Venture success attribution : directives for sponsor funding

Abstract

This study identifies and explains the key success factors of start-up and growth ventures receiving support by a sponsor organisation. Large amounts of money to develop entrepreneurs are channelled yearly to expand sponsor businesses. No guarantee exists that the selection process gives consistent results or that the key success factors are clearly identifiable before the support allocation takes place. The research investigated nineteen ventures associated with a specific sponsor. Entrepreneurs were interviewed based on their own specific venture, own perceptions of success factors, self-evaluated personal attributes, specific context and support services received. Although the key success factors varied, all the entrepreneurial ventures had fundamental similarities. That success is relative, and not attributable to one factor, but achieved through a range of elements are confirmed. The value of the study is the range of contributing factors to meaningfully allocate resources. It also directs training focuses that must support sponsor programs.