Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/335416 
Year of Publication: 
2023
Citation: 
[Journal:] Entrepreneurial Business and Economics Review (EBER) [ISSN:] 2353-8821 [Volume:] 11 [Issue:] 4 [Year:] 2023 [Pages:] 139-153
Publisher: 
Krakow University of Economics, Centre for Strategic and International Entrepreneurship, Krakow
Abstract: 
Objective: The objective of the article is to examine the role of foreign venture capital and foreign business angels in companies' early internationalization based on the example of Polish ICT start-ups. Research Design & Methods: We based the scientific argument on an analysis of the existing state of knowledge in this area and the empirical research conducted among 220 Polish start-ups, which founded our logistic regression model. Findings: Based on the study, a positive relationship exists between the involvement of foreign venture capital funds in start-ups and their early internationalization. Implications & Recommendations: Start-ups should cooperate with foreign institutions, such as venture capital funds, as their knowledge and experience can be a source of start-ups' early internationalization. We recommend that scholars conduct further in-depth panel studies on the impact of foreign investment funds on the early internationalization process. Contribution & Value Added: The article covers research yet to be undertaken in research analyses in early internationalization and can serve as a starting point for further in-depth studies of the phenomenon, also based on start-ups from other countries.
Subjects: 
venture capital
business angel
early internationalization
international entrepreneurship
financial capital
JEL: 
F23
G24
L26
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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