Family Factor in Setting up a New Venture: Preliminary Research Findings
Family Factor in Setting up a New Venture: Preliminary Research Findings

Summary/Abstract: A significant impact on the development of innovative entrepreneurship is made by startups ecosystem covering a wide spectrum of cooperation with business environment institutions in the field of incubation and by external factors that influence the formation of new technology ventures. The applied exploratory research aims at presenting the role of the family factor in the creation and further development of new innovative ventures. The considerations are based on selected results of domestic and foreign studies regarding the startups ecosystem. Attention has been drawn to a broad conceptual apparatus of the term “new venture”, which required approval of the limitations to the studied area. The research results reveal the importance of the family factor in startups ecosystem, which often determines the survival of a new venture in a competitive market. The article is of an analytical-conceptual character and the findings are very preliminary, so further investigation in this field is necessary. Undoubtedly they can constitute a contribution to the discussion about the impact of family on the creation and development of new ventures.

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