Publications

Research Summary

Research

The founding and expansion of new firms is central to innovation and economic growth, but the determinants of a new idea’s success are difficult to ascertain. The decision to form a new firm and its ultimate outcome are impacted by ownership structure, financing... View Details

March 1997 (Revised January 1999)
Case

Cambridge Technology Partners: Corporate Venturing (August 1996)

By: Paul A. Gompers and Catherine M. Conneely

Concerns the decision of Jim Sims, president and CEO of Cambridge Technology Partners (CTP) to form a corporate venture capital subsidiary. CTP is a fast-growing information technology consulting firm that has been presented with many investment opportunities from... View Details

Keywords: Decisions; Venture Capital; Leadership; Information Technology; Investment; Opportunities; Customer Focus and Relationships; Business Startups; Business Subsidiaries; Information Technology Industry; Consulting Industry; Cambridge

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March 2023 (Revised June 2023)
Case

Doing Business in Kigali, Rwanda

By: Andy Zelleke, A. Zelleke, Leonard A. Schlesinger, Leonard A. Schlesinger, Pippa Tubman Armerding and Wale Lawal

This case examines the challenges and opportunities of doing business in Rwanda. It highlights Rwanda's economic transformation in the decades leading up to 2023 in the context of its history, culture, and politics. The case gives an overview of some of the main... View Details

Keywords: Business History; Business and Government Relations; Technological Innovation; Foreign Direct Investment; Economic Growth; Transportation Industry; Tourism Industry; Rwanda

October 2011 (Revised October 2013)
Case

Gracious Eloise: What Do Angels Want? (A)

By: Lena G. Goldberg, Janet Kraus and Mary Beth Findlay

Eloise Bune successfully turned an idea into a product, but could she persuade angel investors that she had a business worth investing in? The case details her interactions with the angel investors and explores the role of angel investors in providing financial... View Details

Keywords: Entrepreneurship; Investment Return; Business Startups; Business Plan; Business and Stakeholder Relations; Business and Shareholder Relations

Program

Mergers and Acquisitions

technology Founders and CEOs of established startups Investment bankers, transactional lawyers, and private equity investors Attendance by multiple company representatives will foster teamwork and amplify... View Details

August 1990 (Revised March 1991)
Case

Eli Lilly and Co. (C): Japan

By: Michael Y. Yoshino

Describes the process of establishing an independent operation in Japan in the mid-1980s as a result of a decision to make a major investment in the market. Describes the challenges in setting up such an operation and focuses on the role of the country manager in... View Details

Keywords: Business Divisions; Business Startups; Decisions; Investment; Growth Management; Managerial Roles; Markets; Problems and Challenges; Pharmaceutical Industry; Japan

01 Jun 2011
Working Paper Summaries

The First Deal: The Division of Founder Equity in New Ventures

Keywords: by Thomas F. Hellmann & Noam Wasserman

July – August 2011
Article

Evolve (Again)

By: Rosabeth M. Kanter

Frenzy over social networks and interactive media can produce equally overhyped predictions that everything will change, not to mention money-losing investments in silly ventures. Separating enduring strategic lessons from the hype can help avoid a new crash. Hint: the... View Details

Keywords: Business Startups; Venture Capital; Investment; Technological Innovation; Organizational Change and Adaptation; Partners and Partnerships

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February 2023
Case

Kapor Capital

By: Jeffrey J. Bussgang, Lindsay N. Hyde and Julia Kelley

Kapor Capital, a leading impact investment venture capital (VC) firm, is on the cusp of a generational transition. The two rising managing directors are about to take over the firm from the VC’s eponymous founders. How should they think about strategy, brand, and... View Details

Keywords: Entrepreneurship; Venture Capital; Operations; Business Startups; Financial Services Industry; United States

December 2006 (Revised March 2008)
Case

Prosper Marketplace, Inc.

By: William A. Sahlman and Elizabeth Kind

Describes a set of financial and strategic decisions confronting the founding management team of a new online financial services company. Prosper Marketplace is an internet-based market for individuals to borrow money from other individuals who wish to invest in such... View Details

Keywords: Business Startups; Entrepreneurship; Financial Strategy; Innovation and Invention; Management Teams; Financial Services Industry

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November 2018
Case

David Hysong and SHEPHERD Therapeutics

By: Ananth Raman, John Masko and Aldo Sesia

In 2016, David Hysong, at age 27, found out he had a rare, incurable cancer. Rather than wait around to die, Hysong, a recent graduate of Harvard Divinity School, decided to launch a biotechnology company called Shepherd Therapeutics to development treatments for his... View Details

Keywords: Cancer; Therapeutics; Drugs; Health Care and Treatment; Business Startups; Product Development; Financing and Loans; Growth and Development Strategy; Problems and Challenges

Web

Browse All Articles, Research, & Case Studies - HBS Working Knowledge

businesses afford to exclude the roughly one in three working Americans with criminal records from the economy? In a case study, Paul Gompers explores the challenges a social justice startup encounters in helping the formerly... View Details

December 2004 (Revised March 2007)
Case

Cutlass Capital, L.P.

By: Richard G. Hamermesh and Brian DeLacey

David Hetz and Jon Osgood are forming a new venture capital fund in 2001 to invest in health care start-ups. Describes their fundraising activities at a time when venture capital investing has reached an all-time high. Although their background skills and experiences... View Details

Keywords: Venture Capital; Negotiation Process; Entrepreneurship; Investment Funds; Health Care and Treatment; Business Startups; Health Industry; United States

Program

Launching New Ventures

managerial skills needed to make sound investment decisions, manage rapid change, and ensure the success of your new enterprise throughout its lifecycle. Details Conceive, launch, and grow a successful new venture Analyze, prioritize, and... View Details

18 Feb 2021
Blog Post

SIPs in 2021

classroom, we observed four: Anatomy of a Badass, Startup Bootcamp, Climate Finance, and The Business of Space. Anatomy of a Badass Anatomy of a Badass was inspired by Saint John’s guest participation in Gino and Frei’s Inclusive... View Details

September 2019 (Revised May 2020)
Supplement

Keroche (F): Future Growth Plans

By: Ramon Casadesus-Masanell and Pippa Tubman Armerding

This case describes Keroche co-founder Tabitha Karanja’s 2012 decision to invest in additional production capacity. In November 2012, with a loan from Barclay’s bank, Keroche began constructing a new state-of-the-art beer brewery using German technology. The new plant,... View Details

October 1995 (Revised July 2009)
Case

Beechwood Spouts (A)

By: William A. Sahlman and Andrew S. Janower

Charles Barker must decide whether to become an outside investor in a private round of financing for an early stage, high-growth-potential venture producing plastic pouring spouts for orange juice cartons. Barker must evaluate the opportunity, content, and deal to... View Details

Keywords: Business Startups; Venture Capital; Financing and Loans; Investment

January 2025
Teaching Note

Vytal: Packaging-as-a-Service

By: George Serafeim, Michael W. Toffel and Stacy Straaberg

Teaching Note for HBS Case No. 124-007. The Germany-based startup Vytal operated the largest digital-native reusable packaging-as-a-service network globally, having raised nearly €15 million, established a large network of restaurant partners, and prevented the use of... View Details