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Show Results For
- All HBS Web
(770)
- People (2)
- News (218)
- Research (287)
- Multimedia (4)
- Faculty Publications (168)
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- 2014
- Other Teaching and Training Material
Entrepreneurship Reading: Financing Entrepreneurial Ventures
By: William R. Kerr, Ramana Nanda and James McQuade
"Financing Entrepreneurial Ventures" introduces students to the key issues involved in the financing of entrepreneurial enterprises. The Reading begins by examining how business models shape external financing requirements. It then contrasts the choice to bootstrap... View Details
Kerr, William R., Ramana Nanda, and James McQuade. "Entrepreneurship Reading: Financing Entrepreneurial Ventures." Core Curriculum Readings Series. Harvard Business Publishing 8072, 2014.
- 2012
- Other Unpublished Work
Lost in the Clouds: The Impact of Copyright Scope on Investment in Cloud Computing Ventures
By: Josh Lerner and Greg Rafert
Our analysis seeks to understand the impact of changes in copyright scope on investment in new firms. We begin by analyzing the investment effects of the Cartoon Network, et al. v. Cablevision decision in the U.S. and court rulings in France and Germany on venture... View Details
Keywords: Technological Innovation; Venture Capital; Internet and the Web; Investment; Business Startups; Copyright; France; Germany; United States; European Union
Lerner, Josh, and Greg Rafert. "Lost in the Clouds: The Impact of Copyright Scope on Investment in Cloud Computing Ventures." 2012.
- January 2025
- Case
AI Meets VC: The Data-Driven Revolution at Quantum Light Capital
By: Lauren Cohen, Grace Headinger and Sophia Pan
Ilya Kondrashov, CEO of Quantum Light Capital, was driven to harness AI for identifying high-potential scale-ups. Collaborating with Nik Storonsky, founder of Revolut, the duo observed that most venture capital (VC) decisions were heavily influenced by emotion, with... View Details
Keywords: Artificial Intelligence; Business Finance; Data Analysis; Angel Investors; Cognitive Biases; Scale; Venture Capital; Investment; Business Model; Forecasting and Prediction; Technological Innovation; Innovation Strategy; Behavior; Cognition and Thinking; Public Opinion; Private Sector; Business Strategy; Competitive Advantage; Business Earnings; Behavioral Finance; AI and Machine Learning; Analytics and Data Science; Business Startups; Financial Services Industry; London; United Kingdom
Cohen, Lauren, Grace Headinger, and Sophia Pan. "AI Meets VC: The Data-Driven Revolution at Quantum Light Capital." Harvard Business School Case 225-053, January 2025.
- June 2018
- Article
Cost of Experimentation and the Evolution of Venture Capital
By: Michael Ewens, Ramana Nanda and Matthew Rhodes-Kropf
We study how technological shocks to the cost of starting new businesses have led the venture capital model to adapt in fundamental ways over the prior decade. We both document and provide a framework to understand the changes in the investment strategy of VCs in... View Details
Keywords: Innovation; Investing; Abandonment Option; Technological Innovation; Venture Capital; Investment
Ewens, Michael, Ramana Nanda, and Matthew Rhodes-Kropf. "Cost of Experimentation and the Evolution of Venture Capital." Journal of Financial Economics 128, no. 3 (June 2018): 422–442.
- 2017
- Working Paper
Cost of Experimentation and the Evolution of Venture Capital
By: Michael Ewens, Ramana Nanda and Matthew Rhodes-Kropf
We study how technological shocks to the cost of starting new businesses have led the venture capital model to adapt in fundamental ways over the prior decade. We both document and provide a framework to understand the changes in the investment strategy of VCs in... View Details
Keywords: Innovation; Investing; Abandonment Option; Technological Innovation; Venture Capital; Entrepreneurship; Investment
Ewens, Michael, Ramana Nanda, and Matthew Rhodes-Kropf. "Cost of Experimentation and the Evolution of Venture Capital." Harvard Business School Working Paper, No. 15-070, February 2015. (Revised March 2017, Forthcoming in the Journal of Financial Economics.)
- 27 Sep 2016
- First Look
September 27, 2016
selecting investments, VCs see the management team as more important than business-related characteristics such as product or technology. They also attribute more of the likelihood of ultimate investment success or failure to the team... View Details
Keywords: Sean Silverthorne
- Article
Ten Year Sunset Rule for Healthcare Regulation Is a Nonstarter and Discouragement to Post-COVID-19 Investment
By: Regina E. Herzlinger and Eugene Schneller
U.S. healthcare delivery has not benefitted from the same productivity growth as many other service industries, such as bricks and mortar retailing, a loss that has gravely diminished cost control and access. Regulatory capture, which creates barriers to venture... View Details
Keywords: Health Care; COVID-19; Regulation; Health Care and Treatment; Health Pandemics; Governing Rules, Regulations, and Reforms; Investment
Herzlinger, Regina E., and Eugene Schneller. "Ten Year Sunset Rule for Healthcare Regulation Is a Nonstarter and Discouragement to Post-COVID-19 Investment." Journal of Health Care Finance 47, no. 4 (Spring 2021). (Special Commentary.)
- February 2024
- Case
Vespucci Partners: The New World of Venture Capital in Hungary
By: Paul A. Gompers, Tonia Labruyere and Emilie Billaud
Julia Sohajda was the young, female founding partner of the Hungarian VC firm Vespucci Partners, which focused on investing at seed stage into Hungarian deep tech startups and prepare them for a launch in the U.S market. Vespucci's first fund had largely been comprised... View Details
Keywords: Venture Capital; Business Startups; Investment Funds; Financing and Loans; Entrepreneurship; Financial Services Industry; Hungary; United States
Gompers, Paul A., Tonia Labruyere, and Emilie Billaud. "Vespucci Partners: The New World of Venture Capital in Hungary." Harvard Business School Case 824-138, February 2024.
- March 2021
- Teaching Plan
The Black New Venture Competition
By: Karen G. Mills, Jeffrey J. Bussgang, Martin A. Sinozich and Gabriella Elanbeck
Black entrepreneurs encounter many unique obstacles when raising capital to start and grow a business, some stemming from deep systemic discrimination. During their second year at Harvard Business School (HBS), MBA students Kimberly Foster and Tyler Simpson decided to... View Details
Keywords: Analytics; Startup; Start-up; Startup Financing; Financing; Startups; Start-ups; Business And Community; Business And Society; Business Growth; Discrimination; Women; Women-owned Businesses; African Americans; African-american Entrepreneurs; African-american Investors; African-American Protagonist; African-American Women; Early Stage Funding; Early Stage; Innovation ＆ Entrepreneurship; Innovation Competitions; Entrepreneurial Financing; Business Plan; Business Startups; Diversity; Gender; Race; Entrepreneurship; Venture Capital; Small Business; Leadership; Information Technology; Competition
- 04 Apr 2017
- First Look
First Look at New Research, April 4
businesses have led the venture capital model to adapt in fundamental ways over the prior decade. We both document and provide a framework to understand the changes in the investment strategy of VCs in recent years—an increased prevalence... View Details
Keywords: Sean Silverthorne
- July 2021
- Case
Kevin D. Johnson: To Be a Venture Capitalist or an Operator?
By: Jo Tango and Alys Ferragamo
In May of 2021, Kevin D. Johnson had just graduated from a rigorous Executive MBA program, and he quickly needed to decide on his next career move. Johnson was the founder and CEO of a successful media company, Johnson Media Inc., but his career goals had shifted while... View Details
Keywords: Entrepreneurship; Business Startups; Goals and Objectives; Race; Wealth; Decisions; Venture Capital; Personal Development and Career; United States
Tango, Jo, and Alys Ferragamo. "Kevin D. Johnson: To Be a Venture Capitalist or an Operator?" Harvard Business School Case 822-012, July 2021.
- 2023
- Working Paper
How Resilient Is Venture-Backed Innovation? Evidence from Four Decades of U.S. Patenting
By: Sabrina T. Howell, Josh Lerner, Ramana Nanda and Richard Townsend
Despite theoretical predictions to the contrary, corporate innovation is strongly pro-cyclical. In this paper, we compare innovation in the economy as a whole to that of firms backed by venture capital (VC), a source of capital associated with the most impactful young... View Details
Keywords: Recessions; Venture Capital; Innovation and Invention; Patents; Business Cycles; Economic Slowdown and Stagnation
Howell, Sabrina T., Josh Lerner, Ramana Nanda, and Richard Townsend. "How Resilient Is Venture-Backed Innovation? Evidence from Four Decades of U.S. Patenting." Harvard Business School Working Paper, No. 20-115, May 2020. (Revised July 2023.)
- September 2021 (Revised November 2022)
- Case
MAYA Capital
By: Robert F. White, Carla Larangeira and Pedro Levindo
MAYA Capital co-founders Lara Lemann and Monica Saggioro raised $41.5 million through a series of closings for their early-stage Latin American venture capital fund. The two women had met for the first time in mid-2016 when Lemann was contemplating scaling her angel... View Details
Keywords: Early Stage; Portfolio Construction; Fund Management; Investment; Entrepreneurship; Venture Capital; Investment Portfolio; Strategy; Business Startups; Management; Investment Funds; Latin America
White, Robert F., Carla Larangeira, and Pedro Levindo. "MAYA Capital." Harvard Business School Case 822-038, September 2021. (Revised November 2022.)
- May 2023
- Technical Note
Venture Capital at a Crossroads
By: Jo Tango and Alys Ferragamo
Venture capital is a cyclical, ever-changing industry, as seen in recent years. The late 2010s and early 2020s witnessed record amounts of capital flowing into the sector, high valuations, and new types of investors entering the market. Innovations in the seed stage,... View Details
Keywords: Venture Capital
Tango, Jo, and Alys Ferragamo. "Venture Capital at a Crossroads." Harvard Business School Technical Note 823-122, May 2023.
- November 2013
- Article
Investment Cycles and Startup Innovation
By: Ramana Nanda and Matthew Rhodes-Kropf
We find that VC-backed firms receiving their initial investment in hot markets are more likely to go bankrupt, but conditional on going public are valued higher on the day of their IPO, have more patents, and have more citations to their patents. Our results suggest... View Details
Keywords: Innovation; Market Cycles; Financing Risk; Risk and Uncertainty; Venture Capital; Investment; Innovation and Invention
Nanda, Ramana, and Matthew Rhodes-Kropf. "Investment Cycles and Startup Innovation." Journal of Financial Economics 110, no. 2 (November 2013): 403–418.
- October 2023 (Revised November 2023)
- Case
Recycle & Re-Match: The Future of Soccer Turfs
By: George Serafeim, Lena Duchene and Carlota Moniz
By August 2023, Re-Match, an artificial turf waste-to-value company, had operations in Denmark and the Netherlands and had recycled over 160,000 tons of waste and plastic fiber. With recent capital injection from the VC firm Verdane and a dual revenue business model,... View Details
Keywords: Carbon Emissions; Carbon Abatement; Sustainability; Recycling; Waste Management; Technology; Entrepreneurial Management; Business Growth and Maturation; Business Model; Decisions; Energy Conservation; Investment Return; Profit; Technological Innovation; Patents; Growth and Development Strategy; Market Entry and Exit; Digital Platforms; Wastes and Waste Processing; Business Strategy; Competition; Expansion; Technology Adoption; Sports; Environmental Sustainability; Entrepreneurship; Green Technology Industry; Service Industry; Manufacturing Industry; Rubber Industry; Sports Industry; Denmark; Netherlands; France; United States; Pennsylvania; Europe
Serafeim, George, Lena Duchene, and Carlota Moniz. "Recycle & Re-Match: The Future of Soccer Turfs." Harvard Business School Case 124-032, October 2023. (Revised November 2023.)
- 18 Apr 2024
- Lecture
Innovation Opportunities Created by COVID-19 Can Help: And How to Make Them Happen
The crush of patients created by COVID enabled the creation of sites for care outside the traditional hospital, such as retail pharmacies, ambulatory surgery centers, urgent care centers, telemedicine, and wireless sensors. Public policy mirrored these changes by... View Details
- July 2019
- Teaching Note
Arlan Hamilton and Backstage Capital
By: Laura Huang
Teaching Note for HBS No. 419-029. Frustrated by an inability to convince existing venture capital firms to invest in companies led by women, people of color, and LGBT founders, Arlan Hamilton started her own firm, Backstage Capital, in 2015. Hamilton understood the... View Details
- 2010
- Chapter
The Financing of R&D and Innovation
By: Bronwyn H. Hall and Josh Lerner
Evidence on the “funding gap” for investment innovation is surveyed. The focus is on financial market reasons for underinvestment that exist even when externality-induced underinvestment is absent. We conclude that while small and new innovative firms experience high... View Details
Hall, Bronwyn H., and Josh Lerner. "The Financing of R&D and Innovation." Chap. 14 in Handbook of the Economics of Innovation: Volume 1, by Bronwyn H. Hall and Nathan Rosenberg, 609–639. Amsterdam: Elsevier, 2010.
- 06 Jun 2017
- First Look
First Look at New Research and Ideas: June 6, 2017
forthcoming American Economic Journal: Economic Policy Selection and Market Reallocation: Productivity Gains from Multinational Production By: Alfaro, Laura, and Maggie X. Chen Abstract—Assessing the productivity gains from multinational production has been a vital... View Details
Keywords: Sean Silverthorne