Teams in New Ventures: Gender, Human Capital and Motivation

Purpose- This paper dismantles the idea that sex per se explains entrepreneurial outcomes and demonstrates the influence of a gendered motivation on forging and shaping new venture teams, which is a disruptive choice affecting the future of start-ups. Methods- A two-level research model is validated on data from the PSED II, with a system of simultaneous equations. Firstly, we test if team features affect the performance of new ventures; then, we investigate determinants of team features with a focus on sex and motivation of nascent entrepreneurs. Findings- Human capital (HC) in terms of education and experience of team members consistently explains venture evolution only when considering the larger team of affiliates. The HC gathered by nascent entrepreneurs is not due to the simplistic sex condition, but rather to a gendered motivation related to the inferior need of achievement of women. Research limitations- Limitations of discretionary scoring assigned to items of the PSED II survey are present, but unavoidable when processing qualitative data. Social and Practical implications- Women need to be (culturally) educated on how to re-balance their personal motivation towards entrepreneurship by fostering their incentives for achievement. Political and educational programs could trigger success in the creation of new businesses led by women. Originality/value- This paper contributes to the literature on nascent entrepreneurship, focusing on the entrepreneurial teams in the initial phase of business creation, and provides the basis for further studies aimed at eradicating the stereotypes of gender roles that lead women to self-exclusion and organizational errors.