Influence of a seed capital program for supporting high growth firms in Chile

Cancino, CA; Núñez, A; Merigó, JM

Influence of a seed capital program for supporting high growth firms in Chile

Cancino, CA Núñez, A Merigó, JM

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Publication Type:: Journal Article
Citation:: Contaduria y Administracion, 2019, 64 (1)
Issue Date:: 2019-01-01

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Field	Value	Language
dc.contributor.author	Cancino, CA	en_US
dc.contributor.author	Núñez, A	en_US
dc.contributor.author	Merigó, JM https://orcid.org/0000-0002-4672-6961	en_US
dc.date.accessioned	2020-04-07T06:49:34Z
dc.date.available	2020-04-07T06:49:34Z
dc.date.issued	2019-01-01	en_US
dc.identifier.citation	Contaduria y Administracion, 2019, 64 (1)	en_US
dc.identifier.issn	0186-1042	en_US
dc.identifier.uri	http://hdl.handle.net/10453/139867
dc.description.abstract	© 2019 Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración. The main economic development agency in Chile, CORFO, implemented in 2001 a Seed Capital Program (SCP) to promote the development of high-growth firms. The SCP not only provides financial aid to entrepreneurs but also technical and administrative assistance through the support of incubators. Incubators may be universities incubators (UI) or private firms (NUI). The aim of this paper is to know the performance of beneficiaries according to the assistance of UI or NUI. A total of 238 new firms beneficiaries with the CORFO program were surveyed (84 supported by UI and 154 supported by NUI). Two logistic regression models were used, a first model to assess the probability that a new firm achieves positive sales, and a second model to assess the probability that the new firm reaches a high growth during the first five years from its inception. Overall, mixed results were found. SCP’s beneficiaries supported by either UI and NUI have the same probability of having positive sales when starting their operations. However, five years after started their operations, businesses supported by UI have higher probabilities of achieving high growth than businesses supported by NUI. The results highlight a positive interaction between private entrepreneurs, public agencies and university incubators.	en_US
dc.relation.ispartof	Contaduria y Administracion	en_US
dc.relation.isbasedon	10.22201/fca.24488410e.2019.1810	en_US
dc.rights	info:eu-repo/semantics/openAccess
dc.title	Influence of a seed capital program for supporting high growth firms in Chile	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	64	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology/School of Information, Systems and Modelling
utslib.copyright.status	open_access	*
pubs.issue	1	en_US
pubs.publication-status	Published	en_US
pubs.volume	64	en_US

Abstract:

© 2019 Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración. The main economic development agency in Chile, CORFO, implemented in 2001 a Seed Capital Program (SCP) to promote the development of high-growth firms. The SCP not only provides financial aid to entrepreneurs but also technical and administrative assistance through the support of incubators. Incubators may be universities incubators (UI) or private firms (NUI). The aim of this paper is to know the performance of beneficiaries according to the assistance of UI or NUI. A total of 238 new firms beneficiaries with the CORFO program were surveyed (84 supported by UI and 154 supported by NUI). Two logistic regression models were used, a first model to assess the probability that a new firm achieves positive sales, and a second model to assess the probability that the new firm reaches a high growth during the first five years from its inception. Overall, mixed results were found. SCP’s beneficiaries supported by either UI and NUI have the same probability of having positive sales when starting their operations. However, five years after started their operations, businesses supported by UI have higher probabilities of achieving high growth than businesses supported by NUI. The results highlight a positive interaction between private entrepreneurs, public agencies and university incubators.

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http://hdl.handle.net/10453/139867