Purpose

The purpose of this paper is to examine how entrepreneurship culture affects start-up and venture capital co-evolution during the early evolution of an entrepreneurial ecosystem (EE) and its ability to foster the emergence of ambitious entrepreneurship as an outcome of its activity. Unlike studies that capture entrepreneurship culture at the national level, this study focusses specifically on the culture of venture capital-financed entrepreneurship and understanding its implications to the development of venture capital markets and successful firm-level outcomes within ecosystems.

Design/methodology/approach

Relying on EE and organisational imprinting theory, this study specifies characteristics of venture capital-financed entrepreneurship of Silicon Valley to illustrate the American way of building start-ups and examine whether they have as imprints affected to the entrepreneurship culture and start-up and venture capital co-evolution in Finland during the early evolution of its EE between 1980 and 1997.

Findings

The results illustrate venture capital-financed entrepreneurship culture as a specific example of entrepreneurship culture beneath the national level that can vary across geographies like the findings concerning Finland demonstrate. The findings show that this specific culture matters through having an impact on the structural evolution and performance of EEs and on the ways how they deliver or fail to deliver benefits to entrepreneurs.

Originality/value

The results show that venture capital-financed entrepreneurship and the emergence of success stories as outcomes of start-up and venture capital co-evolution within an EE are connected to a specific type of entrepreneurship culture. This paper also contributes to the literature by connecting the fundamentals of organisational imprinting to EE research.

中文翻译：

---

另一个硅谷？追踪创业文化在 1980-1997 年芬兰创业生态系统中创业和风险投资共同演化中的作用

目的

本文的目的是研究创业文化如何在创业生态系统 (EE) 的早期演变过程中影响创业和风险投资的共同演化，以及它促进雄心勃勃的创业作为其活动结果出现的能力。与在国家层面捕捉创业文化的研究不同，本研究特别关注风险投资资助的创业文化，并了解其对风险投资市场发展和生态系统内企业层面成功成果的影响。

设计/方法/方法

本研究依托EE和组织烙印理论，通过对硅谷风险投资创业的特征进行梳理，阐释美国的创业方式，考察其是否对创业文化、创业和风险投资产生影响。芬兰在 1980 年至 1997 年 EE 早期演化期间的共同演化。

发现

结果表明，风险投资资助的创业文化是国家层面以下创业文化的一个具体例子，这种文化在不同地区可能会有所不同，如芬兰的调查结果所示。研究结果表明，这种特定的文化通过影响 EE 的结构演变和绩效以及他们如何为企业家提供或未能为企业家带来利益的方式产生影响。

原创性/价值

结果表明，风险投资资助的创业和成功故事的出现是创业和风险投资在 EE 内共同进化的结果，与特定类型的创业文化有关。本文还通过将组织印记的基本原理与 EE 研究联系起来，为文献做出了贡献。