Siddharth Vedula
University of Colorado, Boulder
Venture Capital and CleanTech Entry: Contingent Effects of Environmental Social Norms
Research on geographical variability in entrepreneurship has emphasized institutional heterogeneity. Yet much of this work focuses solely on economic institutional factors, ignoring their interplay with broader institutional forces. Drawing on institutional and entrepreneurship theory, we investigate inter-regional variations in entry into the cleantech sector within the U.S. over the period 1998-2007. Specifically, we develop and test a model of how regional agreement in environmental social norms moderates the relationship between venture capital (VC) liquidity (i.e. exit) markets and entrepreneurial entry. We find that U.S. states with stronger cleantech VC liquidity markets have more cleantech entrepreneurial entry; however this relationship weakens and becomes negative as the level of intersubjective agreement in a state increases beyond intermediate levels.
Biography
Siddharth Vedula is a PhD candidate at the University of Colorado, Boulder. Sid’s research interests lie in the areas of strategy, entrepreneurship and economic geography. His current research projects focus on how regional variations in environment, both in terms of localized institutions and the actions of peer firms, impact the strategic behaviours of focal firms. He has presented his ongoing research at the Babson Conference for Entrepreneurship Research, the Academy of Management, and the Strategic Management Society Conference where his paper was nominated for the conference best paper award in 2012.Prior to joining the doctoral program at CU, he received his Masters in Engineering from McGill University and a Bachelors in Neuroscience from the University of Toronto. He also subsequently worked for a couple of years in industry as a biomedical research scientist in a startup company developing ultrasound-based therapeutics for prostate cancer.