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Submit a Manuscript to the Journal
Venture Capital: An International Journal of Entrepreneurial Finance

For a Special Issue on
Digital transformation solutions of entrepreneurial finance in Small and Medium-Sized Enterprises (SMEs)

Manuscript deadline
29 January 2023

Cover image - Venture Capital: An International Journal of Entrepreneurial Finance

Special Issue Editor(s)

Abbas Mardani, University of South Florida (USF), USA
[email protected]

Vincenzo Capizzi, Università del Piemonte Orientale, Italy
[email protected]

Charbel Jose Chiappetta Jabbour, Emlyon Business School, France
[email protected]

Fausto Cavallaro, Università degli Studi del Molise, Italy
[email protected]

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Digital transformation solutions of entrepreneurial finance in Small and Medium-Sized Enterprises (SMEs)

Venture financing (which is known as a form of entrepreneurial finance) plays a key role in the digital revolution process (Kenney and Zysman, 2018). A key issue is a potential of democratizing entrepreneurial finance and entrepreneurship through digitalization when we address the biases of the conventional funders of new ventures against entrepreneurs from ethnic/gender minorities (Fisch et al., 2020). According to some scholars (Blanchflower et al., 2003; Hegde and Tumlinson, 2014), public funders, business angels, bankers, and venture capitalists show inequality when treating entrepreneurs of different ethnic backgrounds or different genders. Any limitation in gaining access to key financial resources for budding entrepreneurs and novel projects has a significant influence on the economic performance of entrepreneurs and social justice as a whole. Although the academic community seems to overlook this issue, policymakers and the media have paid much attention to this problem. The increasing spread of novel sources of entrepreneurial finance has facilitated the collection of capital and growth, especially for ventures. Many scholars in the entrepreneurial finance domain have published numerous articles on angel finance and venture capital (Bonini and Capizzi, 2019; Brown and Rocha, 2020).

Since 2000, the digital revolution has gradually resulted in a business atmosphere where intelligent tools, platforms, and manufacturing and services are becoming universal and even transformative items (Brem et al., 2021; Mas and Gómez, 2021). Digitization has constructed novel financial channels complementing the conventional intermediaries, and, at the same time, it has raised many concerns over cybersecurity, fraud, or bubbles (Bertoni et al., 2021). By definition, the term ‘digitization’ refers to the process of digitally representing a product or a process. Therefore, it could be taken as responsible for the most significant economic transformation on a global scale since the industrial revolution (Gómez-Berbís and de Amescua-Seco, 2019).

The current digital transformation has caused the quick and deep transformation of the firms’ activities, processes, and competencies (Bohnsack et al., 2018; Pesch et al., 2018). This transformation has helped these firms to take advantage of changes and entrepreneurial opportunities. Digital technologies have grown rapidly in recent decades, which has resulted in remarkable changes to firms’ movements towards their goals. When these technologies are incorporated into the business, many promising opportunities and huge challenges arise for firms. According to Thanawala (1994), this situation destroys the whole industries and business models and builds new business models based on revolutionary innovation (Richter et al., 2017). On the other hand, digital transformation enhances firms’ productivity, innovates ways to create value, and develops new ways for customers to be in closer interaction (Bouncken et al., 2020; Matt et al., 2015). Currently, digitalization is a core topic that firms need to learn well how to deal with (Laudien and Pesch, 2019). According to Hull et al. (2007), “digital entrepreneurship is a subcategory of entrepreneurship in which some or all of what would be physical in a traditional organization has been digitized”. Allen (2019) argues that entrepreneurs need to get appropriately ready for competition in the digital world due to the technology evolution.

In fact, digital entrepreneurship describes how entrepreneurship changes due to the digital technology-induced transformation of business and society. It highlights changes that occur in this process to entrepreneurial practices, theories, and education. Digital entrepreneurship provides novel situations for training the entrepreneurs of the next generation. To learn entrepreneurship, the most appropriate way is to carry out entrepreneurship and then reflect on the experiences obtained through this process (Allen, 2019). The digitalization phenomenon has the potential to remove many obstacles to starting something new and, at the same time, suggests various paths towards success. Allen (2019) maintains that digital entrepreneurship brings about new practical skills for entrepreneurs and makes available new ways for contemplating entrepreneurship itself. Every novel and a different thing in entrepreneurship within the digital world can be involved in the domain of digital entrepreneurship. This concept is generally associated with creating new business with the help of information technology (Carvalho and Costa, 2015). By developing digital entrepreneurship, firms would be able to compete with consolidated companies and capture a market niche by being different from other companies through the use of online platforms, online conferences, and other technological means (Akhter, 2017).

Digitalization has created many opportunities for entrepreneurial activities, and to be ready for sustainable innovation, entrepreneurs require to be aware of such opportunities (Richter et al., 2017). Numerous issues related to digital entrepreneurship and its development have already been analyzed by numerous researchers who are often concentrated on narrower topics or sub-topics (Nambisan, 2017; Richter et al., 2015). Different forms of digital entrepreneurship, regardless of their titles, have brought about many benefits to entrepreneurs (MacGregor and Vrazalic, 2008; Maguire et al., 2007). Digital entrepreneurship helps to create a business that functions digitally, mostly on the Internet; in other words, technology and innovation play key roles in the management of the business (Ferran et al., 2013; Nambisan, 2017).

Entrepreneurs need to be aware of the outcomes of digital entrepreneurship due to the many implications of this phenomenon and developments induced by it (Ferreira et al., 2019; Kraus et al., 2019). According to Franco et al. (2021), digital entrepreneurship arranges for different opportunities for the creation of unique technology and products capable of competing in the global market. Digitalization of the economy provides many benefits to both entrepreneurs and customers (Franco et al., 2021).

The dynamic environment of the market and specific characteristics of digitalization necessitates Small and Medium-Sized Enterprises (SMEs) to have a basis or orientation to be capable of embracing the digital environment and also to have certain knowledge. Digitalization has not only developed entrepreneurship but also caused the existing business models to face a remarkable shift to the digital environment (Mithas et al., 2013). Scholars working in the social science domain have attempted to further comprehend digital entrepreneurship, although the relevant literature only offers fragmented and scattered findings regarding different disciplines and without giving any clear image in this sense (Cortellazzo et al., 2019; Nambisan, 2017). Accordingly, the literature requires further research to explore correlations between digital evolution and entrepreneurship (Grégoire and Shepherd, 2012; Hsieh et al., 2019). Richter et al. (2017) asserted that digital entrepreneurship positively influences the development of SMEs. The aim of this special issue proposal is, therefore, to explore what are digital transformation solutions of entrepreneurial finance can influence SME digitalization and management. In fact, entrepreneurs need to understand not only the ways technology is implemented in a proper way but also the ways the current and future developments could influence the development of their business in terms of financial status, management, and sustainability-related issues.

This Special Issue seeks to showcase state-of-the-art manuscripts that focus on digital transformation solutions of entrepreneurial finance in SMEs. We invite submissions that draw upon theoretical lenses from a variety of disciplines (economic, business, management, finance, accounting, etc.), as well as papers that explore the context. Purely conceptual/ theoretical papers are welcome, as are empirical manuscripts using any methodological approach (quantitative, qualitative, or mixed methods). International analyses and comparisons are also welcome. Papers considered for the Special Issue include but are limited to the following topics:

  • Digital transformation of innovation and entrepreneurship
  • Digital transformation in the financial services industry
  • Digital transformation of entrepreneurial work
  • Fintech and entrepreneurial finance
  • Entrepreneurial finance in the platform economy era
  • Digital transformation and technology entrepreneurship
  • Entrepreneurial finance in emerging markets
  • Blockchain-based entrepreneurial finance
  • Innovative-digital entrepreneurship
  • Entrepreneurial finance and technology transfer
  • Government policy and entrepreneurial finance
  • Crowdfunding in entrepreneurial finance and digitalization
  • Internet-based entrepreneurial finance
  • Entrepreneurial finance and economic growth
  • Venture capital and entrepreneurial finance
  • Entrepreneurial finance and HRM practices
  • Decision making in entrepreneurial finance
  • Entrepreneurial knowledge and digital capabilities
  • Entrepreneurial risks and digital economy
  • Digital strategies and entrepreneurial
  • Entrepreneurial skills in the digital world

In this special issue, we focus on digital transformation solutions of entrepreneurial finance in SMEs.

Submission Instructions

Special issue title in ScholarOne: Digital transformation, entrepreneurial finance and SMEs

Types of papers:

  • Purely conceptual
  • Theoretical papers
  • Empirical manuscripts using any methodological approach (quantitative, qualitative, or mixed methods)
  • International analyses and comparisons

Timeline:

  • First round decisions (MAJOR) and notification to authors: 01 April 2023
  • Submission of revised papers: 01 June 2023
  • Second round decisions (MINOR): 01 August 2023
  • Submission of papers with minor revisions: 01 November 2023
  • Final decisions on papers for Special Issue/decision to accept or not: 01 December 2023
  • Delivery of set of papers and guest editors’ introduction: 30 December 2023

Instructions for AuthorsSubmit an Article

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