The conception of New Venture Ideas by novice entrepreneurs: A question of nature or nurture?

This research aims to further understanding around the cognitive mechanisms lying behind the generation of entrepreneurial New Venture Ideas (NVIs). It assesses the extent to which this competency is innate or one which is capable of being proactively developed. This has particular salience in the context of novice entrepreneurs, a group lacking the knowledge corridors and cognitive frameworks of their serial or portfolio counterparts. Innovative in nature, NVIs represent the first candidate concepts for new means-end relationships. Existing as cognitive products at the very start of the entrepreneurial journey, significant academic attention has focused on the cognitive micro-foundations that influence their conception. Nonetheless, notable gaps in this body of work remain, not least in how different cognitive antecedents impact upon NVI quality. This thesis looks at these issues through three independent but inter-related studies. The first undertakes a systematic literature review of the existing empirical research to elucidate the extent, and associated transmission methods, through which entrepreneurship education and training (EET) supports opportunity identification. The second takes a quantitative approach to observe how an individual’s innate cognitive capabilities, notably those aspects of intelligence related to executive functioning, explain significant inter-person performance differences when it comes to entrepreneurial ideation. The third adopts an experimental methodology, to assess the extent to which the use of cognitive heuristics, in this case analogical reasoning, impacts on performance outcomes in the conception of NVIs, and the extent to which it can be supported. Collectively this study finds that EET interventions, innate cognitive capabilities, and cognitive heuristics all contribute to NVI quality. It highlights the potency of nurturing interventions but simultaneously illustrates their limitations. With different cognitive antecedents shown to exude varying degrees of malleability, this research has relevance to both the structure, and expectations, of EET programmes dedicated to the ‘fuzzy front’ end of entrepreneurship.