Interaction with venture investors from a perspective of nonresident entrepreneurs

Student: Gorobchenko Andrej

Supervisor: Alexander Alexandrovich Dagaev

Educational Programme: Master

Year of Graduation: 2014

The Government of the Russian Federation Federal State Autonomous Educational Institution of the Higher Professional Education  «National Research University «Higher School of Economics» Faculty of Management Project Management department   ANNOTATION OF MASTER THESIS   Theme: « Interaction with venture investors from a perspective of nonresident entrepreneurs »   Student:Group № 727                                                                                                     Andrey Gorobchenko   Professor:Dagaev A.A.       Moscow, 2014  This master thesis is dedicated to the topic of cultural difference and its impact on interaction among nonresident entrepreneurs and venture investors. Nowadays, input of venture investment into economies is significant as well as opportunities to travel, move capital and establish new ventures. However, mainly economical factors are only taken into consideration while the process itself is a human activity what implicates intrinsic peculiarities to it. Author investigated relationship and processes involved in it from nonresident entrepreneurs’ point of view, where he identified existence of cultural difference factor between foreign-born entrepreneurs and venture investors via series of in-depth interviews with entrepreneurs with their on-going projects in host countries.Following list of tasks was created and accomplished:·      Legible information was provided about basic principles, standard processes in interaction between entrepreneur and venture investor; widely accepted decision-making process of venture capitalists was revealed.·      Impact of culture in related managerial areas (negotiations, decision-making, stereotypes) was described;·      Collected information from interviewees (cases’ description) was disclosed;·      Peculiarities and effects of cultural context in case-studies under scrutiny were recognized;·      A set of recommendations for nonresident entrepreneurs was developed·      Obtained information was summarized.Case study approach was used in order to understand the deep motives of nonresident entrepreneurs and their feelings, experience in a host countries as well as to check the hyposis. Countries below were chosen for this study as host countries:·      France (3 cases investigated)·      USA (2 cases investigated)Main outcomes of current master thesis are:1.    Confirmed cultural influence of cultural difference in nonresident-entrepreneur and venture investor interaction, which can be a positive or negative one.2.    Revealed behavioral pattern of nonresident entrepreneurs in a host country and their generic expectations of conditions in a host country other of higher profits.3.    Developed set of recommendations for nonresident entrepreneurs in order to mitigate and overcome negative effects of cultural aspects and to enhance positive ones.

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