Entrepreneurial Finance and Entrepreneurial Ecosystems

About the Project

The PhD project explores the startup and scaleup potential in The Netherlands by improving the alignment of critical resources to generate societal and financial returns for stakeholders.

Provisional full title "Entrepreneurial Finance and Entrepreneurial Ecosystems: Aligning Private, Institutional and Governmental Funding Sources to foster Entrepreneurial Ecosystems as to generate Financial Return and Societal Impact".

Entrepreneurial ventures are increasingly recognized as engines of innovation, employment growth, and solutions to pressing societal challenges. However, a persistent financing gap exists between early-stage venture capital and the growth capital required for scaling. This PhD project adopts a comprehensive, multi-stakeholder approach to examining how different funding sources - private venture capital, institutional (pension funds) investors, and government (Dutch and European) programs - can be aligned to bridge this gap. The PhD candidate will investigate structural, regulatory and financial engineering approaches that can make Dutch startups and scaleups attractive investment opportunities for large institutional investors and delivering financial return alongside societal impact.

The research addresses critical questions about the role of government funding in catalyzing private investment, de-risking early-stage ventures, and building entrepreneurial ecosystems. It will assess how public capital can be structured to complement rather than crowd out private investment, and how collaborative funding models can accelerate the transition from startup to scaleup phase. Attention will be paid to investment structures, governance mechanisms, and risk-return profiles that align with the fiduciary requirements of Dutch pension funds while supporting ventures that generate financial return as well as measurable societal benefits.

To apply

This project is only available within our Self-Funded Part-Time PhD program. Application is only possible via our website https://www.nyenrode.nl/en/programs/p/phd-program-(part-time), which also provides further details around the application package, which includes:

• Application essay form (our fillable application essay form)
• Title
• Proposed research question
• Research background & rationale
• Methodology
• Suggested supervisors at Nyenrode
• Personal motivation
• Certified copy of your Master's degree or equivalent
• Copy of corresponding transcript/grade list(s) from your Masters or equivalent
• Curriculum vitae
• Reference letter(s)
• Photo

Contact

For further information, please visit our website https://www.nyenrode.nl/en/programs/p/phd-program-(part-time) or contact Nyenrode’s PhD School at phd@nyenrode.nl