Assessing the Potential Value of Software-Support for the Venture Creation Process

Many newly founded companies fail due to a lack of experience of the founders, a missing connection to mentors, investors or other valuable contacts, or building a product without a real market need. Formalized frameworks like Lean Startup suggest that there is a structured way of evaluating ideas and building companies that increase the chances of success. In this paper we investigate and identify potential for software support in managing new venture creation. We conducted 10 semi-structured interviews with employees at business incubators and startup founders. Based on our observations we derived high-level guidelines that need to be taken into account for a software to provide added value for management activities of venture creation processes.