She also discussed theories and research in industrial-organizational psychology and shared some real-world scenarios involving venture capital investments in startup businesses.ĪPS Fellow Kelly G. Venture capital investors should “focus on the team during due diligence to mitigate human capital risk in their portfolio,” Blacksmith said. In a presentation titled “Strengthening Venture Capital Investments: Why Assessment and Development of the Entrepreneurial Team Matter,” Blacksmith underscored the critical importance of focusing on the team as well as the founder, given that no founder can develop a business without the support of the team who will execute and implement the ideas. The presenters discussed what psychology reveals about the characteristics differentiating entrepreneurs, how to predict entrepreneurship performance, and the entrepreneurship journey.Įach presentation explored the interaction between people and processes as a means to advance the psychological understanding of entrepreneurship. Nikki Blacksmith, co-founder and CEO of Blackhawke Behavior Science and a professor at the American University, chaired the session. At the 2023 APS Annual Convention in Washington, D.C., three psychological scientists discussed their different career paths and experiences within entrepreneurship in a symposium aimed at informing psychological scientists (and entrepreneurs!) about the value of research at this unusual intersection. In 2020, APS and the Ewing Marion Kauffman Foundation initiated a partnership to grow research at the intersection of psychological science and entrepreneurship. See all coverage from the 2023 APS Annual Convention Photo above: Constance Dierickx, Nikki Blacksmith, and Kelly Shaver present the symposium Psychological Science and Entrepreneurship at the 2023 APS Annual Convention.
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