Browsing by Author "Good, Jonathan"

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Crowdfunding vs. Venture Capital - En analys av svenska startups finansieringsmetod och prestation
(2018-04-13) Good, Jonathan; Bertéus, Oskar; University of Gothenburg/Department of Business Administration; Göteborgs universitet/Företagsekonomiska institutionen
Despite Sweden, and Stockholm in particular, being one of the best places on earth for a startup, it’s not entirely problem free reaching success. One of the most important aspects of starting a new company is how you are going to finance the startup and development of it, and in recent years new methods for raising capital has emerged. We have in our study researched the impact of different methods of financing on Swedish startups. The companies we focused on have raised capital either through crowdfunding, or from venture capital firms and business angles in the period between 2013-2015. With a qualitative study, we have answered our research question based in four different criteria’s: financial growth, financial result, number of bankruptcies and product delays. Four interviews were executed with four persons that have first-hand experience with our research question. The data that built the foundation of our analysis were gathered from crowdfunding websites and Swedish business papers. Contrary to our initial beliefs, the crowdfunded companies outperformed the venture capital funded companies when looking at financial performance and number of bankruptcies. The only performance aspect that venture capital funded companies performed best in where growth rates. The study also showed that the most obvious difference between the two types of companies were their business model. The companies that sell a physical consumer product tends to use crowdfunding significantly more often than other. Companies that have more complex software-based product were the majority of companies that were funded through venture capital and business angels.
Social Impact Bonds in Sweden: Structural and operational impediments from experts’ perspectives
(2020-07-23) Good, Jonathan; Juhlin, Mattias; University of Gothenburg/Graduate School; Göteborgs universitet/Graduate School
Background and Purpose Social Impact Bonds has recently received attention in Sweden as a new financing model that might enable increased efficiency and innovation within public service provision. As a financing model, Social Impact Bonds’ outcome-based structure, allows increased service provision measuring, enabling increased transparency and new thoughts and practices to be put in place in areas of the social services where problems are prevailing. To date, there are only a few Social Impact Bonds launched in Sweden and the model fit within the Swedish Welfare State is not widely understood and researched. As such, this study aims to illuminate how the experts involved in the first Social Impact Bonds in Sweden have worked with this model to ensure successful implementation in Sweden. Further, the study has viewed the Swedish Social Finance Infrastructure to assess how well it can facilitate Social Impact Bonds in its current state and possible areas of improvement for the future. Methodology For the study, a comprehensive literature review on Social Impact Bonds was performed culminating in an understanding of where the field currently is, in terms of maturity, in Sweden. The literature review was followed by qualitative semi-structured interviews with experts within Social Impact Bonds in Sweden. Findings and Conclusions One of the main findings in the study is that the Welfare System of Sweden, which can be considered extensive in comparison with many western countries to date, has affected the implementation of Social Impact Bonds to the extent that the authors coin the term Swedish Social Impact Bond (SSIB) to emphasize the difference. The effects resulting from this include a larger need for specialized experts to assist in the implementation of the SSIB and a need for increased Pro-Social Finance fiscal and regulatory policy.