Graduate engineer Jaakko Isotalo’s DBA dissertation describes the impact of accelerators on the effectiveness and growth of startups.
The research for the dissertation began when Isotalo, a partner in a private equity fund, was monitoring the impact of sustainability regulation on the investment industry.
“The funds were subject to an avalanche of reporting regulations and I noticed that all the discussion in the industry was also around reporting. I was wondering if we shouldn’t discuss what the funds could do to promote sustainability, so that we have something positive to report,” says Isotalo.
The dissertation focused on a range of accelerators, short programs designed to boost the development of early-stage startups.
The study included a variety of accelerators, some of which specialized in effectiveness and some that did not. The objective was to understand the mechanisms of accelerators that increase the effectiveness of the target companies.
For the dissertation, Isotalo has written three essays, the first of which is a review of the literature on accelerators. In the second essay, he discusses the process of accelerating companies to drive both sustainability and commercial value.
The empirical data consists of climate technology startups from Finland and around the world that participated in the accelerator program.
“It has been thought that startups striving for impact are homogeneous, but they can be very diverse. Some people have a strong understanding of sustainability impact and this can be the motivation for starting a business. Others are more traditional companies that have identified business opportunities in climate technology.”
“Could serve as an example that professional investors can apply in their own operations”
The third essay in the dissertation presents a theoretical model that explains how an accelerator can support startups to manage internal tensions that might otherwise limit combined value creation.
The model supports both sustainability and commercial value growth.
“If the motive for starting a business is to contribute to sustainability, its management may not need to accelerate this side, but they may have challenges on the business model side. More traditional startups, on the other hand, are sure to benefit from impact training and building metrics.”
Isotalo hopes that his research would contribute to a sustainability discussion in the investment industry, as the majority of the debate has remained focused on reporting over the course of the dissertation.
Investors could continue to develop policies to promote sustainability for target companies.
“Although the model I present in my dissertation was created in an accelerator environment, it could serve as an example that professional investors could apply in their own operations.”
You can read the dissertation here.
The 12th Aalto DBA dissertation
Isotalo's research is the 12th dissertation to be completed in Aalto University's Doctor of Business Administration program.
The work was supervised by Markku Maula, professor of venture capital at Aalto University.
The starting point for a DBA is the same as for any other doctoral dissertations: to produce scientifically sound and valid knowledge.
DBA is based on working life and is also useful in practice. You can read more about the Aalto Executive DBA program here.
Defense of DBA dissertation
Aalto University School of Business will review Jaakko Isotalo's DBA dissertation "Beyond screening: How accelerators can engage in expediting the sustainable impact of their portfolio companies” on Friday, 29 November 2024, at 12:00 pm at Aalto University in Töölö, in Marila Hall.
The opponent will be Saurabh Lall from the University of Glasgow and the presiding official will be Professor Markku Maula from Aalto University. The event can also be viewed on Zoom.
Meeting ID: 835 1916 9412
For more information on the study and to order a dissertation:
Jaakko Isotalo
DBA candidate
jaakko.isotalo@koronainvest.fi
Tel. +358 40 712 3655
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What is the Aalto Executive DBA - Doctor of Business Administration program?
The Aalto Executive DBA (Doctor of Business Administration) program is designed for experienced executives who wish to complete a doctoral degree alongside their work. This working-life oriented program involves applied research. The DBA, which is recognized around the world, is offered by several leading institutions, such as Harvard Business School.
Like the Aalto Executive MBA and Aalto MBA degree programs, the DBA is not part of the Finnish degree system. However, it is conferred by the accredited Aalto University School of Business. The Aalto Executive DBA program can be completed, alongside work, in three to six years. This fee-based program was launched at the beginning of 2013.
Henrikki Tikkanen, Professor of Marketing at Aalto University School of Business, is the academic director of the DBA program. Read more on the program website.
Further information on the Aalto Executive DBA program
Patrick Furu
Director, Top Management Solutions
Aalto EE
Tel. +358 10 837 3719
patrick.furu@aaltoee.fi
Henrikki Tikkanen
Professor, Department of Marketing
Aalto University
Tel. +358 50 573 4174
henrikki.tikkanen@aalto.fi