UNDERSTAND | August 18, 2020

Measuring entrepreneurial thinking featured on the GBAN Field Call

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Most angel investors rely on completed due-diligence and ‘gut feelings’ to determine which entrepreneurs receive their investments. But research identifies over a hundred cognitive biases that can reduce the accuracy of one’s judgment even in ideal conditions. Now that most of our interactions are now virtual and done remotely, in-person pitches—and the information we can glean from them—are out of the question. Is there anything that will help in these circumstances?

Dr. Kelly Shaver and Betsy Shaver of MindCette, the entrepreneurial testing company presented a new opportunity for measuring entrepreneurial thinking. The MindCette Entrepreneurial Test (MCET) is an academically validated tool for creating a psychological profile of either an individual entrepreneur or an entire founding team.

"Using data from over 6,000 individuals across 3 nationally representative studies, we developed the MCET. Guided by science rather than anecdotal evidence, our scales and items have survived rigorous peer review in numerous publications. The 72 questions in the MCET create a psychological profile that reliably & predictably distinguishes entrepreneurs from others." 

Dr. Kelly G. Shaver has twenty-five years of experience studying the psychological characteristics of entrepreneurs. He led the “person variables” section of the US Panel Studies of Entrepreneurial Dynamics and was the scientific lead for the Allan Gray Orbis Foundation’s national study of entrepreneurial mindset in South Africa. This national study won the Global Entrepreneurship Network’s 2018 Compass Award for Research Champions.

In his role as Professor at the College of Charleston (SC, USA) he won the College’s 2016 Distinguished Research Award. His research in entrepreneurship has been supported by the Ewing Marion Kauffman Foundation and by the US National Science Foundation.

 

GBAN regularly provides a one-hour open platform for us to share our developments from the field at the Field Calls to facilitate more knowledge exchange and foster cross border cooperation. 

If you are interested in joining our next discussion of new developments in the field of angel investing, please contact Sarolta Borzási at sarolta@genglobal.org.

 

Sarolta's work focuses on building relationships between public policy experts around the world via Startup Nations network and managing GBAN,… About the author