New venture founders and their sponsors seek to create economic value by finding and commercializing new and better ways of doing things. Their common goal, which also defines the purpose of the entrepreneurial process itself, requires a better grasp of the key elements that influence the choices involved in attempting to create economic value under highly uncertain conditions. It also requires a deeper understanding of the consequences of new venture investment as well as the various contextual factors that influence investment decisions and venture outcomes. When confronted with a...