Digital Startup Access to Venture Capital Financing: What Signals Quality?

Nirjhar Nigam*, Christine Benetti, Sofia Johan

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

9 Citations (Scopus)
6 Downloads (Pure)


What signals quality for digital startups seeking access to external finance? Analyzing a unique dataset from India, we investigate the impact of traditional quality signals (e.g., the founders’ years of experience, prior industry experience); networking signals (e.g., degrees from elite educational institutes, the breadth of an entrepreneurial team); and digital signals (e.g., the social media presence of the startup on multiple social media sites) on the access to venture capital financing. We find that while networking and digital signals positively impact access to financing, traditional human capital signals do not have any significant impact on the process.
Original languageEnglish
Article number100743
Number of pages37
JournalEmerging markets review
Early online date6 Oct 2020
Publication statusPublished - 1 Dec 2020


  • Startups
  • entrepreneurship
  • financing
  • Digital Signals
  • human capital
  • social media networking
  • venture capital
  • signals


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