SUPPORTIVE ENTREPRENEURIAL FIGURES: EXAMINING THE ROLE OF GENDER AND RACIAL HOMOPHILY AND STATUS ON NEW VENTURE CREATION

Although women and racial minority entrepreneurs make considerable contributions to society by creating their ventures, they often face additional barriers and limitations that explain the differential rate of new venture creation between men and women, White and racial minorities. Therefore, it is crucial to uncover mechanisms to help support women and racial minorities in the venture creation process. One such mechanism is supportive entrepreneurial figures such as entrepreneurial role models, mentors, and founders, all of which can play an essential role in the decision to become an entrepreneur. Despite understanding the positive influence that these supportive entrepreneurial figures can have on entrepreneurial behavior and outcomes, research has yet to examine how these relationships are shaped by the gender and race of the supportive entrepreneurial figure in the process of new venture creation. I test hypotheses with a sample of 417 entrepreneurs across two-time points. Results are intricate and complex, illustrating how in some cases, the positive influence of the entrepreneurial role model, mentor, or founder is dependent on the gender or race of that individual. My findings contribute to how supportive entrepreneurial figures shape new venture creation for women and racial minority entrepreneurs.