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Investors Are More Likely to Back Startups on Sunny Days, a Study Finds

• Bostonian 4y ago
  "Prof. Dushnitsky and another researcher used data from 1,335 startups that graduated from European accelerators—mentor-type programs for early-stage companies. The researchers compared weather data from the location of each “demo day”—a showcase for entrepreneurs to meet investors—with data from the day prior. They controlled for a host of other factors, including the founders’ backgrounds, age and prior entrepreneurship experience. The results: Entrepreneurs attending a meetup on a sunnier day received funding 22% of the time, compared with 15% for days that were less sunny than the day prior, according to the research, published in the Academy of Management Journal earlier this year." The abstract is at https://journals.aom.org/doi/10.5465/amj.2019.0128 https://journals.aom.org/doi/10.5465/amj.2019.0128