11. The term “angel investors” refers to private individuals who provide seed capital to young ventures. True False 12. Venture capital is a form of public equity financing used to help young firms grow rapidly. True False 13. To obtain venture capital financing business founders often have to give up some ownership and control of their business. True False 14. According to the text venture capitalists and angel investors regard the management team as the most important asset of an entrepreneurial venture. True False 15. Because of the Small Business Administration and government regulations small businesses are rarely allowed to bid on government contracts. True False 16. An entry wedge according to the text is a type of entrepreneurial strategy firms can use to enter into business. True False 17. Founders using a pioneering new entry strategy look for opportunities to capitalize on proven market successes. True False 18. Adaptive new entry involves offering a radical new product or highly innovative service. True False 19. Rather than fighting over existing customers firms pursuing a “blue ocean” strategy seek opportunities in uncontested markets. True False 20. “Blue ocean” strategies rarely provide sustainable advantages because they are easily imitated. True False
