--- id: "pisquared:interview/Assenova-Valentina" type: "Pi-Squared interview" title: "Anita McGahan in conversation with Valentina Assenova" url: "https://pisquared.theburnescenter.org/interviews/assenova-valentina" date: "2026-05-08" people: ["Anita McGahan","Valentina Assenova"] summary: "Valentina Assenova is the Edward B. and Shirley R. Shils Endowed Term Assistant Professor of Management at the Wharton School, where she is a Faculty..." recording: "https://vimeo.com/1190926631" source: "Pi-Squared (pisquared.theburnescenter.org), The Burnes Center for Social Change" licence: "none stated" --- # Anita McGahan in conversation with Valentina Assenova Valentina Assenova, Edward B. and Shirley R. Shils Endowed Term Assistant Professor of Management, The Wharton School · 8 May 2026 ## About the guest Valentina Assenova is the Edward B. and Shirley R. Shils Endowed Term Assistant Professor of Management at the Wharton School, where she is a Faculty Affiliate of the Mack Institute for Innovation Management, the Penn Development Research Initiative, and the Perry World House. Her research and teaching interests center on entrepreneurship and social entrepreneurship. She holds a Ph.D. and two Master’s degrees from Yale University, an M.B.A. with first-class honors in International Management from the University of Cambridge, and a B.Sc. in Economics with honors from the Wharton School. At Wharton, she is an award-winning teacher and researcher that is widely covered in the media. Her research has two core themes: (1) the role of accelerators and incubators as tools for entrepreneurial learning and new enterprise development, and (2) the role of formal and informal institutions in explaining variation in entrepreneurship and enterprise formation rates across countries and regions. ## Reflections from the interview Anita and Valentina discussed Valentina's research on entrepreneurship, incubators, and accelerators across different global contexts. Valentina explained how incubators support early-stage founders in developing human capital and capabilities, while accelerators focus on more established startups with specific ideas, often involving cohort-based learning and equity commitments. They discussed Valentina's comparative research between programs as diverse as in Soweto, South Africa, and Silicon Valley.  The conversation centered on the critical role of training that meets the specific needs of founders in the local context.  In reflecting on an integration between the two major themes in Valentina’s research, the discussion covered how informal institutions and corruption can create barriers for entrepreneurs, particularly women and marginalized groups, while digital platforms like mobile money can help bypass infrastructure limitations. Valentina emphasized the importance of developing local educational systems and leveraging existing cultural and institutional advantages rather than trying to emulate successful models from other countries. **Incubators vs Accelerators Discussion** Anita and Valentina discussed the differences between incubators and accelerators in startup development. Valentina explained that incubators focus on nurturing new ideas and developing human capital for potential founders, while accelerators support more established startups with concrete ideas by connecting them to investors, mentors, and peers. She noted that accelerators typically have cohort-based programs with time-bound commitments and sometimes require equity from founders. Valentina shared findings from her research on an incubator in Soweto, South Africa, which supports founders lacking human capital and knowledge in firm creation, and her studies on global accelerators that help overcome barriers to venture founding. **Entrepreneurship in Soweto Challenges** Anita and Valentina discussed entrepreneurship in different contexts, particularly focusing on Soweto in Johannesburg and its unique challenges due to historical racialized violence and the country’s colonial legacy. Valentina explained how entrepreneurship serves as a pathway for creating opportunity in areas with high unemployment and underemployment, influenced by deep-rooted social, racial, and economic inequalities. They noted the interest of governments and NGOs in creating positive economic empowerment opportunities in low-opportunity settings. **Entrepreneurship and Startup Support Initiatives** Valentina discussed the debate around entrepreneurship’s role in enhancing managerial capabilities and creating jobs, particularly in addressing youth unemployment in South Africa. She explained her work with Google for Startups, which aims to broaden access to startup knowledge and playbooks from Silicon Valley for entrepreneurs in emerging economies. The focus of this initiative is on supporting high-growth companies by leveraging local ecosystem partners and transferring knowledge from U.S. tech companies like Google. **Knowledge Transfer in Entrepreneurship Training** Valentina and Anita discussed the importance of knowledge transfer and entrepreneurship training in Africa and India. Valentina emphasized the role of incubation and entrepreneurship training in conveying basic business education and support to youth who might otherwise lack access to important relationships and insights. They highlighted the significance of tacit knowledge and experiential learning in developing successful founders, noting the challenges faced in informal economies, especially by women and socially marginalized individuals. **Institutional development** Anita and Valentina discussed Valentina's work on institutional development across different contexts. Valentina explained how bureaucratic barriers and corruption can force individuals to operate informally, limiting their access to external financing. Anita noted Valentina's research with Martin on leadership capacities and her study with Aparjita on mobile money. Valentina discussed the importance of understanding informality in organizations, particularly in contexts with limited infrastructure and public services. She advised policymakers not to attempt to replicate successful models like Silicon Valley, but instead to leverage local advantages and build educational systems to develop human capital in key industries. Valentina emphasized the need for intellectual humility in entrepreneurship research, suggesting that scholars should look beyond U.S.-centric views to learn from other global ecosystems. ## Related resources - [Valentina’s Wharton website](https://mgmt.wharton.upenn.edu/profile/vaa/) - [Valentina on Google Scholar](https://scholar.google.com/citations?user=MPmRPOoAAAAJ&hl=en&oi=ao) - [Valentina’s paper in the Strategic Management Journal on knowledge and accelerators](https://sms.onlinelibrary.wiley.com/doi/full/10.1002/smj.70032) - [Valentina’s paper with Sophie Bacq on the dual purpose of accelerators](https://scholar.google.com/citations?user=XcRMbIwAAAAJ&hl=en&oi=ao) - [Valentina’s co-authored paper in Science on crowdfunding](https://www.science.org/doi/full/10.1126/science.aaf6989) ## Recording Video: https://vimeo.com/1190926631 ## Category [Where Do We Go From Here?](https://pisquared.theburnescenter.org/category/where-next) * * * Original page: https://pisquared.theburnescenter.org/interviews/assenova-valentina · Licence: none stated