Advisory Boards in Startups

Investigating the Roles of Advisory Boards in German Technology-Based Startups

  • Eric Weber

Table of contents

About this book


The author shows that advisory boards in technology-based startups have seven different roles and functions: control, advice, networking, signalling, capital provision, co-management, coordination. It is shown that venture capital investors try to influence the importance of these roles in favour of control, coordination and co-management. Contrary to this, the satisfaction of founders as well as advisory board members increases with a higher importance of advice, networking and signalling. This analysis provides both qualitative and quantitative empirical data on the usage of those boards in practice.


  • Literature Review of Research on Governing Boards
  • Roles of Governing Boards Explained through Agency Theory, Resource Dependency Theory, Stewardship Theory, Stakeholder Theory, Institutional Theory and Managerial Hegemony
  • Exploring Roles Using Qualitative and Quantitative Methods
  • Recommendations How to Use Advisory Boards in Practice

Target Groups

  • Researchers and students of business-related fields, particular entrepreneurship and corporate governance
  • Entrepreneurs and investors, especially in the context of technology-based startups

The Author
Eric Weber co-founded SpinLab – The HHL Accelerator, a program that supports technology-based entrepreneurs in cooperation with HHL Leipzig Graduate School of Management, where he worked as research associate and startup coach and dealt with the field of entrepreneurship from both a practical and theoretical perspective


Corporate Boards Beiräte Entrepreneurship Corporate Governance Leadership

Authors and affiliations

  • Eric Weber
    • 1
  1. 1.SpinLab – The HHL Accelerator LeipzigGermany

Bibliographic information

Industry Sectors
Finance, Business & Banking