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The purpose of this paper is to analyze the main changes introduced by Law 28/2022, of 21 December, on the promotion of the startup ecosystem, commonly known as the "Startup Law", more than a year after its entry into force. We will focus on the issues that most directly affect the entrepreneurial and investor ecosystem, and we will address some of the issues that raise the most interpretative doubts or that we believe could have been reworded to cover a larger number of companies. [ABSTRACT FROM AUTHOR]

Start-ups, due to their high growth potential, face the problem of raising finance. This paper reflects on the empirical evidence dealing with conflicts of interest that arise in the field of equity financing by new partners. When the firm wishes to make a new share issue, it faces the problem of information asymmetry when setting an issue price. As a result, the shareholder tries to protect himself through anti-dilution clauses. Empirical studies show an interest of the majority shareholder in enjoying and retaining the private benefits of control. Empirical evidence also supports the lack of alignment between the director and the owner. We can draw the conclusion that business reality is a complex reality in which conflicts of interest arise. These conflicts of interest bring financing difficulties when trying to attract new capital contributions from new partners and thus cause capital constraints. [ABSTRACT FROM AUTHOR]

Nowadays, the business environment has developed non-banking financing alternatives especially adequate for Venture Capital, mainly for those technology-based companies, essential for any developed economy. With this, entrepreneurs seek for funds to finance their business activities whilst investors look for projects with interesting returns at medium term. In order to do so, it is especially important that they agree with the value of the startup. This paper realizes a theoretical review about valuation methods used for venture capital investments. [ABSTRACT FROM AUTHOR]

This paper makes a review of the importance of cross competences for entrepreneurs and their successful entrepreneurship, and how Venture Capital and professional investor values competence profile when making their investment decisions. The main concepts and definitions in the literature, as well as a unifying, practical and functional proposal of the concept of cross competences are also reviewed, identifying those most relevant to the entrepreneur and the most valued by professional investors. Additionally, the status of top-level training programs, in universities and business schools, is analyzed in terms of the education of students, potential entrepreneurs, and major constraints and gaps are identified. [ABSTRACT FROM AUTHOR]