Presentation of the 2026 zfo Award for Young Researchers

At the 85th annual conference of the Association of University Professors of Business Administration (VHB Conference), held March 18–20, 2026, in Göttingen, Amanda Baum (Ph.D. candidate in the Data-Driven Innovation Research Group, TUHH), Prof. Dr. Pauline Reinecke (Assistant Professor of Business Administration, specializing in Strategic Entrepreneurship, Leuphana University of Lüneburg), and Prof. Dr. Moritz Göldner (Assistant Professor, Data-Driven Innovation Research Group, TUHH) were awarded the zfo Prize for Young Researchers by the Scientific Commission for Organization for the  paper: “Hot Market, Cold Feet: Entrepreneurs’ Storytelling Between Public Enthusiasm and Investor Hesitation.”
The award-winning paper examines how founders deal with conflicting reactions to innovative business ideas—particularly when these ideas address socially sensitive or partially taboo topics. In such markets, a tension often arises between public attention and enthusiasm (“hype”) and simultaneous reluctance or skepticism (“stigma”). Using the example of 30 companies in the currently rapidly growing German femtech market—that is, technologies related to women’s health—the study shows that this tension becomes particularly evident in discussions with investors. While women’s health topics are receiving increasing public attention and positive reception, investors sometimes react with caution or uncertainty in direct conversations. For founders, therefore, how they communicate and position their business idea becomes crucial.
The researchers identify three key communication strategies (“storytelling approaches”) that founders can use to overcome these challenges. The findings expand the entrepreneurship literature on storytelling, hype, and stigma, and provide important practical guidance for founders, investors, and other stakeholders in innovation promotion.