Application of Graph Theory to Entrepreneurship Research: New Findings and a New Methodology Framework

Abstract

This study used Graph Theory to examine relationships within the Greek ICT start-up ecosystem, analyzing founders’ views, strategies, and current perceptions regarding their ICT start-ups. The sample consisted of more than 90 founders of Greek IT start ups who participated in exhibitions as start-up companies during 2018 and 2019 and had completed at least one accelerator program. The study analyzed the dataset of a previous research project, using Graph Theory and R as the main tools for statistical analysis, in order to re-examine relationships between the key variables. The study highlighted a set of critical relationships and facts that were not revealed in past research. The dataset was first analyzed with the use of SPSS software for Pearson correlation, but using Graph Theory revealed a different picture. A literature review was also conducted to examine the key issues of entrepreneurship and Graph Theory and their applications to success factors for start-ups. The research findings provided a more precise understanding of the dynamics of Greek ICT start-ups, as well as the importance of Graph Theory for analyzing complex phenomena and business ecosystems. The findings may be useful for entrepreneurs, as they strive to increase the success rates of current and future projects, as well as for academics, since Graph Theory reveals a new, likely more effective and accurate way of analyzing data and estimating relationships in complex environments.
 Keywords: innovation management, marketing, start-ups, founders, business models, entrepreneurship, strategy, Greek, Graph Theory