Start-up Performance Research Articles

The Impact of Human Resources Competency on the Performance of Micro-Sized Startups

The Impact of Human Resources Competency on the Performance of Micro-Sized Startups

Enhancing the Performance of Indonesian E-Business Start-Ups: The Influence of Innovation Capability and Dynamic Capability

Enhancing the Performance of Indonesian E-Business Start-Ups: The Influence of Innovation Capability and Dynamic Capability

Are accelerators akin to breweries or wineries? A Bayesian variance decomposition of accelerator and cohort effects

AbstractResearch SummaryThe literature on startup accelerators uncovers multiple factors associated with accelerators’ advantages. Yet, we have a limited understanding of the relative magnitude of these factors. We ask: Are accelerators akin to breweries, where quality is mainly a function of the institution of origin (i.e., brewery for beer, accelerator for startups); or are they similar to wineries, where quality varies across cohorts (i.e., for a given winery, some vintages are of higher quality)? We explore this question using data from 1,350 tech‐startups graduating from dozens of accelerators in a global technology hub. A Bayesian hierarchical variance decomposition approach is introduced to account for the highly‐skewed zero‐inflated distribution in startups’ performance. We find that a notable fraction of startup performance is due to vintage; within‐accelerator, cross‐cohort variation.Managerial SummaryStartup accelerators (i.e., short‐term programs designed to help startups grow) are highly popular, with dozens of accelerators operating around the globe. Our focus is on accelerator programs aimed at catapulting technology ventures towards high growth. We ask: Are accelerators akin to breweries, where quality is mainly a function of the institution of origin (i.e., brewery for beer, accelerator for startups); or are they similar to wineries, where quality also varies across cohorts (i.e., for a given winery, some vintages are of higher quality)? A Bayesian hierarchical variance decomposition approach isused to study data from a global technology hub, detailing the performance of hundreds of startups that graduated across multiple accelerators. We find that a significant portion of startup success is linked to cohort‐specific factors within accelerators, highlighting the role of timing and dynamics of each accelerator cohort.

Analyzing the Impact of Scientific and Technological Innovations on Financial Performance: A PCA-Based Study of an AI Healthcare Startup

This study explores the relationship between scientific and technological innovations and the financial performance of startups, focusing on a representative Artificial Intelligence (AI) healthcare startup. Utilizing Principal Component Analysis (PCA), the research aims to dissect the complex interplay between innovation-related metrics—such as R&D spending, patent counts, and technology adoption rates—and financial outcomes like revenue growth, profitability, and market share. The PCA methodology enabled the reduction of high-dimensional data into PCA, which clearly illustrates how several dimensions of innovation impact financial metrics. The approach used in the investigation helps people comprehend more thoroughly how development benefits business viability in several different manners and provides startups with practical advice to use when preparing their revolutionary investments. This paper aims to assist the ecosystem of startup consumers (including investors, business owners, and policymakers) in making better decisions that balance technological progress with economic objectives.

Start-Up and Fault-Ride-Through Strategy for Offshore Wind Power via DRU-HVDC Transmission System

The diode-rectifier unit (DRU)-based high-voltage direct current (HVDC) transmission system offers an economical solution for offshore wind power transmission. However, this approach requires offshore wind farms to establish a strong grid voltage. To meet this requirement while fulfilling the dynamic characteristics of the DRU, this paper proposes an advanced grid-forming (GFM) control strategy for offshore wind turbines connected to DRU-HVDC. The strategy incorporates a P-U controller and a Q-ω controller based on reactive power synchronization. Furthermore, a novel virtual power-based pre-synchronization method and an adaptive virtual impedance technique are integrated into the proposed GFM control to improve system performance during wind turbine (WT) integration and low-voltage ride-through (LVRT) scenarios. The virtual power-based pre-synchronization method reduces voltage spikes during the integration of new wind turbines, while the adaptive virtual impedance technique effectively suppresses fault currents during low-voltage faults, enabling faster recovery. Simulation results validate the effectiveness of the proposed GFM control strategy, demonstrating improved start-up and LVRT performance through the pre-synchronization and adaptive virtual impedance methods.

A study of the influence of family involvement on the IPO performance of Korean start-ups

ABSTRACT This study examines what types of abilities of the top management team influence the market value at initial public offering (IPO) and especially focuses on how family involvement influences the effect of top management on the market value at IPO. As a result, first, the more top managers with the output function background or the relevant industry experience the top management team has, the higher the market value at IPO is. Second, the more family members participate on the board of directors, the stronger the impact of the top management team’s output function background or relevant industry experience on the market value at IPO.

청년창업가의 개인역량과 창업준비수준이 창업성과에 미치는 영향 요인 연구 : 창업컨설팅의 조절효과 중심으로

The purpose of this study was to verify the effect of young entrepreneurs' individual competency and start-up preparation level on start-up performance and the moderating effect on the reliability and satisfaction of start-up consulting. To this end, 190 surveys collected for young entrepreneurs living across the country were used for empirical analysis, and hierarchical regression analysis was conducted using SPSS v28.0. As a result of the analysis, first, it was found that item selection and start-up preparation period had a significant effect on start-up performance, which is a dependent variable among young entrepreneurs' individual competencies, and it was found that start-up funds did not significantly affect start-up performance among individual competencies in leadership competency, technological innovation competency, and start-up preparation level. Second, the moderating effect, consulting reliability and satisfaction, was found to partially control the individual competency and start-up performance of young entrepreneurs, and there was no moderating effect between the start-up preparation level and start-up performance of young entrepreneurs. Therefore, it can be confirmed that the individual competency and start-up preparation level of young entrepreneurs are important variables as they affect start-up performance. The results of these studies are hoped to be helpful to young entrepreneurs preparing for start-ups and policy makers for start-up support in customized policies for fostering young entrepreneurs.

Digital Marketing and Financial Performance of Business Start-Ups in Tuguegarao City: a Basis for Service Learning Program

Digital Marketing and Financial Performance of Business Start-Ups in Tuguegarao City: a Basis for Service Learning Program

The Role of Innovation in the Success of Modern Startupreneurs

The study examines Innovation Capability, Team Creativity, External Environ- ment, and Start-up Performance as key research factors, the study attempts to investigate the impact of innovation in the success of contemporary businesses. Innovation Capability, Team Creativity, External Environment, and Start-up Per- formance are the research factors that were examined. (Start-up Function). Through surveys of start-ups in a variety of industry sectors, the data was gath- ered. The analysis’s findings demonstrate that a start-up’s performance is sig- nificantly impacted by its capacity for innovation. It has also been discovered that team creativity is crucial for enhancing innovation and startup performance. The creativity driving innovation is significantly enhanced by frequent brain- storming sessions and diverse team backgrounds, the diversity of backgrounds within the team, and the degree of team collaboration. Furthermore, govern- mental regulations, technological accessibility, and cooperative networks with academic institutions are examples of the external environment that fosters cre- ativity and improves start-up performance.The study’s conclusions highlight the importance of innovation in the success of contemporary startupreneurs. Sup- porting innovation and enhancing business performance also heavily depends on the inventiveness of the team and a favorable external environment. Therefore, strategic measures to success in contemporary entrepreneurship include devel- oping an ecosystem that fosters invention, managing team dynamics skillfully, and establishing an organizational culture that values creativity

The Power of Big Data Analytics for the Competitive Performance of Digital Startups in an Emerging Economy

The Power of Big Data Analytics for the Competitive Performance of Digital Startups in an Emerging Economy

Effect of localized dry-out on startup and steady-state operation characteristics of ethanol-based oscillating heat pipes

It’s a significant challenge to choose a suitable heat dissipation method in different electronics assembly environments requiring different heat transfer distances. Oscillating heat pipes are promising heat exchangers, but localized dry-out during operation leads to an unstable heat transfer and limits further application of oscillating heat pipes. To extend the applicability of oscillating heat pipes, it is essential to reveal the localized dry-out characteristics under various heat transfer distances. In this study, the impact of localized dry-out on the multi-stage operating characteristics of ethanol-oscillating heat pipes with various heat transfer distances was investigated through partial visualization experiments. The anti-dry-out capacity of ethanol-oscillating heat pipes was quantitatively evaluated and compared with that of water-oscillating heat pipes. The experimental results revealed that the dry-out performance was closely related to the flow motion of the operating fluid. The stagnation of the operating fluid was the primary cause of localized dry-out. Localized dry-out deteriorated the startup and heat transfer performances of oscillating heat pipes. The anti-dry-out capacity first improved and then diminished as the heat transfer distance increased. The results also revealed that ethanol exhibited superior dry-out performance compared to water, especially at long heat transfer distances. Besides, an empirical correlation equation was fitted to evaluate the anti-dry-out capacity of oscillating heat pipes under different heat transfer distances based on the experimental results. The empirical correlation equation about the Ku number could be a reasonable predictor of the anti-dry-out capacity of oscillating heat pipes. The predicted results were in good agreement with the experimental results, with 86 % of the data deviating within ±20 % and an average standard deviation of 19.72 %. This research closed the gap in the prediction for the anti-dry-out capacity and provided a valuable reference to broaden the applicability of oscillating heat pipes.

Developing and validating a scale for entrepreneurial marketing orientations: EMICO framework and its impact on business performance in startups

PurposeAlthough marketing is essential for a firm’s survival and growth, a set of entrepreneurial strategic orientations may help it gain a competitive advantage. Entrepreneurial marketing (EM) is critical for growing businesses to succeed in today's fast-paced industry. The present study aims to measure the role of EM on the business performance (BP) of Indian startups.Design/methodology/approachFor this purpose, a thorough literature review was conducted to develop a scale from the proposed conceptual framework – EMICO by Jones and Rowley (2009b). To assess the reliability and validity of the scale (62 items), the data are analyzed by employing partial least square-structural equation modeling (PLS-SEM).FindingsThe scale is empirically tested, and the results lead to discussions. The results show the positive impact of entrepreneurial orientation (EO), marketing orientation (MO), innovation orientation (IO) and customer orientation (CO) on the BP of the startups. The paper concludes by suggesting managerial and practical implications, also providing future research agenda.Originality/valueOur objective is to address the existing dearth of comprehensive scales for evaluating EM by undertaking a rigorous statistical approach. Notably, our research represents the pioneering effort in adopting the EMICO framework and subsequently formulating and empirically validating a robust scale specifically tailored for nascent or small-scale startups within the Indian context.

Early-stage entrepreneurs’ communicative strategies in managing knowledge ambiguity

ABSTRACT Prior research demonstrates the importance of knowledge seeking on startup performance, but the process of accessing knowledge is less studied. Knowledge ambiguity in entrepreneurship is embedded in the complexities and interconnectedness of knowledge sources, knowledge components, knowledge transfer mechanisms, and knowledge adaptation processes. This study explores the communicative strategies entrepreneurs use to cope with knowledge ambiguity, specifically with the use of online and offline channels. Interview data were collected from 20 early-stage entrepreneurs in the knowledge-intensive industries in the New York metropolitan area. Five strategies emerged from the data: manage public visibility, optimize knowledge relevance, enhance communication efficiency, expand knowledge awareness, and access indirect knowledge. This research contributes to the knowledge of how communication and media use unfold in resource-constrained environments and to the growing literature of entrepreneurial bricolage (make do with what is at hand) in knowledge management.

The impact of startup subsidies on survival, growth, and stakeholder value

ABSTRACT Although the effects of subsidies on the survival, financial performance, and behavioral changes of startups have been extensively studied, their influence on economic value creation and distribution to stakeholders remains underexplored. To address this gap and mitigate publication bias, we examined the entire number of subsidies received by all Spanish startups at founding (51,495) over a decade, analyzing their outcomes 5 years after inception. We employed statistical matching methods controlling for the startups’ founding conditions. The study revealed that subsidies have a positive impact on startups’ growth and provide a significantly higher likelihood of survival; however, no significant effect on profitability was observed. Receiving a subsidy should be considered alongside other factors in explanatory models of business survival. Subsidies are associated with increased economic value creation and distribution to employees but not to the government through taxes. These findings underscore the importance of understanding the long-term consequences of subsidies on stakeholders.

Experimental Study on Startup Performance of a High-temperature Liquid Metal Heat Pipe with Fins

Experimental Study on Startup Performance of a High-temperature Liquid Metal Heat Pipe with Fins

Impact of the digital entrepreneurial ecosystem on startup performance: An empirical study from China

Digital innovation and entrepreneurship activities are quite active and developing rapidly in China. However, the ways in which digital startups can efficiently utilise digital entrepreneurship ecosystems (DEEs) to improve their entrepreneurial performance remains unclear. To address this question, this study analysed data from 206 digital start-ups in China and found: 1) Ecological niche and ecological relationship significantly contribute to digital entrepreneurial performance. 2) Resource bricolage and opportunity iteration have a chained mediating effect between DEE and digital entrepreneurial performance. 3) Digital capability has a positive (negative) moderating effect between ecological relationship and resource bricolage (opportunity iteration). Finally, this study explores the implications of these findings and future research directions.

Impact of university-industry R&D collaboration on innovation transfer and startup performance

Effective partnership of education and business is a catalyst for innovation transfer, startup ecosystem development and sustainable economic growth. The research aims to identify the impact of university-industry R&D collaboration on startups performance, taking into account existing knots and gap intervals. The study sample was formed for 100 world countries, represented in the Global Startup Ecosystem Index rating. The formed base includes data of the University-industry R&D collaboration indicator within the Global Innovation Index 2023 by WIPO and data of the Global Startup Ecosystem Index 2023 by StartupBlink. In the first stage, the procedures for checking the significance of investigated indicators were applied, including descriptive statistics, checking the distribution law and regression analysis. The second stage covers the construction of median-spline plots, scatter plots and spline modelling using the STATA 18 program complex. The range of values of the University-industry R&D collaboration index was determined on the condition of reaching which the maximum statistically significant value of the indicator of startup productivity is predicted. The obtained results confirm the importance of an entrepreneurial university concept for innovation transfer and their commercialization and provide a view of the targeted value of the University-industry R&D collaboration on average at the world level.

The effect of collaborative governance in social startups on social performance: The mediating effect of economic performance

Our paper empirically confirms that collaborative governance in social startups affects social performance through mediating economic performance. While there is a growing literature on the sustainable growth and performance of social economy organizations, empirical research on social startups is very scarce. Therefore, this study can contribute to the knowledge of social economy and entrepreneurship research through an empirical study that identifies factors for social startups' performance. This study utilized data from 399 social startups that are commercial companies such as corporations, which are the legal form of startups in South Korea, and the results of the analysis are as follows. First, cooperative governance of social startups had a significant positive effect on economic performance, and social performance also had a significant positive effect. Second, the economic performance of social startups had a significant positive impact on social performance. Finally, collaborative governance in social startups affected social performance through the mediation effect of economic performance. The implications and insights of this study are as follows: First, we find that collaborative governance has a positive impact on both economic and social performance of social startups, and thus is a key factor in the success of social startups. Second, this study represents the first empirical study on the performance improvement of social startups and suggests collaborative governance as an important success factor for social startups.

Learning from Yesterday: Predicting early-stage startup success for accelerators through content and cohort dynamics

As the demand for seed accelerators grows, so does the complexity of their evaluations of numerous startup applications. This paper introduces a novel two-phase data-driven framework for startup performance prediction. Phase 1 extracts founding team-level and venture-level features applicable to early-stage startups for success prediction. Phase 2 further engineers cohort-level features to predict the success of accelerator-admitted startups. We demonstrate the utility of our framework by leveraging machine learning methods coupled with real-world data of 35,647 startups (accelerator intakes: 763). We achieve high predictive accuracy and produce explainable results. We make methodological contributions to startup competitor detection and industry categorization. The key insight of our study is that member success largely depends on cohort-level features such as shared industries with different members and industry similarity to the accelerator's past portfolio.

A tungsten-wall sputtering model for the plasma start-up simulation in tokamaks

Abstract Tungsten (W) is the most probable material for the plasma-facing components of fusion reactors due to its excellent thermal and physical properties. A W-wall sputtering model has been established to simulate the start-up of a tokamak plasma using the 0D simulation code DYON. This model incorporates the revised Bohdansky formula to calculate the sputtering yield and a modified formula for calculating the energy impacting the walls. This formula integrates the temporal behavior of electron and ion temperatures at the plasma edge, which has been partially verified by the Thomson scattering diagnostic data. With the new model in place, predictive simulations were conducted for KSTAR’s Ohmic plasma under two W-wall scenarios: one with the entire wall surface covered by W and the other with 95% coverage of W and 5% coverage of carbon (C). The results indicate that the full-W wall may perform better from the perspective of start-up performance. The disparity can primarily be attributed to impurities generated through sputtering and recycling on the C wall. The validity of this model will be finally confirmed when the Thomson diagnostic system is able to precisely measure the edge electron temperature during plasma start-up.