Successful Start-up Research Articles

A contingency perspective on manufacturing configurations for the circular economy: Insights from successful start-ups

While the circular economy offers a hopeful prospect for the future in terms of environmental sustainability, the main barrier regarding the industrial adoption is its financial viability. Supply characteristics such as heterogeneous quality, insufficient quantities and uncertain timing of used products often constrain manufacturing activities, consequently leading to mediocre financial viability. Building on contingency theory, this paper sets out to explore how to configure circular manufacturing activities in alignment with supply characteristics. Building on a sample of 96 successful circular start-ups, we collected data on the manufacturing activities in terms of grading and sorting activities, the production type and the product transformation as well as the supply characteristics in terms of heterogeneous quality, insufficient quantities, uncertain timing and the residual value of the used products. Qualitative Comparative Analysis (QCA) reveals three manufacturing configurations used by successful circular start-ups to extend product value, extend resource value and process used products. Each configuration is applied under different supply characteristics. As such, the research highlights the contingency factors for when, when not and how to adopt a given manufacturing configuration in the context of the circular economy. Moreover, by analyzing the manufacturing configurations, this study redirects the focus towards the until now under-researched circular economy in the process industry instead of the more heavily researched discrete remanufacturing activities. The three manufacturing configurations and the supply characteristics in which to apply them serve as a starting point for further research.

INCUMBENT’S CURSE REVISITED: ARE FIRM STEREOTYPES BENEFICIAL OR HARMFUL FOR ESTABLISHED COMPANIES PURSUING RADICAL TECHNOLOGICAL INNOVATIONS?

Established companies often struggle while start-ups gain market share by pursuing radical technological innovations. Research has found that internal organisational barriers can cause this incumbent’s curse, but it has not explored the role of external actors. Drawing on social judgements of organisations theory, we suggest that potential consumers possess firm stereotypes (i.e., warmth and competence perceptions), which affect their expectations about the success of established companies and start-ups in pursuing radical technological innovations. Findings from three experimental studies show that established companies are perceived as more competent but less warm than start-ups. This perception leads to higher success expectations for established companies pursuing radical technological innovations. Yet, these benefits are no longer present after the revelation of information about a fatal error.

The role of cultural innovation in the success of luxury startups

AbstractLuxury startups' sensibility to the social and cultural environment is the dimension that in addition to the technical and strategic excellence and pricing strategy ensure the firms' long‐term success. Incorporating a humanities approach and design theory in the study of business challenges leads to articulated solutions. Luxury that is enduring, addresses the customer on a cognitive level and not solely on an emotional or physical one. A response to a startup's cultural context is the key to achieving internal consistency and (external) resonance with the consumers.

The Role of Formal Education in Promoting Entrepreneurial Spirit Alakhawayn University as a Case Study

This study is carried out with students of the School of Business Administration in Alakhawayn University, Ifrane (AUI), Morocco, with the aim of exploring their attitudes and mindsets towards entrepreneurship. To this end, a questionnaire was administered to 150 students including current and graduated students. Semi-structured interviewing was also adopted as a data collection tool to get an in-depth and comprehensive understanding of the respondents’ attitudes and lived experiences vis-à-vis entrepreneurship education. This study concluded that entrepreneurship education promotes the spirit of initiative and entrepreneurship, fosters entrepreneurial mindsets and forms well-prepared individuals to overcome the obstacles lurking in the entrepreneurial route. In addition, it not only provides students with adequate knowledge and skills required to build a successful start-up but also boosts their entrepreneurial awareness. Keywords: Entrepreneurship education, university-educated entrepreneurs, students’ perceptions. DOI: 10.7176/JEP/13-15-02 Publication date: May 31 st 2022

Saudi Universities Rapid Escalation in Academic Ranking Systems: Implications and Challenges

High scientific output has made two Saudi universities perform well in academic ranking systems. The improvement in university ranking is generally observed in other indicators such as the innovation index, the abundance of cutting-edge research, and the number and success of patents and startups. In this paper, the impact of research output of highly cited researchers at two Saudi public universities is investigated from different standpoints and compared with international examples. Many citation databases, ranking systems and international indicators have been used in this paper to thoroughly discuss the research and development landscape in Saudi Arabia. Saudi public universities have the greatest number of highly cited researchers who mostly have another international affiliation. The Saudi academic patent number has increased dramatically since 2014, with minimum improvement in the country’s innovation and startups performance. Many of the Saudi highly cited papers are scattered in the literature with neither a specific targeted field nor follow-up studies. The role of the Saudi universities in industrial collaboration, technology advancement and economic prosperity is less than expected considering the Saudi position on the international stage. Entrepreneurship, innovation and research commercialisation ought to be supported by more private and public initiatives. Transparency, critical thinking, and accountability are needed the most in Saudi academic institutes. Recommendations are given for improving the research culture and following the best practice.

Start-up considerations for a small vertical-axis wind turbine for direct wind-to-heat applications

Renewable production of space and water heating is needed for a sustainable society. The rotating shaft of a vertical-axis wind turbine can be equipped with a paddle wheel-style mixing impeller to directly heat a fluid by agitating or stirring the fluid. A Darrieus vertical-axis wind turbine, operating at or near its nameplate power capacity, is able to perform this function reliably as it is producing significant amounts of power; however, an autonomous wind-to-thermal system presents a challenge due to the difficulties associated with the start-up process of this type of turbine. The start-up difficulty is quantified herein by using a set of well-referenced vertical-axis wind turbine start-up data to derive the turbine’s torque and power values for each rotational velocity data point. It is shown that the turbine produces minimal positive torque during an extended region of operation around tip-speed ratio λ=1. A fluid-agitation thermal generator is considered by employing fluid mixing theory to compute the torque of a conceptual mixing impeller for different impeller diameters and styles. A thermal generator impeller is sized based on the derived experimental values and operational characteristics of the vertical-axis wind turbine data set. Thermodynamic analysis for the conceptual fluid-agitation generator shows that for an enclosed fluid volume ▪ = 1L, a fluid temperature rise of approximately ΔT=5°C can be achieved during one hour of system operation. The results demonstrate the potential of H-Darrieus turbines as renewable heat generating devices, while highlighting the need for careful system design to achieve successful start-up.

Functional Knowledge versus Strategic Knowledge: What Type of Knowledge Matters Most for the Long-Term Performance of Startups

ABSTRACTPast studies have shown that the flow of knowledge from incumbent firms is associated with the creation of startups and their subsequent performance. While much research has focused on the mechanisms of how incumbent-to-startup knowledge transfer takes place, such as entrepreneurs pursuing opportunities that their previous employers do not want to pursue, we explore with detailed qualitative analysis of six private startups in the Chinese synthetic-dye industry what type of knowledge actually flows and what type is more important for the long-term success of startups. We discover eight types of knowledge that flow from incumbents to new firms during the foundation of startups. Abstracting these eight types of knowledge into two general categories of functional knowledge and strategic knowledge, we find the reception of strategic (not functional) knowledge shapes the long-term competitiveness of surviving startups. Receiving technical knowledge – one type of functional knowledge – during the founding period is necessary for startups’ short-term survival but insufficient for long-term success. Our findings show that the performance implications of initial knowledge flows from incumbents hinge on the type of knowledge, contributing to a more explicit explanation of how incumbent-to-startup knowledge flows affect entrepreneurial performance.

Lessons Learned from Mena’s Biggest Exit the Case of Talabat and Formation of Entrepreneurial Model to Spot the Barrier to Growth and out of Valley of Death

Successful entrepreneurial start-ups follow somewhat similar pathways towards an entrepreneurial/corporate development and eventually an exit, where investors as well as founders are handsomely rewarded for their contribution by investors who purchase the company or float it in an Initial Public Offering at the financial markets. In this paper, we will explore and combine three different pathways for entrepreneurial companies towards corporation growth: 12 steps in value creation and corporate development, 6 steps in financing and 4 stages in knowledge creation. An attempt is made to combine and simplify the existing models with the purpose of identifying entrepreneurial barriers to growth and suggesting solutions. Furthermore, these models are tested and validated by so called “deep” qualitative interviews of 6 Kuwaiti entrepreneurs who are operating their own startups in Kuwait. The result is a Kuwaiti model for entrepreneurial pathways, pinpointing barriers to growth and ways out of the “Valley of Death” towards rapid corporate growth and entrepreneurial succession.

Interactive Effect of Success Factors for High-Tech Startups: Value Propositions, Target Market and Operational Excellence

Innovation-driven high-tech startups create long-term national competitiveness and socio-economic prosperity. However, a high failure rate of startups has resulted in reduced investor attraction for early-stage startups. Liability of novelty and longer time to market are additional challenges for high-tech startups. Considering such concerns, many researchers have discussed either a generic bouquet of success factors or a particular competitiveness factor specific to a context. Most of the prior research has considered such factors in isolation; however, practically, these factors influence each other, and their interactive effect ultimately influences startup success. This paper discusses the interactive effect among startup success factors for the first time. At first, this paper compiles a list of 33 success factors associated with the value proposition, market and operations. Further, the inter-relationship among these factors is illustrated in the form of two digraphs through Total Interpretive Structural Modelling (TISM). It is concluded that ‘Building Innovation culture in the team’ and ‘Comprehensive pre-startup planning’ with ‘Growth and Size of the Market’ are the root factors among proposed factors. Considering the questionable stage of high-tech startups, especially in emerging countries such as India, the proposed factors will help startups offer appropriate value propositions and operational excellence. The findings will enable the stakeholders in embedding their startups with proper ingredients and ultimately strengthen the early-stage startup ecosystem.

Design thinking as a start-up business planning strategy

This article discusses the peculiarities of startup success and the influence of design thinking, which is based on the methodology of solution design with a focus on human consumers, as the end user of a product or service. The startup is the first necessary stage of the life cycle of innovation. In order for the innovation to be successful, the design thinking methodology is used, which increases the predictability of success, speed of market entry and reduction of investment risks in the innovation. Actively working system of support for start-ups is the basis of active innovation activities, increasing the volume of innovative products, export of high-tech products. Development of startup projects is widespread abroad. It was found that the peculiarity of these successful projects is that they bring high profits, as well as raise the level of the economy in their countries. It is stated that it is important to study the issue of successful launch and implementation of startups through the structures that contribute to their development. Moreover, it is obvious that design thinking is the most successful methodology for creating innovations, which is actively used by various world-renowned companies. This article formulates a methodological model of design thinking for the main characteristics of startup success. The implementation of this model includes the following steps: generalization of the “startup” concept, generalization of the “design thinking” concept, identification of the stages of the startup life cycle, systematization of the key components of successfully realized startups, and analysis of the design thinking capabilities of the startup.

The Role of Internal Communication in Start-ups: State of Research and Practical Approaches

ABSTRACT Start-ups differ from established organizations in having limited routines and undergoing constant change that shapes their communicative structures. Although they are dependent on successful internal communication, its importance as a strategic discipline seems underestimated in practice. In addition, research on internal communication in start-ups has so far only focused on several sub-areas. In this article, internal communication is, in a first step, defined as a subdiscipline of strategic communication and elaborated on from the perspective of the Four Flows Model in order to allow a holistic view on internal communication. Secondly, we ask what role is attributed to strategic internal communication in start-ups across different stages of development in academic research and practice. Answers are provided through a multi-method design consisting of a systematic literature review in the fields of strategic communication, business management, and entrepreneurship, and 12 guided interviews with representatives of start-ups. Although both literature and interviewees identify internal communication as crucial to the success of start-ups, it mainly results from routine and is rarely strategically derived or evaluated. This study provides a more detailed insight into the role of strategic communication in start-ups, to which further studies can refer in order to fill the research gaps discussed.

Applying Machine Learning Approach to Start-up Success Prediction

Predicting the success of a new venture has always been a topical issue for both investors and researchers. Nowadays, it has become even more relevant concerning start-ups-young innovative and technology enterprises aimed at scaling their businesses. The purpose of this study is to create a model for predicting start-ups’ success based on their descriptive characteristics. A model that connects such start-up features as the period from foundation to the first financing, the area of activity, type, and amount of the first financing round, business model, and applied technologies, with the start-up investment success, which refers to re-investment, has been developed using data from the Dealroom platform on statistics of start-ups activity and their description. The final sample included 123 start-ups that are founded or operate in Ukraine. Three machine learning algorithms are compared: Logistic Regression, Decision Tree, and Random Forest. Acceptable results were obtained in terms of Accuracy, Sensitivity, and F-score, despite the limited data. The best model concerning start-up success prediction is determined by a Decision Tree, with an average effectiveness of 61%, 55%, and 52%, respectively. The AUC level for the Decision Tree achieved 58%, which is lower than the Logistic Regression and Random Forest scores (65%). But the last models had done so well by better predicting start-up failures, while more practical is the ability to predict their success. All models showed an acceptable level of AUC to confirm with confidence their effectiveness. The decision support system for the investment object can be helpful for entrepreneurs, venture analysts, or politicians who can use the built models to predict the success of a start-up. This forecast, in turn, can be used to drive better investment decisions and develop relevant economic policies to improve the overall start-up ecosystem

Transforming the German Food System: How to Make Start-Ups Great!

The food system represents a key industry for Europe and Germany in particular. However, it is also the single most significant contributor to climate and environmental change. A food system transformation is necessary to overcome the system’s major and constantly increasing challenges in the upcoming decades. One possible facilitator for this transformation are radical and disruptive innovations that start-ups develop. There are many challenges for start-ups in general and food start-ups in particular. Various support opportunities and resources are crucial to ensure the success of food start-ups. One aim of this study is to identify how the success of start-ups in the food system can be supported and further strengthened by actors in the innovation ecosystem in Germany. There is still room for improvement and collaboration toward a thriving innovation ecosystem. A successful innovation ecosystem is characterised by a well-organised, collaborative, and supportive environment with a vivid exchange between the members in the ecosystem. The interviewees confirmed this, and although the different actors are already cooperating, there is still room for improvement. The most common recommendation for improving cooperation is learning from other countries and bringing the best to Germany.

Trends and Prospects of Founding Start-Up-Unicorns

The article studies the most evident examples of fast growing business from start-ups to companies – unicorns, analyzes causes of their quick success and shows key trends of future start-ups. The authors identify trends of realizing business start-ups of future companies – unicorns, among which technological start-ups, fintech start-ups, start-ups in the field of transport, EdTech, medical start-ups, e-commerce. The authors review the most successful companies-unicorns of the new decade of the 21st century. They analyze different lines in business development from electronic on-line platforms for designing on-line games, education services, estimating the efficiency of ad campaigns and marketing analysis to production of grapheme nano-tubes with higher electro-conductivity and strength. The article identifies vectors of companies – unicorn evolution in view of demand for digital products (services, applications) on the part of internet- space market and information technologies, as well as needs of new technology and innovation market, where the major trend is development of unique materials (production). The role of entrepreneurship of new formation (for B2C market) is demonstrated in order to raise comfort, accessibility and ergonomic characteristics of products/services and at the same time to increase their basic functionality for convenience and relative simplicity for users. The article gives examples of home companies – unicorns that grew up from start-ups, whose capitalization exceeds $1bn. The authors study the most popular markets, where a considerable number of companies – unicorns are located and show statistics of successful start-ups of 2020–2021. Start-up trends and requirements to them aimed at attaining the status of successful company with high capitalization were characterized.

Corporate Social Responsibility Practices: A Strategy for Indian Startups to Sustain

The need for creating an environment for sustainable growth of startups for the well-being of an economy cannot be overemphasized. Many experts have proposed that corporate social responsibility (CSR) practices are integral to the long-term survival and success of startups (Jenkins, Confronting the challenges of participatory culture: Media education for the 21st century, 2009). At the same time, they also argue that it is very challenging for startups to adopt these practices effectively ( Salamzadeh, 2015 ). In this background, this is an empirical study of promoters of startups in a developing economy, India, to test the linkages between CSR practices and startup success. The study empirically examines the perception of the promoters regarding these linkages, studies the CSR practices adopted by them, and identifies the challenges faced by them in using CSR for sustainable growth. The findings of the study reveal that there is a distinct relationship between startup success (sustainability) and CSR activities. The article empirically proves that the sustainability of a startup is positively dependent upon internal, external, and environmental CSR initiatives. It also concludes that definite structural interventions are required by policymakers to achieve the twin objectives of startup success and societal well-being.

Industry 4.0 and the Circular Economy: Integration Opportunities Generated by Startups

Background: The purpose of this study is to analyze the adoption and implementation of technologies related to Industry 4.0 and the integration with circular economy (CE) to minimize the effects of resource scarcity in emergency situations. Method: The study was developed in two stages: The first consists of a systematic review of the literature for analytical categorization of the technologies of Industry 4.0 that can be useful for implementation in the circular economy. In the second step, empirical validation was carried out with 45 foodtech startups from the agribusiness value chain, farm to table, reuse, and waste management and disposal segments. Results: The contributions of the study show that: (i) The business models of startups in the food segment are closely aligned with the assumptions of circular economy. (ii) The technologies of industry 4.0 are supporting the implementation of circular economy in foodtech companies. (iii) Digitization, traceability, software as a service, traceability, digital solutions, and shared platforms occupy the leadership in the interface between CE and industry 4.0. (iv) Partnerships are strategic elements in the creation of innovative ecosystems for the success of foodtech startups. Conclusions: We conclude this paper with a diagnosis about companies involved in the foodtech segment in addition to the proposition of a business and sectorial agenda to consolidate the Industry 4.0 technologies in order to promote circular economy.

The dilemma of a Startup

Purpose: This research paper attempts to address the dilemma of when is the right time and the right skills that are important to start an architectural practice. This study is important to address this recurring question, which most architecture graduates face but cannot get answers to.
 Methodology: The research started with a literature review followed by semi-structured interviews and questionnaires to better understand the parameters and factors involved that can affect an individual’s decision. The data collection was done using a general as well as a targeted questionnaire and pilot interviews. The importance of these parameters and some of the essential skills and prerequisites for establishing a successful startup were identified, analyzed, and further substantiated with the learnings from the interviews.
 Main Findings: The research findings suggest that it is advisable for a graduate to ideally gain a work experience of three years to acquire the necessary skills that can aid them in successfully starting their own practice.
 Implication: For many architects, starting their own firm is a dream. Working for yourself on the projects you want to do, and the power to make your own creative decisions is a major driving factor that pushes architects to want to open their own firm. But it is important to understand whether this statement is true or not and whether a person effectively gets that much freedom in a startup? The paper tries to answer all these questions.

Start-up as an Environment to Promote Innovation Activities

The article summarizes the relevance and importance of activities in the field of start-ups as a source of modern innovative ideas. It is determined that a successful start-up requires a favourable environment both at the level of the start-up organization and at the level of its implementation. It is substantiated that in the conditions of low innovation activity start-ups can serve as a tool for intensification of innovation activity. Based on the results of the study, the directions of a favourable environment formation for the development of start-ups are proposed. At the macro level, the necessary changes are related to the formation of appropriate culture and regulatory activities, technical development, dissemination of experience and international practice, needs, desires and requirements of consumers, at the micro level — management technologies that create a favourable environment for the formation and implementation of start-ups. Modern organizational forms for attracting the investment resources into the innovative development of organizations and society as a whole on the basis of the allocation of start-ups, project activities and pilot projects are considered. The results of the introduction of start-ups in domestic practice are analysed and their characteristics are presented. Attention is drawn to the importance of considering of potential stakeholders who are interested in creating an innovative product within a start-up or other forms of investment, and create conditions that directly or indirectly affect the implementation of innovative ideas. The differences between start-ups, project management and pilot project are summarized and highlighted. It is substantiated that the implementation of pilot projects is appropriate in the conditions of approbation of the initiative, new concept or process or test for the organization. It is determined that the basis for both pilot projects and start-ups is the project management methodology. Examples of pilot projects for domestic oil and gas companies are considered. The key provisions for the implementation of a new concept of development or innovation in domestic enterprises through various forms of project activities are highlighted.

A COMPARATIVE STUDY ON HRM POLICIES AND PRACTICES IN NATIONALIZED AND PRIVATE SECTOR BANKS

A study of understanding the aspects which drive Information Technology services start-ups to effectively manage to start up, sustain and grow the business in India is explored in this study. After the initial 2 years of the venture formation, start-up saga continues to the growth stages and understanding the challenges of sustaining and growing the Information Technology Services start-up organizations in India, which has been a major contributor to Indian Exports and GDP growth has been the core research area of this study. The business challenges faced during initial set up years (0-2 years) may vary from business challenges faced during growth years (2-10 years). Research Objectives focus on studying initial years as well as growth years of the Information Technology Services start-ups to understand the similarities, differences in the attributes needed during various lifecycle stages of the organization. The qualitative study addresses understanding the characteristics of success factors in Information technology services start-up and the specific problem in the lack of understanding the various business challenges and reasons behind various aspects that leads to the success or failure of technology start-ups. Key words: Job satisfaction, achievement, training development, HRM an improved success rate for start-ups may help to attract investors, might retain existing jobs. Success Rate may attract many new entrepreneurs to come forward to build on their dream ideas into businesses and contribute more to economic growth through creation of jobs, sustenance of jobs with successful business growth and innovative solutions to the society at large domestically as well as globally. KEYWORDS: Management Challenges, IT Services Startups, Information Technology Services Startups, Start-up Initial Years, Start-up Growth Years, Success Factors

Grace announces successful start-up of two UNIPOL PP lines at Oriental Energy

Calcified coronary lesions present a unique challenge for patients undergoing percutaneous coronary interventions (PCI). A higher prevalence of calcific lesions is seen in men and older patients, while diabetes, chronic kidney disease, and tobacco use are significant risk factors. Calcific lesions have been associated with an increased risk of stent thrombosis, restenosis, and major adverse cardiac outcomes (MACE). Larger plaque burden and increased lesion complexity, such as bifurcation or chronic total occlusion, are commonly seen with calcific coronary lesions.Coronary calcifications lead to increased procedural complexity with difficulty in lesion preparation, balloon delivery and dilation, and stent delivery and expansion. Given the complexity, stent fracture, under expansion, or malapposition of stents lead to unfavorable outcomes such as thrombosis, myocardial infarction, or restenosis. A favorable result with stent implantation is predicted by final minimal stent area (MSA), larger stent areas lead to improved stent patency, achieved by appropriate modification of plaque morphology before stent implantation. Various interventions, such as specialty balloons and atherectomy, have been developed to overcome calcium burden and maximize MSA, thereby potentially improving PCI outcomes. In this chapter, we will focus on nonatherectomy (cutting, scoring, and lithotripsy) and atherectomy (rotational, orbital, and laser) strategies for calcific lesion modification before PCI.