Successful Start-up Research Articles

Unveiling the path to success: critical factors for success and failure of university startups

This study aims to identify the factors that influence the success and failure of university-incubated startups. A systematic review methodology based on the Methodi Ordinatio framework was employed. The research was conducted on the Science Direct, Scopus, and Web of Science databases, totaling 108 articles. After removing duplicates and articles unrelated to the theme, 43 studies remained. Applying the InOrdinatio equation refined the selection to 30 articles, reaching the saturation point of the research corpus. It was found that the maturity of innovation departments, entrepreneurial culture, intellectual property management, institutional adaptability, entrepreneurship-oriented education, gender equity, and governmental support are essential for the success of these startups. Conversely, the main challenges to failure include legal difficulties, the need to enhance educational and institutional support, restricted access to funding, the absence of mentoring networks, and the importance of aligning universities with the broader entrepreneurial ecosystem. It is concluded that the success of university-incubated startups results from a multifactorial set, essentially depending on an integrated innovative ecosystem, institutional and governmental support, and robust entrepreneurial training. At the same time, failure often reflects inadequate funding and mentorship.

Innovativeness and start-up performance: a configurational analysis of relational factors

PurposeThis study aims to explore which relational factors are crucial for accelerator-based start-ups to achieve high financial performance and whether innovation levels influence this relationship. Utilizing fsQCA and drawing from the resource-based view (RBV), we analyze 128 start-ups in a Spanish accelerator, split by innovativeness, to understand the impact of relational and human capital factors on performance.Design/methodology/approachThe study uses fuzzy-set qualitative comparative analysis (fsQCA) to investigate conditions leading to high financial performance among 128 start-ups in a Spanish accelerator, divided by innovativeness. Four key factors are analyzed: social capital, social competence, resource mobilization and entrepreneurial ecosystem support. fsQCA examines complex relationships between these factors and financial performance.FindingsRelational and human capital factors significantly impact start-up financial performance, varying with innovativeness. Highly innovative start-ups benefit from social competence and networked support, while less innovative but profitable start-ups rely on resource mobilization skills. The study highlights the contingent value of these factors, showing that unique configurations drive financial success.Research limitations/implicationsThe paper enhances the RBV in entrepreneurial contexts by highlighting the critical role of relational resources and their configurations. It suggests social competence and networked support are crucial for highly innovative start-ups, while resource mobilization is key for less innovative ones. These findings encourage nuanced theorizing of start-up success strategies, considering varying innovativeness levels and their impact on performance.Originality/valueThis study enhances understanding of the relationship between relational factors and financial performance in accelerator-based start-ups, considering innovation levels. It provides insights into how different configurations of social capital, competence, resource mobilization and ecosystem support lead to success. It underscores the importance of considering the contingent value of relational factors for start-up growth.

Mapping the early-stage AI startup success: A grounded theory approach to technology entrepreneurship leadership

Mapping the early-stage AI startup success: A grounded theory approach to technology entrepreneurship leadership

The Impact of Market Entry Registration Procedures on the Development of Start-ups in the Clean and Digital Energy Sector: Findings for Public Governance

The global energy sector is undergoing a transformative shift driven by the urgent need to transition to clean and digital energy solutions. Start-ups are at the forefront of this transformation, providing innovative technologies to tackle critical challenges in energy production, distribution, and consumption. This study explores the influence of market entry registration procedures and regulatory frameworks on the growth and success of start-ups in the clean and digital energy sectors, highlighting their role in driving global energy transitions. This research aims to understand how procedural complexity, regulatory quality, and associated costs impact entrepreneurial activity in clean and digital energy industries. Employing a comprehensive methodology based on panel data analysis, the study examines multi-country datasets from authoritative sources, such as the International Energy Agency and the World Bank, spanning two decades. Fixed and random effects models are utilized to reveal nuanced relationships between regulatory conditions and start-up proliferation. By identifying key barriers and enablers, the research provides actionable insights into fostering an environment conducive to innovation and entrepreneurship. The findings underscore several critical aspects of market entry dynamics. Streamlined registration procedures emerge as a pivotal factor in promoting start-up growth, reducing the administrative burden and enabling quicker market access. Conversely, high capital requirements and extended registration timelines act as significant deterrents, limiting the ability of new ventures to scale effectively. Regulatory quality is shown to play a crucial role in fostering an innovation-friendly environment, with higher-quality frameworks positively correlated with entrepreneurial success. Additionally, the study reveals the synergistic effects of entrepreneurial ecosystems, where broader business activity enhances opportunities for start-up development. These results highlight the dual nature of regulatory frameworks, which can either facilitate or hinder start-up activity. While effective regulations provide necessary oversight and ensure market stability, overly burdensome procedures can stifle innovation and deter market entry. Policymakers are urged to strike a balance by simplifying procedural requirements, reducing capital thresholds, and maintaining robust regulatory oversight to foster a thriving ecosystem for clean and digital energy start-ups. The study’s contribution is particularly timely, given the accelerating pace of global energy transitions and the increasing focus on achieving sustainability goals. The actionable insights offered here can guide policymakers and stakeholders in creating regulatory environments that catalyze innovation and entrepreneurship. By enabling start-ups to navigate market entry challenges effectively, governments can harness their potential to drive technological advancements and contribute meaningfully to a sustainable energy future. Future research directions include cross-country comparative analyses to identify best practices and longitudinal studies to examine the long-term impacts of regulatory optimization on entrepreneurial ecosystems. The findings of this study provide a foundation for ongoing efforts to align regulatory practices with the goals of a decarbonized and digitally integrated energy landscape, ensuring a resilient and inclusive energy transition.

The Dual Path to Start-up Success: The Impact of Business Model and Product Innovation in the Digital Economy

In todays era of digital technology, the success of start-ups is closely connected to their capacity to innovate. However, start-ups often focus heavily on product innovation while overlooking the significance of business model innovation. Additionally, many start-ups face challenges in turning these innovations into sustainable revenue streams. This thesis investigates the influence of business model innovation and product innovation on the overall business success of start-ups. By analyzing various case studies and empirical data, this research explores how business model innovation, involving changes in core competitiveness, delivery, and exploration mechanisms, can profoundly impact start-ups. The study mentions the strategic advantages of business model innovation, including its contributions to competitive advantage, scalability, and long-term profitability. Through a comparative analysis, this thesis underscores the importance of business model innovation in driving start-up success and inspires entrepreneurs and business strategists about the ways of suitable innovation insights. The findings contribute to clarify the distinct roles of two types of innovation in the digital economy and offer recommendations for start-ups seeking more dynamic performance.

Commodifying the microbial self: microbiome-based personalization and the quest for symbiotic singularity

Research on the human microbiome has highlighted human-microbe interdependence, thus heralding a fundamental epistemic shift from a modernistic human individuality towards homo-microbial symbioticism. This shift is largely afforded by machine-learning algorithms that have also led to the popularization and commodification of this new episteme. Startup companies have accordingly begun developing microbiome-based AI-powered products, offering consumers access to personalized insights from their allegedly unique homo-microbial identities. Based on the case study of a successful startup that offers to algorithmically leverage people’s microbial states for personalized nutrition, we ask: How do users of microbiome-based personalized services perceive the homo-microbial identity? How do they interpret the algorithmic systems involved in these services? And how do these two epistemes—microbial and algorithmic—inform their understanding of their body, self, and agency? We show that such technologies promise consumers a “symbiotic singularity”—a unique, incommensurable homo-microbial identity that affords highly personalized recommendations. Nevertheless, while consumers initially accept this identity, they eventually “scale back” to a more conventional, modernistic view of themselves as humans, questioning both microbiome science’s symbioticism and its AI-powered singularity. Our findings highlight the implications of the commodification of microbiome science, reflecting broader concerns about the ways in which post-human epistemes are being embraced, proliferated, and commodified through the emerging field of data-driven personalized medicine and health solutions.

Capitalist messiahs fighting small-mindedness: hegemonic startup masculinity in a semi-peripheral context

PurposeThe aim of this study is to explore the constructions of startup masculinity as a cultural ideal in the specific context of Hungary, a semi-peripheral country in Central and Eastern Europe. Drawing on Connell’s concept of hegemonic masculinity, the paper examines how the construction of startup masculinity, considered hegemonic in a given space and time, subordinates “others”.Design/methodology/approachThe study employs a critical discourse analysis of 143 media articles published in the Hungarian print and online Forbes magazine. It builds upon the concepts and theoretical models of hegemonic masculinity, entrepreneurial masculine identities, discursive identity construction and semi-peripherality.FindingsThe study highlights two key findings. Firstly, it reveals that the normative figure of the successful startup founder is not gender-neutral but discursively constructed as masculine, thereby excluding women. Secondly, it emphasises the hierarchical relationship between hegemonic startup masculinity and other masculinities rooted in the semi-peripheral, specifically Hungarian context, which are subordinated in the discourse. Thus, it discursively reproduces not only the hierarchical gendered relations in society, but the symbolical hierarchical relations between the core and the semi-periphery as well.Originality/valueBy examining hegemonic startup masculinity as a subordinating concept within a particular entrepreneurial and geographical context and by illuminating the significance of semi-peripheral locationality in hegemony construction, this paper contributes to both the understanding of masculinity in entrepreneurship literature and the decolonisation of masculinity studies.

Gender-responsive policies to support women start-ups to make a difference in the world

The 2019 Social Enterprise Promotion Act in Thailand represents a pivotal step towards promoting social enterprises by fostering self-reliance and a fair and sustainable future for the country. Despite their significance, there is a noticeable research gap focusing on the factors that motivate Thai entrepreneurs to venture into social entrepreneurship. This study seeks to fill that gap by analyzing data from 2000 respondents in Thailand, utilizing linear regression to explore whether the awareness of the United Nations Sustainable Development Goals (SDGs), the adoption of digital technologies, extrinsic motivations, such as the overall societal view of entrepreneurs, social awareness, and perceptions of entrepreneurial capabilities influence the decision to start a social enterprise. In a gender comparison, our findings reveal that the societal context plays a crucial role for both genders, although in distinct ways: Male entrepreneurs are more influenced by individualistic extrinsic values, with motivations linked to power, respect, and societal recognition. In contrast, female entrepreneurs display a collectivistic orientation, being more likely to be inspired by intrinsic motivations, such as the success and visibility of other successful startups within their society. These findings underline the need for a gender-sensitive approach by government bodies, educational institutions, and other relevant organizations aiming to boost start-up rates of enterprises who “make a difference in the world”. Tailored support and educational programs to address the unique motivations and perspectives of male and female entrepreneurs could play a crucial role in enhancing the effectiveness of strategies designed to promote social entrepreneurship in Thailand and beyond.

Influence of Financial Literacy, Budgetary Control, and Strategic Planning on Business Success of Startups in Indonesia

This study investigates the influence of financial literacy, budgetary control, and strategic planning on the business success of startups in Indonesia. Using a quantitative approach, data were collected from 150 startup founders through structured questionnaires, and multiple regression analysis was employed to assess the relationships between the variables. The results reveal that financial literacy, budgetary control, and strategic planning all have positive and significant impacts on business success, with strategic planning being the strongest predictor. The findings emphasize the critical role of financial management and strategic foresight in enhancing the growth and sustainability of startups. Practical implications include the need for increased financial education and support for strategic planning within the entrepreneurial ecosystem. Limitations and directions for future research are discussed

Startup success from the founder's perspective

AbstractSubjective entrepreneurial success has emerged as an area of academic interest. However, no research study has yet been conducted on startup founders as a specific group of entrepreneurs. Although ‘success’ has been prominently covered in existing startup literature, studies predominantly focus on the possible reasons behind startup success, measuring it solely in economic terms. Drawing upon the qualitative analysis of 22 in-depth interviews with Hungarian startup founders, this paper aims to explore the complex structure of subjective startup success from the founder's perspective along with its gendered patterns. The five dimensions of subjective startup success emerging from the data are similar to those of subjective entrepreneurial success: firm performance, team, personal fulfilment, community impact and personal financial reward. Nevertheless, results reveal that there exists considerable difference between the substance of firm performance dimension in the subjective entrepreneurial success model and in our subjective startup success model. Further, it is found that the interplay among indicators of success could range from synergies to tensions. Finally, personal fulfilment is found to be the only dimension that reflects a marked gender difference in the sample.

The Pathway to Startup Success: A Comprehensive Systematic Review of Critical Factors and the Future Research Agenda in Developed and Emerging Markets

Notwithstanding the benefits derived from successful startup firms in the contemporary entrepreneurial landscape, for many startup firms, the pathway to success is extremely challenging; unfortunately, the failure rate is globally high. The aim of this article is to review empirical contributions regarding startup firms and provide a comprehensive analysis of the factors influencing their success in developed and emerging markets. Following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, a systematic search was undertaken within the Web of Science database, encompassing studies published between 2004 and 2024, which were analyzed. The PRISMA framework is preferred because it stands out from other guidelines due to its transparent and complete reporting and evidence-based recommendations. This work also employed aggregate impact estimation to rank the relative importance of each success factor regarding the success of startups. This article offers a comprehensive analysis of 24 success factors extracted from a systematic review of 48 empirical studies conducted on the subject. We prioritized each success factor according to their relative impact on the success of startup firms. These were classified as personal (entrepreneurial vision and leadership, adaptability, networking), organizational (team building, financial and resource management, innovation, strategy and marketing) and environmental factors (government support and dynamism of political, economic and cultural environment). The findings underscore the importance of a holistic approach that considers both internal and external factors in fostering startup success. However, it is essential to acknowledge that not all factors exert comparable effects on success; certain factors wield a substantial influence, whereas others demonstrate a significant yet lesser impact. Several conclusions and implications for startup founders, government policymakers and startup firm researchers are derived.

From ego to equity: exploring the influence of narcissism and gender on start-up funding success

Purpose This study aims to investigate the association between narcissistic tendencies, gender and funding success in high-growth start-ups. It aims to bridge a critical research gap by exploring the combined effect of gender and narcissism on start-up funding success. Design/methodology/approach The authors surveyed 540 founders of high-growth start-ups in Germany, Austria and Switzerland, using the NPI-16 questionnaire to assess narcissistic tendencies. By focusing on high-growth start-ups as opposed to small firms, the authors enhanced the validity of the sample. This study isolates and analyses the effects of gender and narcissism, providing insights into their individual and combined contributions to start-up funding success. Findings The findings reveal that gender is associated with lower start-up funding and lower narcissistic tendencies. This highlights the intricate relationship between gender, narcissism and funding success within the context of high-growth start-ups. Practical implications These findings have important implications for investors, policymakers and entrepreneurial educators, suggesting that a nuanced understanding of founders’ psychological traits could enhance funding strategies and start-up support mechanisms. Originality/value This research addresses the critical gap in the literature by examining the joint influence of gender and narcissism on funding success in high-growth start-ups. The study contributes to a nuanced understanding of the factors shaping founder psychology and performance dynamics, offering valuable insights for future research in gender, narcissism and start-up success.

Виклики стартапів та шляхи їх подолання

This article analyzes the key factors influencing and challenges faced by startup enterprises at various stages of their development. Among the most significant obstacles are financial difficulties, mismatch between products and market demands, market competition, team incompetence in selecting optimal business models, regulatory challenges, pricing issues, and establishing interdisciplinary skilled teams. According to statistics, only 34% of startups successfully acquire necessary funds, while 62% struggle to secure financial support. Furthermore, only 0.00006% of startups achieve "unicorn" status. Understanding market needs for innovative products or services is a critical aspect of a startup's business plan. The insufficient knowledge is also a major factor significantly affecting startup firm development. A superior product or idea does not guarantee unquestionable startup success. Often, cofounders of startups lack management skills, market experience, and knowledge, underscoring the importance of utilizing advice from mentors. According to statistics, 33% of founders of technology companies who benefited from mentorship by successful entrepreneurs become industry leaders. Market competition is also a challenge for startup growth. According to statistics, 20% of startups fail due to being suppressed or outpaced by competitors. Bridging the experience and competence gap among startup entrepreneurs can be achieved through young firms entering into strategic partnerships. Collaboration can take various forms, from joint marketing initiatives and cross-promotions to establishing joint ventures and strategic alliances. A key aspect is finding partners who not only complement the individual business but also align with the values of a specific brand, creating mutually beneficial and long-term relationships. The article explores solutions to startup initiation and development problems in financing, marketing, and business model formation. It presents examples of tools that assist startups in conducting research on target audiences, product promotion, strategy analysis, and key performance indicators effectively. Additionally, it highlights the relevance of the topic and the necessity for further research in this direction. The article provides information that will be useful for entrepreneurs working in the startup industry and venture business, as well as for researchers interested in this subject matter. Its conclusions and recommendations can help understand key aspects of startup development and mitigate failure risks.

The rise of EdTech: Transforming education through entrepreneurial ventures

This paper examines the rise of educational technology (EdTech) through the lens of entrepreneurial ventures and assesses its impact on the educational sector. It describes how entrepreneurial startups have driven EdTech innovation by identifying gaps in traditional education models and developing technology-based solutions. Three theoretical frameworks — the theory of disruptive innovation, the technology acceptance model and the transformative learning theory — are applied to understand how EdTech innovations disrupt markets and influence user adoption. The evolution of EdTech is explored, from early developments such as online learning platforms and adaptive learning technologies to the accelerated integration of digital tools post-COVID-19. Illustrative examples of successful startups like Coursera, Khan Academy and Duolingo demonstrate how entrepreneurial ventures have democratised access to education. The paper also analyses how EdTech transforms teaching methodologies, enhances student engagement and enables personalised learning through data analytics. The application of EdTech across K-12, higher education and vocational settings is discussed. While beneficial, equitable implementation remains a challenge. The social and ethical implications of data privacy, algorithmic bias and the digital divide are also examined.

Entrepreneurial ecosystems and start-up success in the tech industry in Silicon Valley

This study aims to identify the determinants of start-up success in Silicon Valley, with the objective of offering practical recommendations and informing policy decisions that can facilitate the development of prosperous technology ecosystems in other regions. The study provides significant and informative perspectives for entrepreneurs, policymakers, and other relevant stakeholders in different locations who are seeking to emulate certain elements of Silicon Valley's achievements. This research employs a mixed-method study strategy that integrates both qualitative and quantitative methodologies. This architecture is well-suited for extensively investigating the complex nature of entrepreneurial ecosystems, the interplay of many elements, and the impact on start-up success. The sustained achievement of Silicon Valley can be ascribed to a confluence of elements, encompassing the availability of venture capital, mentorship networks, esteemed academic institutions, a risk-embracing and innovative culture, and a tightly-knit social network that fosters collaborative endeavors. These research findings highlight the crucial significance that these elements hold in establishing Silicon Valley as a prominent global technology cluster. The demonstration of alignment with theoretical models serves to illustrate the practicality of pre-existing frameworks, yet the unique characteristics of the region emphasize the significance of acknowledging the specific context and culture in the analysis of ecosystems.

The Impact of Business Incubation Programmes on Start-up Success and Economic Growth in Indonesia

The Impact of Business Incubation Programmes on Start-up Success and Economic Growth in Indonesia

Factors that Affect the Success of Pre-seed Level Startups

The success of pre-seed level startups is influenced by a complex interplay of factors spanning business strategy, team dynamics, market conditions, and access to resources. At this nascent stage, startups face unique challenges, including validating their business model, securing initial funding, and establishing a competitive edge. Key determinants include the founders’ expertise and vision, the scalability of the product or service, the clarity of the value proposition, and adaptability to changing market demands. The startup’s ability to leverage mentorship, build strong networks, and navigate the investor landscape also plays a critical role. This research examines these factors, emphasizing the importance of robust market research, efficient use of limited resources, and strategic planning. Furthermore, the psychological resilience of founders and the alignment of the team with the startup’s mission are explored as integral to overcoming early-stage obstacles. By synthesizing insights from case studies and empirical analyses, this study provides actionable recommendations for aspiring entrepreneurs to maximize their chances of success in the highly competitive pre-seed environment.

The impact of dynamic marketing capabilities (DMCs) and strategic information management (SIM) on international start-up success: A meta narrative analysis

The success of international startups is profoundly influenced by their adeptness in utilizing dynamic marketing capabilities (DMCs) and strategic information management (SIM) to achieve competitive advantage and sustainable growth in global markets. This research examines the effects of these crucial elements on the success of international startups through a meta-narrative analysis. By synthesizing findings from 20 articles published in Scopus-indexed journals between 2020 and 2024, we aim to provide an in-depth understanding of the interaction between DMCs and SIM and their impact on startup performance in global markets. The research design includes an extensive review and synthesis of the literature on DMCs and SIM, emphasizing their importance in improving startup agility, market responsiveness, and strategic decision-making. Our findings suggest that startups are proficient in DMCs, such as adaptive market orientation and innovative marketing strategies, alongside robust information management systems, demonstrating higher success rates, accelerated growth, and a sustained competitive advantage in international markets. These insights highlight the pivotal role of integrating marketing dynamism with SIM for startup success. The global implications of this study suggest that international startups must prioritize the development of these capabilities to navigate the complexities of global markets effectively and ensure long-term viability. This research underscores the critical importance of strategic investments in marketing and information management to foster startup success globally.

What is success? – Concepts and perspectives in the Hungarian startup context

Despite the prominent academic interest in the existing startup literature, neither the founders’ perspectives on success nor its media representation have received adequate investigation. This paper presents an exploratory comparative analysis of startup success in Hungary from the founders’ perspectives and its media representation, based on a media content analysis of Forbes articles (n=128) and qualitative interviews with startup founders (n=22). The results showed that strong state dominance and less careful project selection resulted in divergent narratives in the media and in the interviews with founders. In Forbes, capital attraction was found to be the key indicator of success, with real performance validated mainly by international investors, which also reinforced the construction of startup culture as a global form. In contrast, the perception of capital attraction was more ambiguous among the founders, for whom real performance was often justified by the market rather than the investor.

Optimizing shutdown and startup procedures in oil facilities: A strategic review of industry best practices

Shutdown and startup procedures in oil facilities are critical processes that significantly impact operational efficiency, safety, and environmental compliance. This strategic review examines industry best practices for optimizing these procedures to minimize downtime and enhance productivity. Effective shutdown and startup operations are essential not only for maintaining equipment integrity but also for ensuring the safety of personnel and compliance with regulatory standards. The complexities of oil facility operations necessitate a thorough understanding of the interdependencies between various systems and processes during these phases. This review identifies key factors that contribute to successful shutdown and startup procedures. First, comprehensive planning and preparation are vital. Establishing a detailed shutdown/startup plan that outlines specific tasks, timelines, and responsibilities helps mitigate risks associated with unplanned events. This includes conducting risk assessments and ensuring that all personnel are adequately trained to execute their roles effectively. Second, the implementation of advanced monitoring and control technologies is crucial. Utilizing automation and real-time data analytics allows for precise control over processes during shutdowns and startups, enabling quicker responses to anomalies. This technological integration can significantly reduce the time required for these operations while enhancing safety measures. Third, collaboration and communication among teams are essential components of successful operations. Encouraging a culture of open communication fosters teamwork and ensures that all stakeholders are aligned throughout the shutdown and startup phases. Regular debriefings and feedback sessions post-operations also play a vital role in continuous improvement. In conclusion, optimizing shutdown and startup procedures in oil facilities is paramount for enhancing operational efficiency and safety. By adopting industry best practices, including thorough planning, leveraging technology, and promoting effective communication, organizations can achieve significant improvements in their operational performance. This review serves as a resource for industry stakeholders aiming to refine their shutdown and startup strategies to achieve operational excellence. Keywords: Shutdown Procedures, Startup Procedures, Oil Facilities, Operational Efficiency, Safety, Environmental Compliance, Risk Assessment, Automation, Real-Time Data Analytics, Industry Best Practices.