Successful Start-up Research Articles

Exploring Determinants of the Early Success of Tourism Start-ups

Purpose – The purpose of this study is to examine factors that determine the initial success of tourism start-ups. For empirical analysis, a questionnaire related to the analysis of success factors for start-up success was designed according to AHP analysis. Design/Methodology/Approach – First, based on the ERIS model, we establish four top factors, Entrepreneur, Resource, Industry, and Strategy, and derive subfactors belonging to each top factor through expert surveys. Later, we conducted an AHP analysis on 21 experts to derive the relative importance between factors belonging to the same hierarchy. Findings – As a result, an analysis using AHP found that the relative importance of each of the second hierarchy parent factors was the most critical success factor, starting with “Strategy” (0.385), followed by “Entrepreneur” (0.276), “Resource” (0.198), and “Industry” (0.141). This study identifies the factors affecting the initial success of tourism start-ups and derive the relative importance between each factor from the AHP analysis to present implications Research Implications – In this paper has significance in identified the factors that influence the early success of tourism start-ups and presented implications by deriving the relative importance between each factor through AHP analysis, which will also provide reference for other scholars' follow-up research and contribute to derive the tourism start-up support policy.

Factors of startups success: to do not fail, what should startups do?

With the technological development, the appearance of the fourth technological revolution, digitalization in all sectors, and integration of artificial intelligence in different sectors. Startups appear in different sectors with the aim of growing fast and resolving the actual problems in addition to following the fast-technological development. Therefore, startups have an important role in the economies of developed counties because there plays an important role in generating new and innovative ideas with the aim of developing technological tools, innovative solutions to problems, and generating a wealth of economies. Following the complex environment, some startups face different obstacles and fail, however other succeed. In this paper, we try to present a theoretical overview of startups, their points of weakness, and what are the main factors of the success of a startup.

Theoretical and experimental investigations on the supercritical startup of a cryogenic axially Ω-shaped grooved heat pipe

The successful supercritical startup of a cryogenic grooved heat pipe is the premise for its normal operation, and the startup time determines the working efficiency of the payload. Based on this demand, a supercritical startup model of grooved heat pipe is established in the paper. The model applies more practical boundary conditions of the condensation section, without the need of knowing the temperature change of condenser in advance. With known performance curve of the cryocooler, the startup performance of heat pipe can be predicted, including the temperature distribution, startup time, etc. The predicted results by the model showed good agreement with the startup experiment results of the cryogenic grooved heat pipe. Additionally, the effects of different condenser lengths and structural parameters on the startup of heat pipe were analyzed by using the model. The results show that longer condenser length, larger groove diameter can accelerate the flow rate of condensate and the startup process. The influence of the groove depth to width of an Ω-shaped grooved heat pipe and a trapezoidal grooved heat pipe was also compared. This model provides a theoretical basis for the design and optimization of cryogenic grooved heat pipe.

Understanding and motivating student feedback seeking: Insights from a lean startup based entrepreneurship program

Understanding and motivating students' feedback seeking behavior is essential for the success of lean startup based entrepreneurship programs. Therefore, in this study, we investigated how cost-value perceptions and student social capital influence feedback seeking behavior and entrepreneurial self-efficacy as the outcome. Longitudinal data were collected from 289 Dutch students who completed a questionnaire at the beginning, middle, and end of an experiential entrepreneurship program that employed the lean startup method. Results showed that students who valued the feedback and perceived supportive student-student relationships sought feedback more frequently, which subsequently, increased entrepreneurial self-efficacy. Neither perceived costs of feedback seeking, such as the risk of feeling embarrassed and investment of time and energy, nor supportive teacher-student relationships related to feedback seeking frequency. We expected that students' relationships with teachers and peers would moderate the relationship between perceived feedback seeking cost and feedback seeking frequency. Results confirmed that cost of feedback seeking only negatively related to feedback seeking frequency when students perceived poor student-student relationships. The findings contribute to a better understanding of student feedback seeking and effective lean startup based experiential programs.

Mathematical simulation and experimental verification of a novel control strategy for a single stage PN/A (partial nitrification/Anammox) SBR (sequencing batch reactor)

The single reactor PN-A process offers a cost-effective solution for nitrogen removal. The successful startup and operation of the PN/A reactor requires the enrichment and balanced growth of AOB (Ammonium oxidizing bacteria) and AMX (AMAMMOX bacteria). The precise aeration supply or DO (dissolved oxygen) control was regarded to be the key for successful operation of the PN/A reactor. However, due to the low DO concentration requirement for the PN/A reactor, it is not practical to apply the precise aeration or DO concentration control. In this study, a new control strategy for the rapid startup and operation of the single stage PN/A (partial nitrification) SBR (sequencing batch reactor) was put forward. The control strategy relies on the periodic measurement of effluent NH4+, NO2-, and NO3- concentration to determine the nitrogen loading rate and aeration pump speed (i.e., not exact air supply volume). It does not require precise oxygen supply or DO (dissolved oxygen) control. This feature makes the control strategy easily applicable for practical application. A calibrated mathematical model was used to evaluate the control strategy, which was shown to be effective in achieving satisfactory nitrogen removal and NOB suppression. The control strategy was tested in a lab PN/A batch reactor, in which TN removal efficiency of 80% was achieved under low influent NH4+ concentration of 100 mg N/L and nitrogen loading rate of 0.12 Kg N/(m3•d) within 60 days of the experiment.

The relationship between management control systems and innovativeness in start-ups: evidence for product, business model, and ambidextrous innovation

PurposeThis paper aims to analyze the relationship between the use of management control systems (MCSs) and innovativeness in start-ups pursuing product innovation (PI), business model innovation (BMI) or ambidextrous innovation (both PI and BMI ).Design/methodology/approachThis paper reports on survey data collected at 143 European start-ups using a structured questionnaire sent to a member of the top management team at each firm.FindingsThe authors find that the control levers and their interdependencies associated with increased innovativeness significantly differ between the different forms of innovation.Practical implicationsThe study provides important guidance for entrepreneurs so that they can effectively support their innovation agenda with the MCSs tailored to their needs.Originality/valueThis research contributes to a growing literature that shows the positive role of MCSs in innovative and entrepreneurial processes. It adds to the understanding of the multifaceted nature of innovation and the crucial importance of BMI and ambidextrous innovation for the success of start-ups.

Higher education’s influence on social networks and entrepreneurship in Brazil

Developing and middle-income countries increasingly emphasize higher education and entrepreneurship in their long-term development strategy. Thus, our work focuses on the influence of higher education institutions (HEIs) on startup ecosystems in Brazil, an emerging economy. As traditional data to perform this type of study, such as surveys, are challenging to get, we propose an alternative approach. Given the growing capability of social media databases such as Crunchbase and LinkedIn to provide startup and individual-level data, we draw on computational methods to mine data for social network analysis. Our approach enables different types of analysis. First, we describe regional variability in entrepreneurial network characteristics. Second, we examine the influence of elite HEIs in economic hubs on entrepreneur networks. Third, we investigate the influence of the academic trajectories of startup founders, including their courses of study and HEIs of origin, on the fundraising capacity of startups. We find that HEI quality and the maturity of the ecosystem influence startup success. We also observe that elite HEIs have a powerful influence on local entrepreneur ecosystems. Surprisingly, while the most nationally prestigious HEIs in the South and Southeast have the longest geographical reach, their network influence remains local. This means that investments in entrepreneurship, in the Brazilian context, tend to remain concentrated in wealthier cities, and may actually reinforce or increase regional inequalities. We also find that the startup ecosystem in the wealthier South and Southeast is more diverse in terms of sectors, which is more advantageous to economic development. Our approach can be helpful, especially in countries with limited studies of the interaction between startups and institutional factors supporting them. In terms of policy recommendations, we would recommend more investment at the regional level in terms of cultivating entrepreneurship, given the limited spillover from wealthier regions.

The Conference Interpreter Trainee: A Successful Start-up?

In 2010, Chris Durban and Eugene Seidel published the volume The Prosperous Translator: Advice from Fire Ant and Worker Bee. Doubtless, since translation is at least partly akin to conference interpreting, one might think that the interpreter should also be able to lead a prosperous life. But the reality around us shows that not everyone succeeds in their professional life. Starting from the idea that a company’s recipe for success could be applied to the training process of a successful interpreter, in this article we aim to examine to what extent the skills of the conference interpreting master could be strengthened, sharpened and expanded if the personal as well as the teaching approach followed the entrepreneurial model of success and how much effectiveness and efficiency matters in the training process. To this effect, we consider here in parallel conference interpreting pedagogy and proven marketing techniques.

Sustainable Development Prediction of Start-ups in Ukraine

The purpose of the article is to confirm the success of start-ups in Ukraine, which will be achieved through a trend analysis of the integral indicator of the success of start-ups in Ukraine using polynomial forecasting of the 4th degree. The research methodology is based on the analysis and collection of data on indicators of the effective existence of the macro and microenvironment in Ukraine, an index analysis of the most significant indicators characterizing the prospects and efficiency of start-ups, trend analysis. Empirical data allowed to formulate a hypothesis: that there is a theoretical and methodological ability of the integral indicator of the success of start-ups in Ukraine to ensure the relevant trends in their sustainable development. The specific features and stages of development of start-ups were analyzed in the article. The study notes recommendations for creating an effective start-up and its financing. The procedures for collecting, analyzing, and processing information made it possible to build a trend line and forecast an integrated indicator of sustainable development of start-up success in Ukraine.

Recent progress of the ECRH system and initial experimental results on the J-TEXT tokamak

In order to broaden the range of the plasma parameters and provide experimental conditions for physical research into high-performance plasma, the development of the electron cyclotron resonance heating (ECRH) system for the J-TEXT tokamak was initiated in 2017. For the first stage, the ECRH system operated successfully with one 105 GHz/500 kW/1 s gyrotron in 2019. More than 400 kW electron cyclotron (EC) wave power has been injected into the plasma successfully, raising the core electron temperature to 1.5 keV. In 2022, another 105 GHz/500 kW/1 s gyrotron completed commissioning tests which signifies that the ECRH system could generate an EC wave power of 1 MW in total. Under the support of the ECRH system, various physical experiments have been carried out on J-TEXT. The electron thermal transport in ECRH plasmas has been investigated. When ECRH is turned on, the electron thermal diffusivity significantly increases. The runaway current is elevated when a disruption occurs during ECRH heating. When the injected EC wave power is 400 kW, the conversion efficiency of runaway current increases from 35% to 75%. Fast electron behavior is observed in electron cyclotron current drive (ECCD) plasma by the fast electron bremsstrahlung diagnostic (FEB). The increase in the FEB intensity implies that ECCD could generate fast electrons. A successful startup with a 200 kW ECW is achieved. With the upgrade of the ECRH system, the J-TEXT operational range could be expanded and further relevant research could be conducted.

Geographical and sectoral overview of the most valuable start-ups

Our research aimed to identify the causes for the increase in the number of unicorn start-ups by analyzing the geographical and sectoral factors in two main online databases. The United States, with a traditionally strong innovation ecosystem, is leading the way in creating successful start-ups, but China, India and some European countries are also showing considerable results. The number of unicorns, referring to privately held start-ups worth more than $1 billion, is significantly influenced by qualitative factors (ecosystem development) and the size of the economy (nominal GDP). Therefore, small economies (like Israel) can only be included in the top 10 unicorn countries if their ecosystem is especially developed. The global pandemic has accelerated the digital transformation in several sectors. Fintech, e-commerce, internet, software and AI services are areas where unicorns have been able to achieve significant value growth. Introducing the attributes of these start-ups can be an inspiration for students in economics courses and can serve as illustrative examples in the related curricula.

Determination of Success Criteria for Agricultural Social Startups in Indonesia

It is difficult for social startups to select the most relevant key performance indicators (KPIs) because it is difficult to find a shared impact language to code, classify, and interpret the impact. This study aims to determine key impact performance indicators for assessing success in agricultural social startups in Indonesia. We applied multi-case studies approach to four leading Indonesian agricultural social startups. In total, eight experts consisting of co-founders, human resources managers, and managing partners on each social startup have been asked to assess the importance of success criteria and the performance of the corresponding company in fulfilling the requirements. The analytical hierarchy process (AHP) was applied to determine the relative importance of impact themes and strategic goals. The AHP results showed that smallholder agriculture is the most critical impact theme to achieve as success criteria. Five of the 12 strategic goals with the highest priority were explained as candidates of KPIs: the financial health of farmers, better and stable pricing, social equity and justice, farm profitability, and food availability and diversity. The KPIs developed in this study are anticipated to be utilized by stakeholders involved in the agricultural social startup ecosystems, including practitioners, impact investors, and policy-makers. Keywords: social entrepreneurship, social impact, social performance, impact assessment, and evaluation

Characteristic Analysis on Temporal Evolution of Granulation in a Modified Anaerobic Digestion System

In the present study, the surface morphology, particle size distribution, sedimentation performance, and fractal characteristics of sludge flocs in a modified anaerobic baffled reactor (mABR) during start-up were analyzed by digital image analysis technology. The results showed that the special structure of mABR enabled successful start-up and granular sludge formation in a relatively short time. After the granular sludge was mature, the COD removal rate could quickly recover to the level before the change in organic loading rates (OLRs) within just six days, increasing from the lowest value of 76.8% to 80.2%, which indicated that the granular sludge could maintain a relatively stable micro-environment and make the metabolic process continue when the influent conditions changed suddenly. It was expected that this paper would be helpful for researchers to further develop a unified theory for anaerobic granulation and technology for expediting the formation of mABR granules.

A new structure for line-start non-slotted axial-flux permanent magnet motor, proposing a novel 3D FEA-based demagnetization reduction approach

PurposeThis paper aims to propose a novel simple and efficient structure for line-start axial-flux permanent magnet (LSAFPM) synchronous motor, especially regarding the permanent magnets (PMs) demagnetization reduction.Design/methodology/approachAt first, a primitive raw scheme of the new structure for the LSAFPM motor is introduced. Considering this raw scheme, the levels of irreversible demagnetization in various regions throughout the entire volume of each PM are evaluated using 3 dimensional (3D) finite elements analysis (3D FEA) in full loading condition during startup until reaching steady state. Based on the results of these analyses, the primitive structural scheme is then modified through segmenting (cutting into four pieces) each PM from where the worst irreversible demagnetization levels occurred.FindingsAs will be demonstrated by the results of 3D FEA, the proposed modified structure is not only capable of successful startup and synchronization of the motor but also it considerably reduces the PM demagnetization level. Thus, the performance of the motor is significantly improved.Originality/valueThe demagnetization of PMs is an important effect in PM synchronous motors, which can greatly affect motor performance. Therefore, it is necessary to be considered in the motor design processes. This effect becomes much more significant in the line-start PM motors because the usual high-magnitude startup induction current produces a strong armature-reaction magnetic field, which may cause the PMs to be irreversibly demagnetized. The approach proposed in this paper provides a structural solution to mitigate the PM demagnetization effect and thereby improve the performance of an LSAFPM motor through modifying the structure of the LSAFPM motor according to an FEA-based PM demagnetization analysis. As a considerable contribution, in this analysis, the variation of demagnetization level between different areas inside each PM is computed and is considered as a basis for proposing an appropriate structural modification to mitigate the PM demagnetization effect as much as possible.

Start-up stúdió: üzleti modell innováció(Az INNONIC Zrt. példája)

Public discourse mostly uses the term start-up as a simplified collective category to describe companies founded to sell technological innovations. At the same time, in addition to bringing a new or novel idea to market, most business functions (marketing, sales, product/service development, HR etc.) are performed in an innovative and proactive way. In spite of the uncertainty of the market and limited resources, one of the key characteristics of such organisations is the high potential of the rapid economic development. In order to be able to take the advantage of the business opportunity, a supportive socio-economic and institutional environment is essential to obtain intensive growth and sustainability. In our case study, we are aiming to illustrate the importance of so-called start-up studios in catalysing innovation by the example of a company operating in international markets in the Debrecen region. Illustrating our findings by an analogy, we examine how the studio as a “mother ship” uses organizationalmanagement methods, cultural patterns, and through what mechanisms it contributes to the success of start-ups.

Study of the Effect of Throttling on the Success of Starting a Line-Start Permanent Magnet Motor Driving a Centrifugal Fan

Direct-on-line synchronous motors are a good alternative to induction motors in fluid machinery drives due to their greater energy efficiency but have the significant disadvantage of limiting the maximum moment of inertia of the loading mechanism to ensure their successful and reliable start-up. This disadvantage is critical in centrifugal fans with a massive steel impeller. In this article, using a mathematical model, the dynamics of starting and synchronizing a permanent magnet synchronous motor fed directly from the mains as part of a fan drive are studied. The simulation results show the possibility of increasing the maximum moment of inertia of the load at the successful start-up of a direct-on-line synchronous motor by adjusting the hydraulic part of the fan pipeline by means of throttling. The conclusions of this paper can be used when selecting an electric motor to drive industrial fans and can contribute to wider use of energy-efficient synchronous motors with direct start-up from the mains.

Understanding Startup Valuation and its Impact on Startup Ecosystem

Abstract Startups play a substantial role in the economic growth of a nation, by introducing new technologies, ground-breaking innovation, creating jobs, etc. A couple of decades back, it was extremely difficult to start a business, but today new businesses pop up every day, all around the world. Recognizing the importance of a startup, governments across the globe are doing their best to provide an atmosphere where startups can bloom. Despite its importance and all the support, the startup failure rate is at 90%; about 10% of startups fail in the first year and 70% fail in two to five years. The startup boom saw the emergence of alternative sources of funding like Venture Capitalist, Angel Investors, etc. These investors (Venture Capitalist, Angel Investors, etc.) played a crucial role in startup success by providing easy access to funds which is a critical and scarce resource for any founder. Traditionally business success is linked with sustainable profitability but in the startup world most used method to define success is valuation. Based on CB Insights research, as of January 2022, there are more than 900 unicorns (startup with a valuation of over $1 billion) around the world and of these unicorns less than 10% are profitable. It’s difficult to explain/comprehend how startups’ which are neither profitable nor foresee profitability in near future are valued higher than traditional business with stable profitability. Current valuation methods have impacted the startup ecosystem. Today, founders start their business with exit in mind, the focus of founders is on growth/scale rather than profitability. There is a school of thought that believes that such valuations will soon result in the bursting of the startup bubble just like the dotcom bubble seen in late 1990s. The focus of this paper is to investigate the techniques used by investors for startup valuation and how these techniques are impacting the startup ecosystem and its founders. The paper looks at all stages of the investment cycle, from seed to IPO or takeover and understands the process of valuation at each stage and how it impacts all stakeholders in the ecosystem.

Early-Stage vs. Growth-Stage Startups: Examining the Differences in the Perception of Factors Instrumental to Success

A stream of research available in the literature focuses on startup success factors, although there is a lack of consensus in determining what these factors are. In general, there are two critical groups of success factors, organizational and entrepreneurial, both considered to be integral parts of internal startup environment. Since the perception of early-stage (incubation stage) and growth stage (post incubation stage) startup entrepreneurs differ significantly they tend to perceive important success factors distinctively. As a result, attributes of success differ considerably. This paper aims at capturing internal startup environment as it is considered to be crucial in shaping startup’s success in contrast to external environment that is more remote and (usually) not manageable.
 Primary data were collected using an online survey questionnaire and quantitative approach was used; data were analysed using descriptive statistics and Mann-Whitney U test. The final research sample consisted of 70 startups and the findings indicate that the perception of internal environment and its contribution to overall success differs significantly from the perspective of early-stage and growth stage startup entrepreneurs. Out of analysed internal factors, statistically significant differences were identified for prior experience in starting the company and self-confidence (individual’s/entrepreneur’s category factors) and internal startup organization and team-level competencies (organizational category factors).
 The contribution of this research is evident in identifying important internal factors that determine startup’s success (that aspiring startup founders can benefit from) and providing an insight into the startup community in Croatia, thus contributing to a scarce empirical literature on the topic available. Limitations of the research include sample size and subjective assessment of the success factors, so recommendations for future research include repeating the research on a larger sample, covering the international level and widening a set of key-performance indicators that can be assessed at a higher level of rigour with objective metrics.

Metal-Hydride-Based Hydrogen Storage as Potential Heat Source for the Cold Start of PEM FC in Hydrogen-Powered Coaches: A Comparative Study of Various Materials and Thermal Management Techniques

The successful and fast start-up of proton exchange membrane fuel cells (PEMFCs) at subfreezing temperatures (cold start) is very important for the use of PEMFCs as energy sources for automotive applications. The effective thermal management of PEMFCs is of major importance. When hydrogen is stored in hydride-forming intermetallics, significant amounts of heat are released due to the exothermic nature of the reaction. This excess of heat can potentially be used for PEMFC thermal management and to accelerate the cold start. In the current work, this possibility is extensively studied. Three hydride-forming intermetallics are introduced and their hydrogenation behavior is evaluated. In addition, five thermal management scenarios of the metal hydride beds are studied in order to enhance the kinetics of the hydrogenation. The optimum combination of the intermetallic, hydrogenation behavior, weight and complexity of the thermal management system was chosen for the study of thermal coupling with the PEMFCs. A 1D GT-SUITE model was built to stimulate the thermal coupling of a 100 kW fuel cell stack with the metal hydride. The results show that the use of the heat from the metal hydride system was able to reduce the cold start by up to 8.2%.

Determination of Critical Factors for Success in Business Incubators and Startups in East Java

The reference to the success factors of incubators and startups in running their business so far has been ambiguous. The purpose of this study is to analyze the critical factors that can affect the success of incubators and startups. The quantitative research method describes the research results. The study locus is in East Java Province, Indonesia with primary data from respondents in five regions: Banyuwangi, Jember, Madiun, Malang, and Surabaya. The number of respondents was 41 from incubators and 59 from startups with identification of domicile, type of business, and business turnover. Data was collected using surveys and interviews with 100 respondents. The analysis in this study uses eleven factors that are assumed to be factors of business success that have been tested with Kaiser Meyer Olkin Measure (KMO), Measure of Sampling Adequacy (MSA), Bartlett’s test, and Cronbach Alpha. The critical point used for the KMO value is between 0.5 and 1, the MSA test critical point is 0.5, Bartlett’s test is less than the significance level (α = 0.05), and α cronbach ≥ 0.60. The analyzed factors are as follows: synergy products; processes; innovation management; communication; culture; experience; information technology; innovation skills; functional skills; and implementation skills. As a result, incubators and startups agree on eleven critical factors to building their business success, but there are differences in the priority scale between incubators and startups on these eleven factors.