A Comparative Analysis of Startup Success Factors and Failure Causes: An Empirical Investigation

Abstract

This empirical investigation delves into the complex dynamics of startup success and failure, aiming to provide a comprehensive understanding of the underlying factors. Startups, as nascent companies, are established by entrepreneurs who merge resources and innovative business concepts. The study underscores the pivotal role played by innovation and adequate funding in shaping the destiny of startups. Notably, it sheds light on the significance of technology-based startups in fostering economic growth and employment opportunities, bolstered by government support and policies. To comprehensively assess startup risks, the research explores three key strategies: analyzing founder traits and their impact on business success, evaluating early-stage decision-making and its influence on organizational composition and performance, and examining external factors like market volatility and availability of venture capital. Additionally, the study emphasizes the criticality of open innovation and collaborative teamwork in propelling the success of technology-based startups. By unraveling the unique challenges and opportunities faced by startups, this investigation aims to contribute valuable insights for entrepreneurs, policymakers, and stakeholders involved in fostering startup ecosystems.