Startup Performance: Mapping Pillars of Global Entrepreneurship Index and The Development of Studies

Y.K. Dewi, H. Hanifah, A.P. Teoh

Abstract


 

This study aimed to conduct a systematic literature review about startup performance and its development in recent years to get a brighter perspective for the following research about entrepreneurship, especially for high-tech startup performance. This study reviewed articles from indexed journals related to Startups published in 2018 until early 2021, focusing on startup ecosystems, startup growth, sustainability, and other topics related to the 14 pillars of the Global Entrepreneurship Index (GEI). This study discussed the development of terms and previous literature studies related to Start-up Performance, mapping 65 studies from the last four years. The result found that most of the research conducted using quantitative methods is in the cluster of entrepreneurial attitudes compared to entrepreneurial abilities and entrepreneurial aspirations. This study also proposed the development of exciting research to examine further related to the existence of startups and improved performance.

 


Full Text:

PDF

References


Ács ZJ, Szerb L, Lafuente E, Gabor M. Global Entrepreneurship Index 2019. 2020;(April):1–71

Aldianto L, Anggadwita G, Permatasari A, Mirzanti IR, Williamson IO. Toward a business resilience framework for startups. Sustainability (Switzerland). 2021 Mar 2;13(6).

Ács ZJ, Szerb L, Lloyd a. Global Entrepreneurship Index 2018. 2017;(November):1–89

Ács ZJ, Szerb L, Autio E. Global Entrepreneurship Index 2015. 2015;(January):1–254.

Cockayne D. What is a startup firm? A methodological and epistemological investigation into research objects in economic geography. Geoforum. 2019 Dec 1;107:77–87.

Damodaran A. Valuing Young, Start-up and Growth Companies: Estimation Issues and Valuation Challenges [Internet]. 2009. Available from: http://ssrn.com/abstract=1418687

Kollmann T, Stöckmann C, Hensellek S, Kensbock J, Universität Duisburg-Essen Lehrstuhl für E-Business und E-Entrepreneurship. European Startup Monitor 2016.

Akkaya M. Startup Valuation. In 2019. p. 137–56.

Zyphur MJ, Pierides DC. Statistics and Probability Have Always Been Value-Laden: An Historical Ontology of Quantitative Research Methods. Journal of Business Ethics. 2020 Nov 1;167(1).

Honjo Y, Nakamura H. The link between entrepreneurship and informal investment: An international comparison. Japan and the World Economy [Internet]. 2020;54:101012. Available from: https://www.sciencedirect.com/science/article/pii/S092214252030013X

Mungila Hillemane BS. Entrepreneurial ecosystem for tech startups in Bangalore: an exploration of structure and gap. Journal of Small Business and Enterprise Development. 2020 Oct 29;27(7):1167–85.

Demir KA, Döven G, Sezen B. Industry 5.0 and Human-Robot Co-working. In: Procedia Computer Science. Elsevier B.V.; 2019. p. 688–95.

Amry DK, Ahmad AJ, Lu D. The new inclusive role of university technology transfer: Setting an agenda for further research. International Journal of Innovation Studies. 2021 Mar 1;5(1):9–22.

Ferreira RM, Pereira PJ. A dynamic model for venture capitalists' entry–exit investment decisions. European Journal of Operational Research. 2021 Apr 16;290(2):779–89.

Leendertse J, van Rijnsoever FJ, Eveleens CP. The sustainable startup paradox: Predicting the Business and climate performance of startups. Business Strategy and the Environment. 2021 Feb 1;30(2):1019–36.

van Rijnsoever FJ, Eveleens CP. Money Don't matter? How incubation experience affects startup entrepreneurs' resource valuation. Technovation. 2021 Aug 1;106.

Caliendo M, Künn S, Weissenberger M. Catching up or lagging behind? The long-term business and innovation potential of subsidised startups out of unemployment. Research Policy. 2020 Dec 1;49(10).

Canovas-Saiz L, March-Chordà I, Yagüe-Perales RM. A quantitative-based model to assess seed accelerators' performance. Entrepreneurship and Regional Development. 2021;33(3–4):332–52.

Kaufmann D, Reuveni B. Influence of economic crisis on the performance of incubated companies: the Israeli case. European Planning Studies. 2020 Nov 1;28(11):2153–73.

Pinkow F, Emmerich P. RE-EXAMINING CROWDFUNDING SUCCESS: HOW THE CROWDFUNDING GOAL MODERATES THE RELATIONSHIP OF SUCCESS FACTORS AND CROWDFUNDING PERFORMANCE. Central European Business Review. 2021;10(20):1–24.

Tekin E, Ramadani V, Dana L-P. Entrepreneurship in Turkey and other Balkan countries: are there opportunities for mutual co-operation through internationalisation? Review of International Business and Strategy [Internet]. 2021 Jan 1;31(2):297–314. Available from: https://doi.org/10.1108/RIBS-10-2020-0133

Gupta N. Service Quality: Business Incubation and Supportive Policy Intervention. A Quarterly Journal.

Oppong GYS, Singh S, Kujur F. Potential of digital technologies in academic entrepreneurship – a study. International Journal of Entrepreneurial Behavior & Research [Internet]. 2020 Jan 1;26(7):1449–76. Available from: https://doi.org/10.1108/IJEBR-06-2019-0401

Tolmachev DE, Chukavina K v. Technology entrepreneurship in the Russian regions: Educational and geographical paths of startup founders. Economy of Region. 2020;16(2):420–34.

Hudáková M, Urbancová H, Vnou?cková L. Key criteria and competences defining the sustainability of startup teams and projects in the incubation and acceleration phase. Sustainability (Switzerland). 2019 Dec 1;11(23).

van Weele M, van Rijnsoever FJ, Eveleens CP, Steinz H, van Stijn N, Groen M. Start-EU-up! Lessons from international incubation practices to address the challenges faced by Western European startups. The Journal of Technology Transfer [Internet]. 2018;43(5):1161–89. Available from: https://doi.org/10.1007/s10961-016-9538-8

Vasconcelos Gomes LA de, Salerno MS, Phaal R, Probert DR. How entrepreneurs manage collective uncertainties in innovation ecosystems. Technological Forecasting and Social Change. 2018 Mar 1;128:164–85.

Choi SK, Han S, Kwak KT. Innovation capabilities and the performance of startups in Korea: The role of government support policies. Sustainability (Switzerland). 2021 Jun 1;13(11).

Eesley CE, Lee YS. Do university entrepreneurship programs promote entrepreneurship? Strategic Management Journal. 2021 Apr 1;42(4):833–61.

Halberstadt J, Niemand T, Kraus S, Rexhepi G, Jones P, Kailer N. Social entrepreneurship orientation: Drivers of success for startups and established industrial firms. Industrial Marketing Management. 2021 Apr 1;94:137–49.

Minola T, Hahn D, Cassia L. The relationship between origin and performance of innovative startups: the role of technological knowledge at founding. Small Business Economics. 2021 Feb 1;56(2):553–69.

Mota R de O, Godinho Filho M, Osiro L, Ganga GMD, Mendes GH de S. Unveiling the relationship between drivers and capabilities for reduced time-to-market in startups: A multi-method approach. International Journal of Production Economics [Internet]. 2021;233:108018. Available from: https://www.sciencedirect.com/science/article/pii/S0925527320303674

Assenova VA. Institutional change and early-stage startup selection: Evidence from applicants to venture accelerators. Organization Science. 2021 Mar 1;32(2):407–32.

Polo García-Ochoa C, De-Pablos-Heredero C, Blanco Jiménez FJ. How business accelerators impact startup's performance: Empirical insights from the dynamic capabilities approach. Intangible Capital. 2020;16(3):107–2

Chillakuri B, Vanka S, Mogili R. Linking sustainable development to startup ecosystem in India – a conceptual framework. Vol. 25, Int. J. Business and Globalisation. 2020.

Garidis K, Rossmann A. A framework for cooperation behavior of startups. Journal of Small Business and Enterprise Development [Internet]. 2019 Jan 1;26(6/7):877–90. Available from: https://doi.org/10.1108/JSBED-04-2019-0125

Peng H, Zhou C, Liu Y. Entrepreneurial experience and performance: From the aspect of sustainable growth of enterprises. Sustainability (Switzerland). 2020 Sep 1;12(18).

Snehal S, Ranjany S, Krishnashree A. Assessing and comparing top accelerators in Brazil, India, and the USA: Through the lens of new ventures' performance. Entrepreneurial Business and Economics Review. 2020 Jun 1;8(2):153–77.

Zielske M, Held T. The Use of Agile Methods in Logistics Start-ups: An Explorative Multiple Case Study. International Journal of Innovation and Technology Management [Internet]. 2020 Aug 10;17(06):2050042. Available from: https://doi.org/10.1142/S021987702050042X

Regner T, Crosetto P. The long-term effects of self pledging in reward crowdfunding. Technological Forecasting and Social Change [Internet]. 2021;165:120514. Available from: https://www.sciencedirect.com/science/article/pii/S0040162520313408

Yasin N, Khansari Z, Tirmizi K. Exploring the challenges for entrepreneurship business incubator hubs in the United Arab Emirates. International Journal of Globalisation and Small Business [Internet]. 2021 Jan 1;12(2):190–212. Available from: https://www.inderscienceonline.com/doi/abs/10.1504/IJGSB.2021.114575

Rok B, Kulik M. Circular startup development: the case of positive impact entrepreneurship in Poland. Corporate Governance: The International Journal of Business in Society [Internet]. 2021 Jan 1;21(2):339–58. Available from: https://doi.org/10.1108/CG-01-2020-0043

Adams SB. From orchards to chips: Silicon Valley's evolving entrepreneurial ecosystem. Entrepreneurship and Regional Development. 2021;33(1–2):15–35.

Amelia TN, Thoyib A, Irianto G, Rofiq A. Tech Start-up Incubation Program: Business Model Evaluation on Government Based Incubator in Indonesia. TEM Journal. 2021 Feb 1;10(1):283–91.

Young Chung W, Jo Y, Lee D. Where should ICT startup companies be established? Efficiency comparison between cluster types. Telematics and Informatics [Internet]. 2021;56:101482. Available from: https://www.sciencedirect.com/science/article/pii/S0736585320301416

Anwana E. Enhancing the Entrepreneurship Framework in [Internet]. International Journal of Entrepreneurship Article in International Journal of Entrepreneurship. 2020. Available from: https://www.researchgate.net/publication/344458258

Kagan E, Leider S, Lovejoy WS. Equity contracts and incentive design in startup teams. Management Science. 2020 Oct 1;66(10):4879–98.

Zhao F, Prentice C, Wallis J, Patel A, Waxin MF. An integrative study of the implications of the rise of coworking spaces in smart cities. Entrepreneurship and Sustainability Issues. 2020 Dec 1;8(2):467–86.

Corrente S, Greco S, Nicotra M, Romano M, Schillaci CE. Evaluating and comparing entrepreneurial ecosystems using SMAA and SMAA-S. Journal of Technology Transfer. 2019 Apr 1;44(2):485–519.

Seo YW, Lee YH. Effects of internal and external factors on business performance of startups in South Korea: The engine of new market dynamics. International Journal of Engineering Business Management. 2019 Jan 18;11:1847979018824231.

Jaafar NJ, Alwazni JS. Social Networks And Future Orientation Of Females Entrepreneurs In Malaysia: The Mediate Effect Of Innovation And The Moderate Effect Of Access To Loan.

Yusendra MA, Paramitasari N, Ribhan AA. Is The Quality of Business Incubator Programs Capable of Boosting Entrepreneurial Orientation and Intention at Higher Education?.

Szalavetz A. Artificial intelligence-based development strategy in dependent market economies–Any room amidst big power rivalry?. Central European Business Review. 2019;8(4):40-54.

Padrão LC, Andreassi T, Brito LA. Marketing capability, technical capability or degree of product innovation: what really matters in leveraging the sales of technology-based startups?. International Journal of Entrepreneurship and Innovation Management. 2019;23(3):281-300.

di Fatta D, Caputo F, Dominici G. A relational view of startup firms inside an incubator: the case of the ARCA consortium. European Journal of Innovation Management. 2018 Aug 3;21(4):601–19.

Famiola M, Hartati S. Entrepreneurship learning system in business incubators: An case study in Indonesia. International Journal of Engineering and Technology(UAE). 2018;7(4):57–62.

Jonek-Kowalska I, Wolniak R. The influence of local economic conditions on startups and local open innovation system. Journal of Open Innovation: Technology, Market, and Complexity. 2021 Jun 1;7(2).

Fichter K, Tiemann I. Factors influencing university support for sustainable entrepreneurship: Insights from explorative case studies. Journal of Cleaner Production. 2018;175:512–24.

Sinčić Ćorić D, Lučić A, Brečić R, Šević A, Šević Ž. An Exploration of Startups' Sustainable Marketing Orientation (SMO). Industrial Marketing Management. 2020 Nov 1;91:176–86.

Ma Z, Zhu J, Meng Y, Teng Y. The impact of overseas human capital and social ties on Chinese returnee entrepreneurs' venture performance. International Journal of Entrepreneurial Behavior & Research. 2019 Jan 14.

Ghosh D, Mehta P, Avittathur B. Supply chain capabilities and competitiveness of high-tech manufacturing startups in India. Benchmarking: An International Journal [Internet]. 2021 Jan 1;28(5):1783–808. Available from: https://doi.org/10.1108/BIJ-12-2018-0437

Pacheco Pardo R, Klingler-Vidra R. The Entrepreneurial Developmental State: What is the Perceived Impact of South Korea's Creative Economy Action Plan on Entrepreneurial Activity? Asian Studies Review. 2019 Apr 3;43(2):313–31.

Ganguly A, Talukdar A, Chatterjee D. Evaluating the role of social capital, tacit knowledge sharing, knowledge quality and reciprocity in determining innovation capability of an organisation. Vol. 23, Journal of Knowledge Management. 2019. 1105–1135 p.

Bastié F, Cieply S, Cussy P. Does mode of transfer matter for business performance? Transfers to employees versus transfers to outsiders. Small Business Economics. 2018 Jan;50(1):77-89.

Mishra ON, Gupta S. Antecedents and Impact of E-commerce Adoption among New Venture Firms: Evidence from Tourism and Hospitality Industry. Vision. 2020 Dec 1;24(4):431–40.

Ferri S, Fiorentino R, Parmentola A, Sapio A. Patenting or not? The dilemma of academic spin-off founders. Business Process Management Journal. 2019 Jul 9.

Power B, Reid GC. The impact of intellectual property types on the performance of business startups in the United States. International Small Business Journal: Researching Entrepreneurship. 2021 Jun 1;39(4):372–400.

Dorcas KD, Celestin BN, Yunfei S. Entrepreneurs traits/characteristics and innovation performance of waste recycling startups in Ghana: An application of the upper echelons theory among seed award winners. Sustainability (Switzerland). 2021 Jun 1;13(11).

Gupta VK, Batra S. Entrepreneurial orientation and firm performance in Indian SMEs: Universal and contingency perspectives. International Small Business Journal: Researching Entrepreneurship. 2016;34(5):660–82.

Stefanelli V, Boscia V, Toma P. Does knowledge translation drive spin-offs away from the "valley of death"? A nonparametric analysis to support a banking perspective. Management Decision. 2020 Aug 11.

Maia MM. How do start-ups grow? The role of performances and discourses in search for capital. Revista Brasileira de Ciências Sociais. 2019 Apr 15;34.

Sahi GK, Gupta MC, Cheng TCE. The effects of strategic orientation on operational ambidexterity: A study of indian SMEs in the industry 4.0 era. International Journal of Production Economics [Internet]. 2020;220(August 2018):107395. Available from: https://doi.org/10.1016/j.ijpe.2019.05.014

Slavik S, Hanak R, Hudakova IM. Natural and Generic Strategies of Startups and Their Efficiency. Journal of Competitiveness. 2020 Jun 1;12(2):125.

O'Connor JT, Shrestha BK, Winkler M, Ouk Choi J. Relationship between Commissioning and Start-Up Success Factors Achievement and Performance in Capital Projects. Journal of Construction Engineering and Management. 2021 Mar 1;147(3):04021001.

Valles VM, Cuesta PY, Reina LB. Analysis of ventures created in time of the covid-19 pandemic in the Canton Ibarra. Universidad y Sociedad. 2021:345-53.

Zhou Z, Verburg R. Open for Business: The impact of creative team environment and innovative behaviour in technology-based startups. International Small Business Journal: Researching Entrepreneurship. 2020;38(4):318–36.


Refbacks

  • There are currently no refbacks.


ISSN : 2590-3551, eISSN : 2600-8122     

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0).

Best viewed using Mozilla Firefox, Google Chrome and Internet Explorer with the resolution of 1280 x 800