 Explaining the success of a young gaming start-up: a case study of Warhorse StudiosMichal Novák and Pavel Svačina International Journal of Entrepreneurial Venturing, 2023, vol. 15, issue 4, 346-380 Abstract: The survival of early-stage companies is uncertain. Their survival and success are often linked to obtaining a substantial financial investment. This in-depth case study examines how and why an early-stage start-up from the video game industry obtains investment from an independent equity investor and offers deeper and more comprehensive insights into the success mechanism of gaming start-ups. The study: 1) generally confirms the previous findings that certain theoretical factors increase the likelihood of success; 2) argues that accumulating these factors, rather than their presence, is essential for a start-up to be substantially funded; 3) shows that the expected market response is crucial and significantly outweighs the other factors; 4) conceptualise the reasons for start-ups' success as a reduction of two main types of risk - development risk and sales risk; 5) confirms the catalytic role of crowdfunding in obtaining significant equity funding. Keywords: early stage; start-up; success; video game industry; venture capital; investment decision-making; case study; qualitative factors; risk perception; crowdfunding; entrepreneurship. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijeven:v:15:y:2023:i:4:p:346-380 Access Statistics for this article More articles in International Journal of Entrepreneurial Venturing from Inderscience Enterprises Ltd |
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