Interactive Effect of Success Factors for High-Tech Startups: Value Propositions, Target Market and Operational Excellence

Abhishek Kumbhat () and Sushil
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Abhishek Kumbhat: IIT Delhi
Sushil: IIT Delhi

International Journal of Global Business and Competitiveness, 2022, vol. 17, issue 1, No 7, 73-88

Abstract: Abstract Innovation-driven high-tech startups create long-term national competitiveness and socio-economic prosperity. However, a high failure rate of startups has resulted in reduced investor attraction for early-stage startups. Liability of novelty and longer time to market are additional challenges for high-tech startups. Considering such concerns, many researchers have discussed either a generic bouquet of success factors or a particular competitiveness factor specific to a context. Most of the prior research has considered such factors in isolation; however, practically, these factors influence each other, and their interactive effect ultimately influences startup success. This paper discusses the interactive effect among startup success factors for the first time. At first, this paper compiles a list of 33 success factors associated with the value proposition, market and operations. Further, the inter-relationship among these factors is illustrated in the form of two digraphs through Total Interpretive Structural Modelling (TISM). It is concluded that ‘Building Innovation culture in the team’ and ‘Comprehensive pre-startup planning’ with ‘Growth and Size of the Market’ are the root factors among proposed factors. Considering the questionable stage of high-tech startups, especially in emerging countries such as India, the proposed factors will help startups offer appropriate value propositions and operational excellence. The findings will enable the stakeholders in embedding their startups with proper ingredients and ultimately strengthen the early-stage startup ecosystem.

Keywords: Startups; Success factors; Entrepreneurship; Value proposition; Innovation; Organizational competitiveness (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s42943-022-00054-y

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