Promoting evidence-based design and evaluation in early stage startups

A long-lasting research topic of literature is the startups success in the contemporary economy, studying the impact of startups on value creation, innovation and the economy itself for each region. This belief in entrepreneurship as a potential solution to unemployment, economic growth, regional development and innovation, leads to substantial levels of public support.

This topic is what the scientific publication that we analyze today talks about, which is written by Francesc Font Cot, Pablo Lara Navarra and Enric Serradell López, the last 2 members of the Management & e-Learning (MeL) research group. The article was presented and published in Research and Innovation Forum 2020.

Objectives and Methodology

The article aims to develop a comprehensive framework that addresses the critical factors influencing the success and failure of early-stage startups. Its primary objectives include creating a decision-making simulator that integrates both internal and external factors, allowing startups to define tailored strategies to enhance their survival and growth.

The methodology employs a mixed methods approach, incorporating qualitative and quantitative data collection through case studies of various startup types, including those in their early stages and those that have successfully transitioned beyond this phase. Additionally, focus groups with entrepreneurship experts and successful entrepreneurs was conducted to test the simulator and evaluate the developed indicators.

Results and Conclusions

The article identifies a range of internal factors, such as financial management and human resources, as well as external factors like market conditions and competition. The research culminates in the development of an integrative framework designed to guide startups in making informed decisions that enhance their survival chances.

A decision-making simulator was also created and validated through focus groups with entrepreneurship experts, ensuring its effectiveness in evaluating decision quality based on the identified indicators. The conclusions emphasize the necessity of a holistic approach to startup strategy, which considers a wide array of factors to inform strategic decisions and reduce startup mortality rates.

Additionally, the findings highlight the framework’s practical implications for stakeholders, including founders, investors, and advisors, by providing a structured methodology for evaluating startup strategies.

Consult the study

You can consult the full article by clicking here.