DOI: 10.5176/2251-2039_IE15.9
Authors: Prof. Dr. Richard C. Geibel and Meghana Manickam
Abstract: The different factors that affects the startup ecosystem in Germany and in the US are compared in this study and it is analysed what startups consider as critical to their success and how this varies based on the location of the startups. Further it also studies what support systems are critical for startup success. Using the developed scoring mechanism, the study compares the relative scores of various success factors between the German and American startups to identify areas for improvement. The findings suggest that Germany needs to develop a better support system for their startups while the German startups themselves need to focus on building a stronger internal team in order to boost the startup ecosystem. Finally, it is planned to expand this study to analyze how critical success factors vary based on Gender and Industry sector.
Keywords: critical success factors; internal factors; external factors; support from incubator/accelerator; American startups; German startups; scoring mechanism; startup ecosystem; areas for improvement;
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