CAN BUSINESS MODEL COMPONENTS EXPLAIN DIGITAL START-UP SUCCESS? A Qualitative Analysis of the Business Models of Start-ups from the Perspective of German Venture Investors

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  • Nina Schumacher
This study explores the success relevance of business model components of digital start-ups from the perspective of German venture capital (VC) investors. In doing so, the study explains the importance of the business model in general and the importance of a convincing value proposition and a plausible revenue model in particular for the investment decision process of VC investors. The study takes an exploratory three-dimensional research approach that integrates the meso-perspective on the business model, the micro-perspective on the entrepreneurial personality, and the macro-perspective on the entrepreneurial context, thus operating in a very young research field. In contrast to most studies on this topic, this paper shows that the business model is not the key resource for the success of a start-up, while an early concept of a business idea might be. Communication and interaction with VC investors at this early stage can be valuable tools for the continuous development of the initial business idea.
Original languageEnglish
Issue number1
Pages (from-to)81-98
Number of pages18
Publication statusPublished - 01.06.2022

    Research areas

  • Start-up Success, Entrepreneurship, Business model, Venture capital investors, Value Proposition, Revenue Model, Digital Start-up
  • Management studies
  • Entrepreneurship