SYSTEMATIC LITERATURE REVIEW ON FACTORS IMPACTING THE JOURNEY OF STARTUPS TO ENTERPRISES

Abstract

Purpose: This paper sheds light on the myriad factors that exert influence on the development and success of startups and enterprises. Through a meticulous systematic literature review, it emphasizes the diverse spectrum of elements shaping the landscape for these business ventures. Drawing on secondary data from an array of journals and disciplinary streams, the study underscores the paramount importance of government policies, educational institution support, incubator contributions, and societal impact as key determinants for both startups and enterprises. The overarching aim of this research is to dissect the intricate web of influences on the establishment and prosperity of startups and enterprises. Furthermore, the study adopts a three-pronged analytical approach, assessing these factors through the lenses of temporal dynamics, varied journal sources, and diverse methodological frameworks.

Methodology: The paper employs the PRISMA statement as its chosen methodology, conducting a systematic review in two key stages: 1) the acquisition and selection of papers, and 2) the subsequent descriptive and content analysis of the selected papers. Through this rigorous process, the study identifies and focuses on 601 papers crucial for a comprehensive understanding of the subject matter at hand.

Findings: The study's results suggest that among the myriad factors influencing startups and enterprises, the pivotal contributors to their growth and long-term impact are government policies and support, support from educational institutions, the role of incubators, and the societal impact these ventures generate. These four elements emerge as crucial determinants in shaping the trajectory and enduring influence of startups and enterprises.

Research limitations: The current investigation concentrated on a selection of papers sourced from two databases: Google Scholar and ScienceDirect. To broaden the research scope, future studies could enhance comprehensiveness by enlarging the sample size and incorporating papers from a wider array of global databases. Moreover, a deeper exploration could involve the examination of additional factors of interest through further investigative analysis.

Theoretical contributions: This article emerges as a pivotal resource for researchers keen on unravelling the dynamics inherent in startups and enterprises. It not only provides innovative perspectives on both well-established and emerging factors influencing successful ventures but also plays a crucial role in setting a theoretical foundation for forthcoming empirical research. As a guiding beacon, this paper aids researchers in crafting hypotheses and shaping research questions within the same domain, establishing itself as an indispensable reference for those navigating the complex terrain of startup studies.