УДК 330.341.1+330.368

DOI: https://doi.org/10.36887/2415-8453-2025-1-11

Lohinova Kateryna,
Cand. of Sc. in Economics, Ass. Prof. of Management, Business and Administration Department,
Simon Kuznets Kharkiv National University of Economics,
https://orcid.org/0009-0000-0513-0072
Myronova Olga,
Cand. of Sc. in Economics, Ass. Prof.,
Ass. Prof. of the Management, Business and Administration Department,
Simon Kuznets Kharkiv National University of Economics,
https://orcid.org/0000-0002-3188-2881
Yazlyuk Borys,
Doct. of Sc. in Economics, Professor,
Head of the Department of Economic Expertise and Land,
West Ukrainian National University,
https://orcid.org/0000-0002-2078-0644

JEL classification: A19; B49; L10; M29; O12

The article considers the specifics of the development and implementation of startup projects in the context of the modern startup ecosystem, which is an important factor in enterprises’ innovative development and competitiveness. The primary attention is paid to the analysis of interrelationships between key components of the startup ecosystem, such as business models, financial resources, and strategic planning of products and services. The research methodology is based on causal analysis, correlation, and regression analysis, as well as the Granger and Dickey-Fuller tests to assess the impact of external and internal factors on the development of startups. In particular, the relationship between unemployment, inflation, the producer price index, the COVID-19 pandemic, and the number of new startups and venture capital investments were investigated. The results showed that most external factors, such as the COVID-19 pandemic, negatively impact the startup ecosystem, although some indicators, such as venture capital investment, correlate with the development of new enterprises. Studying the specifics of the development and implementation of startup projects is an important aspect of the startup ecosystem that directly affects the efficiency and competitiveness of young, innovative enterprises. The need to analyze business models, attract financial resources, and determine the strategic development of products and services is becoming critical to ensure market survival. In this context, the purpose of this research is to study the relationship between the elements of the startup ecosystem that illustrate the specifics of startup implementation and identify key features of their development. The results obtained may be helpful for scientists and practitioners involved in developing effective models for supporting startups and optimizing their functioning in the current economic environment. The proposed models allow for a deeper understanding of the causes and consequences of changes in the startup ecosystem, which will help create favorable conditions for sustainable development.

Keywords: startup, startup ecosystem, unemployment, venture capital investment, COVID-19 pandemic.

Rеferences

1. Adam, F. (2014). Measuring national innovation performance. In Springer Briefs in Economics. DOI: https://doi.org/10.1007/978-3-642-39464-5.
2. Bannikov, V., Petko, S., Semenov, O., Zhurba, O., & Lohinova, K. (2024). Analysis of the use of blockchain technologies and smart contracts to automate management processes and ensure sustainability. Data and Metadata, Vol. 4. DOI: https://doi.org/10.56294/dm2024461.
3. Banka, M., Salwin, M., Tylzanowski, R., Miciula, I., Sychowicz, M., Chmiel, N., & Kopytowski, A. (2023). Start-up accelerators and their impact on entrepreneurship and social responsibility of the manager. Sustainability, no. 15. Available at: https://www.mdpi.com/2071-1050/15/11/8892.
4. Bigliardi, B., Ferraro, G., Filippelli, S., & Galati, F. (2021). The past, present and future of open innovation. European Journal of Innovation Management, no. 24, pp. 1130–1161.
5. Autio, E. (2016). Entrepreneurship support in Europe: Trends and challenges for EU policy. Report prepared for EU DG Growth. Available at: https://www.researchgate.net/publication/ 304659214_Entrepreneurship_Support_in_Europe_Trends_and_Challenges_for_EU_Policy.
6. Fritsch, M. (2008). How does new business formation affect regional development? Introduction to the special issue. Small Business Economics, no. 30, PP. 1–14.
7. Gidron, B., Cohen-Israel, Y., Bar, K., Silberstein, D., Lustig, M., & Kandel, D. (2021). Impact tech startups: A conceptual framework, machine-learning-based methodology and future research directions. Sustainability, no. 13.
8. Huld, A. (2023). China’s startup landscape – Industries, investment, and incentive policies. China Briefing, no. 5. Available at: https://www.china-briefing.com/news/china-startup-landscape-industries-investment-and-incentive-policies/.
9. Skawińska, E., & Zalewski, R. I. (2020). Success factors of startups in the EU—A comparative study. Sustainability, Vol. 12(19). DOI: https://doi.org/10.3390/su12198200.
10. Teece, D., Peteraf, M., & Leih, S. (2016). Dynamic capabilities and organizational agility: Risk, uncertainty, and strategy in the innovation economy. California Management Review, no. 58, pp. 13–35. Available at: https://journals.sagepub.com/doi/10.1525/cmr.2016.58.4.13.
11. Yun, J. J., Zhao, X., Jung, K., & Yigitcanlar, T. (2020). The culture for open innovation dynamics. Sustainability, No. 12, 5076.
12. Ziakis, C., Vlachopoulou, M., & Petridis, K. (2022). Start-up ecosystem (StUpEco): A conceptual framework and empirical research. Journal of Open Innovation: Technology, Market and Complexity, Vol. 35(8), pp. 1-29.
13. Lohinova, K. S. (2023). «Features of the development and implementation of startup projects in the modern economy: Theoretical aspect». International Scientific Journal “Internauka”. Series: “Economic Sciences”. DOI: https://doi.org/10.25313/2520-2294-2023-11.

The article was received 25.12.2024