Do Business Models Matter for Start-up Success? A Systematic Literature Review using PRISMA Model

Vol 10 , Issue 1 , January - June 2023 | Pages: 115-143 | Review paper

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https://doi.org/10.17492/jpi.mudra.v10i1.1012307

Published Online: June 03, 2023

Author Details ( * ) denotes Corresponding author

1. * Shivani Shivhare, Research Scholar, Faculty of Commerce, Banaras Hindu University, Varanasi, Uttar Pradesh, India (shivanihare38@bhu.ac.in)

2. V. Shunmugasundaram, Professor, Commerce, Faculty of Commerce, Varanasi, Uttar Pradesh, India (sundaram@bhu.ac.in)

This study aims to review the literature on business models (BMs) in start-ups to provide fundamental and practical knowledge. The quality and management of BMs affect the performance, profitability, and value creation of start-ups, making it crucial to understand the methods and tools related to BMs. The study followed Preferred Reporting for Systematic Review and Meta-Analysis (PRISMA) guidelines to review 26 articles published in the last 10 years in journals and conferences collected from Science Direct, Web of Science (WOS), and Taylor & Francis Online. The findings from the study can be beneficial for researchers, entrepreneurs, managers, and practitioners to develop, scale-up, and validate BMs in start-ups to maximize their success. The study highlights a lack of academic publications on BMs in start-ups, and this is the first systematic literature review to explore the role of BMs in start-up success from peer-reviewed journals and conferences.

Keywords

Startups; Business model; Innovation; Sustainable business model; Lean startup; Value creations; Investment; Customer development

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