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<p>Effective access to funding is of utmost importance for early-stage start-ups due to its significant impact on their growth, development, and long-term success, particularly those focused on sustainable development. To address this, we set out to investigate the following research question: what are the key factors that influence access to funding for early-stage start-ups focused on sustainable development? Through a comprehensive review of the literature, this research identifies the factors influencing access to start-up funding, categorizing them into three distinct categories: social, environmental, and economic. To further investigate and analyze these factors, a soft computing methodology—Pythagorean fuzzy DEMATEL (Decision-Making Trial and Evaluation Laboratory) approach is employed, depicts causal interrelationships among the identified factors, providing a comprehensive understanding of their relative strengths and dependencies. The study was conducted with a panel of 15 experts, ensuring a diverse range of perspectives. By involving domain experts and practitioners, the study captures their insights and experiences, enhancing the reliability and relevance of the findings. The findings highlight the significance of educational and training opportunities in fostering sustainable entrepreneurship, the role of supportive co-working spaces, incubators, or accelerators in providing a nurturing environment, and the importance of access to advanced technologies and innovation capacity. Understanding and addressing these influential factors will enable stakeholders to develop targeted strategies to foster an ecosystem conducive to the growth and success of sustainable start-ups.</p>

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Analyzing causality among factors influencing funding for early-stage start-ups using Pythagorean fuzzy DEMATEL approach

  • 期刊论文

  • 发表日期：

    2026年8月4日

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  • Ramesh Priyanka,
  • Kandasamy Ravindran,
  • Bathrinath Sankaranarayanan,
  • Huai-Wei Lo,
  • Syed Mithun Ali

摘要

Effective access to funding is of utmost importance for early-stage start-ups due to its significant impact on their growth, development, and long-term success, particularly those focused on sustainable development. To address this, we set out to investigate the following research question: what are the key factors that influence access to funding for early-stage start-ups focused on sustainable development? Through a comprehensive review of the literature, this research identifies the factors influencing access to start-up funding, categorizing them into three distinct categories: social, environmental, and economic. To further investigate and analyze these factors, a soft computing methodology—Pythagorean fuzzy DEMATEL (Decision-Making Trial and Evaluation Laboratory) approach is employed, depicts causal interrelationships among the identified factors, providing a comprehensive understanding of their relative strengths and dependencies. The study was conducted with a panel of 15 experts, ensuring a diverse range of perspectives. By involving domain experts and practitioners, the study captures their insights and experiences, enhancing the reliability and relevance of the findings. The findings highlight the significance of educational and training opportunities in fostering sustainable entrepreneurship, the role of supportive co-working spaces, incubators, or accelerators in providing a nurturing environment, and the importance of access to advanced technologies and innovation capacity. Understanding and addressing these influential factors will enable stakeholders to develop targeted strategies to foster an ecosystem conducive to the growth and success of sustainable start-ups.