Work

Financing and Business Model Archetypes as Predictors of Early Survival in European Sustainable Startups

Year: 2025

Type: article

Abstract: Early survival is critical for sustainable startups to deliver environmental and social value, yet evidence on its predictors is limited. Drawing on resource-based and institutional perspectives, this study examines 140 university-affiliated green startups from 24 European countries in the “Stage Two” finals (2021–2023). Exploratory logistic regression links survival to financing structure, sustainable business-model archetypes, and public visibility. Non-equity grants and awards emerge as the strongest predictor, with equity capital and a Crunchbase profile adding smaller benefits. Economic-value archetypes outperform purely environmental or social ones, while technology-intensive B2B firms show the highest resilience. By combining resource sufficiency with legitimacy signaling, the study advances sustainable entrepreneurship theory and offers practical levers: mission-aligned grants, credible digital footprints, and archetype-specific funding strategies to support founders, investors, and policymakers in strengthening Europe’s sustainability-driven startup ecosystem.

Source: Sustainability

DOI: 10.3390/su17219618

Authors: Agnieszka Skala-Gosk, Hubert Dyba, Milena Gołofit-Stawińska, Bartłomiej Gładysz, Tim van Erp

Institutions: Warsaw University of Technology, Zachodniopomorska Szkoła Biznesu w Szczecinie, Flinders University

Language: English

Topic: Entrepreneurship Studies and Influences

Subfield: Management of Technology and Innovation

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: gold

Estimated APC paid: $2,896

Funder: Politechnika Warszawska