Determining Factors for Startup Success in Indonesia: Perspective of Young Entrepreneurs
Corresponding Author(s) : Nicholas Lachlan
Startupreneur Business Digital (SABDA Journal),
Vol. 3 No. 2 (2024): Startupreneur Business Digital (SABDA)
Abstract
The entrepreneurial ecosystem in Indonesia is expanding rapidly, driven by the active involvement of young entrepreneurs. However, the factors influencing the success of these startups remain understudied. This research aims to explore the key determinants of startup success from the perspective of young entrepreneurs in Indonesia. A mixed-methods approach was adopted, incorporating both quantitative surveys and qualitative interviews with startup founders. The quantitative data was analyzed using SmartPLS, while thematic analysis was applied to the qualitative insights. The findings reveal that market adaptability, financial management, mentorship, and innovation are the primary factors contributing to the success of startups. These elements are crucial in shaping the sustainability and growth of startups in the Indonesian context. Understanding these factors can provide valuable insights for aspiring entrepreneurs, investors, and policymakers, helping to create a supportive environment for startup development and success.
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- Ekasari, S., Dharmawan, D., Rismawan, P. A. E., Munizu, M., & Abdurohim, A. (2024). The Influence of Development and Use of Technology and The Economic Environment Situation on The Growth of Start-Up Companies in Indonesia. Innovative: Journal Of Social Science Research, 4(3), 7382-7390.
- Triono, S. P. H., Rahayu, A., Wibowo, L. A., & Alamsyah, A. (2024). The Impact of Entrepreneurial Strategy on the Firm Performance of Indonesian Technology Startups. Jurnal Manajemen Indonesia, 24(1), 84-104.
- Merung, A. Y., Sofyan, I. R., & Sudirman, N. A. (2024). Do Entrepreneurial Competence and Psychological Well-Being Affect Entrepreneurial Interest among Young Entrepreneurs?. Indonesian Journal of Business and Entrepreneurship Research, 2(1), 63-75.
- Pramana, A., Dalimunthe, Z., Gandakusuma, I., & Rizkianto, E. (2025, April). Evaluation Criteria of High-Flyer Tech Startup Investments by Venture Capital Firms in Indonesia. In The 35th IBIMA Conference: Education Excellence and Innovation Management: A.
- Wenno, M., & Ladjin, N. (2024). The Influence of Access to Finance, Government Support, and Industry Collaboration on the Success of Cikarang Start-up. West Science Journal Economic and Entrepreneurship, 2(02), 145-156.
- Wibowo, B. Y., Setiawan, A., Riyanto, M., Suroija, N., & Supaya, S. (2024). The Role Of Marketing Entrepreneurial Capability Model In Creating Young Entrepreneurs. International Journal of Education, Vocational and Social Science, 3(02), 72-86.
- Iskandar, D. (2024). Technology Startups in Indonesia: Riding the Wave of Innovation and Investment. Sinergi International Journal of Economics, 2(2), 13-27.
- Verawati, R., & Yacoob, M. R. (2024). Students’ Interest in Start Up Business: A Systematic Literature Review. Journal of Advanced Research in Business and Management Studies, 36(1), 26-42.
- Paulina, L., Santoso, A. S., An, C., Rahmiati, F., & Yustina, A. I. (2024). What Drives Emerging Products Adoption Intention? Comparing Strategic Entrepreneurship Outcome of Leading Digital Multi-Sided Platform Startups. International Journal of Business, 29, 1.
- Hasanah, F. (2024). Entrepreneurship Education as a Solution for Developing Entrepreneurial Character and Ability in Indonesia. Jurnal Ilmu Manajemen dan Pendidikan| E-ISSN: 3062-7788, 1(1), 22-26.
References
Ekasari, S., Dharmawan, D., Rismawan, P. A. E., Munizu, M., & Abdurohim, A. (2024). The Influence of Development and Use of Technology and The Economic Environment Situation on The Growth of Start-Up Companies in Indonesia. Innovative: Journal Of Social Science Research, 4(3), 7382-7390.
Triono, S. P. H., Rahayu, A., Wibowo, L. A., & Alamsyah, A. (2024). The Impact of Entrepreneurial Strategy on the Firm Performance of Indonesian Technology Startups. Jurnal Manajemen Indonesia, 24(1), 84-104.
Merung, A. Y., Sofyan, I. R., & Sudirman, N. A. (2024). Do Entrepreneurial Competence and Psychological Well-Being Affect Entrepreneurial Interest among Young Entrepreneurs?. Indonesian Journal of Business and Entrepreneurship Research, 2(1), 63-75.
Pramana, A., Dalimunthe, Z., Gandakusuma, I., & Rizkianto, E. (2025, April). Evaluation Criteria of High-Flyer Tech Startup Investments by Venture Capital Firms in Indonesia. In The 35th IBIMA Conference: Education Excellence and Innovation Management: A.
Wenno, M., & Ladjin, N. (2024). The Influence of Access to Finance, Government Support, and Industry Collaboration on the Success of Cikarang Start-up. West Science Journal Economic and Entrepreneurship, 2(02), 145-156.
Wibowo, B. Y., Setiawan, A., Riyanto, M., Suroija, N., & Supaya, S. (2024). The Role Of Marketing Entrepreneurial Capability Model In Creating Young Entrepreneurs. International Journal of Education, Vocational and Social Science, 3(02), 72-86.
Iskandar, D. (2024). Technology Startups in Indonesia: Riding the Wave of Innovation and Investment. Sinergi International Journal of Economics, 2(2), 13-27.
Verawati, R., & Yacoob, M. R. (2024). Students’ Interest in Start Up Business: A Systematic Literature Review. Journal of Advanced Research in Business and Management Studies, 36(1), 26-42.
Paulina, L., Santoso, A. S., An, C., Rahmiati, F., & Yustina, A. I. (2024). What Drives Emerging Products Adoption Intention? Comparing Strategic Entrepreneurship Outcome of Leading Digital Multi-Sided Platform Startups. International Journal of Business, 29, 1.
Hasanah, F. (2024). Entrepreneurship Education as a Solution for Developing Entrepreneurial Character and Ability in Indonesia. Jurnal Ilmu Manajemen dan Pendidikan| E-ISSN: 3062-7788, 1(1), 22-26.