WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 16, 2019
Application of Fuzzy Analytic Hierarchy Process in Prioritizing and Ranking Critical Success Factors of Innovation Startups
Authors: Tran Van Trang, Nguyen Quang Vinh, Quang Hung Do
Abstract: The objective of this study is to investigate the Key Success Factors (KSF) and their relative importance on the success of innovation startups in Vietnam context. Seventeen factors (indicators) were identified through the extensive literature review. The indicators were then grouped into four categories including Individuals, Organizational, Externals and Product and Market. A group of fourteen experts were formed and asked to prioritize the factors and indicators. The fuzzy analytic hierarchy process (FAHP) were subsequently utilized to determine the relative weights of factors and indicators in contributing to the success of innovation startups. The results show that the factors have different levels in influencing the success of startups, with Individuals being more important than the others. Regarding the overall impact on the success of startups, the most influential factors are entrepreneurial characteristics including Initial motivation, Experience in the industry and Academic formation.
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Keywords: Fuzzy AHP, Entrepreneurship, Innovation, Critical Success Factors
Pages: 261-270
WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 16, 2019, Art. #29