


Volume 20 No 10 (2022)
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The Role of Innovation in Startup Success: Disrupting Traditional Markets
Dr. Sunil Balkrishna Joshi, Prashant B. Chordiya , Dr. Rajesh Gawali, Pradeep Kumar Shitole
Abstract
Startups, especially those seeking to disrupt established market segments, rely heavily on innovation to succeed. This study examines how creative strategies affect the development, sustainability, and competitive edge of startups. This study investigates data collected from 210 participants, including startup founders, employees, and investors, to explore the impact of different types of innovation—technological, process, business model, and market innovation—on the success of startups. This study employs quantitative analysis to evaluate essential performance metrics, such as market penetration, revenue growth, customer acquisition, and brand positioning. The results indicate that startups utilizing disruptive innovation surpass their rivals in conventional industries. The study identifies challenges encountered by startups in the implementation of innovation, such as resource limitations and regulatory obstacles. The findings offer significant insights for entrepreneurs, policymakers, and investors aiming to cultivate an innovation-driven startup ecosystem.
Keywords
Startup Success, Disruptive Innovation, Market Penetration, Business Model Innovation.
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