@article{KabbaraHagen2023,
  author    = {Diala Kabbara and Birgit Hagen},
  title     = {A life cylce view on unicorn start-ups},
  series   = {Journal of Small Business and Enterprise Development},
  volume    = {30},
  number    = {6},
  publisher = {Emerald Publishing Limited},
  address   = {Bingley, West Yorkshire, England},
  issn      = {1462-6004},
  doi       = {10.1108/JSBED-02-2023-0077},
  pages     = {1210 -- 1240},
  year      = {2023},
  abstract  = {Purpose – The purpose of this study is to explore the exogenous and endogenous drivers of the high-growth of Unicorn start-ups along their life cycle, with a particular focus on Unicorns in the fintech industry. Design/methodology/approach – The study employs an explorative longitudinal analysis with a matched pair of two cases of Unicorns start-ups with similar antecedent features to understand holistically drivers over the longer term. Findings – High-growth patterns over the longer term are the result of a combined industry- and company-life cycle perspective. Drivers and growth patterns vary significantly according to the time of entry in the industry and its development status. The findings are systematised within a set of propositions to be tested in future research. Research limitations/implications – The limitations lie in empirical evidence, as the analysis is limited to one matched-pair. The revealed Unicorns’ drivers for long-term growth might encourage future research to further investigate these drivers on a larger scale. Practical implications – The study offers practical recommendations for start-ups with high-growth ambitions and advice to policy makers regarding the development of tailor-made support programs. Originality/value – The study significantly extends extant work on growth and high-growth by examining endogenous and exogenous triggers over time and by linking the Unicorn-life cycle to the industry life cycle, an approach which has, to the best of the authors’ knowledge, not yet been applied.},
  language  = {en}
}