Abstract: After an overview of more than 50 success prediction models for new ventures and identification of success factors and successful model patterns, and analysis of the venture creation process, a model for predicting the success of new ventures is proposed. The success prediction model is extended with measurable variables. Interviews with company owners are conducted to gather initial opinions, to identify possible gaps and to revise the model. Initial results and feedback from the interviews are presented, analyzed and compared to the model to draw conclusions and to make improvements. A survey to statistically validate the success prediction model is currently in progress.
Authors: Yankov, B.