Insights from 132 Startups on the Real Driver of Success and Lower Failure Rates

Building on the previous post titled “Evidence from over 700 European startups demonstrates how science can boost startup revenue,” it is worth highlighting a new insight from recent research. A paper just published in the journal Research Policy shows that entrepreneurs who adopt a scientific mindset build their startup teams differently. Based on a randomized controlled trial involving 132 early-stage startups, researchers found that founders trained in the Entrepreneurs-as-Scientists framework rethink who belongs on their teams.

Instead of relying mainly on technical co-founders or personal connections, these entrepreneurs increasingly recruit individuals with managerial and industry experience to fill critical capability gaps. Over a 64-week period, teams exposed to the framework became more strategically balanced. The implications are clear: accelerators, investors, and founders may benefit from treating entrepreneurship more like an experiment—where team composition evolves to match the resources a startup truly needs. https://www.sciencedirect.com/science/article/pii/S0048733326000521

The two studies complement each other: the analysis of 700 startups shows that scientific thinking boosts revenue, while the experiment with 132 ventures reveals the mechanism—founders rethink team composition to better support experimentation and learning.

PS – Startup success also depends on people “shaped by risk and sharpened by adversity, and thus capable of turning uncertainty into possibilities” like those highlighted here https://19-pacheco-torgal-19.blogspot.com/2026/02/nuno-loureiro-in-praise-of-failure.html