Vol. 12 (2025) No. 1
Exploring trends and topics of startup research over 25 years using bibliometric and topic modelling analysis
This study comprehensively examines startup research over the past 25 years. Analyzing a dataset of 1195 papers from the Web of Science, the paper aims to uncover publication trends, top contributing journals, countries, and common research subjects within the startup research field. Topic modeling is used to identify and categorize major research topics within the startup domain. The analysis reveals a significant increase in research interest in startups, especially over the past decade. This surge is linked to the late twentieth-century internet revolution, which catalyzed entrepreneurial activity and caught the attention of researchers, policymakers, and investors. Topic modeling identified ten major themes in startup research: innovation, startup success, startup ecosystem, economic development, markets, gender, leadership & decision-making, venture capital, and social entrepreneurship. The findings have substantial implications for both theory and practice. For researchers, the identified trends and topics can guide future studies and can contribute to a deeper understanding of the startup world. For practitioners and policymakers, insights into the predominant themes and geographic trends can be fed into strategic decisions and policy formulations aimed at enhancing startup ecosystems and supporting entrepreneurial ventures.
This study combines quantitative analysis and topic modelling to offer valuable insights into startup research. Using a dataset from Web of Science, the study analyses 1195 papers published over 25 years (2000-2024), highlighting key publications, countries, and journals. The research tracks growing academic interest in startups, particularly over the last decade, when digital technology and internet advancements heavily impacted startups. By employing topic modelling, the study identifies the top 10 topics explored in startup literature, and focuses on areas like management, decision-making, venture capital, economic development, and startup ecosystems. The findings underscore startups’ role in innovation, economic growth, and social change, thereby offering valuable insights for researchers, policymakers, and entrepreneurs. Additionally, the study highlights research gaps that can guide future investigations into startups.
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