Networking, experimentation, and financing as drivers of accelerated growth in Peruvian startups

Purpose: This study assesses the impact of networking capability, experimentation capability, and access to financing on the accelerated growth of startups. Design/methodology/approach: A quota sample of 119 Peruvian startups was analyzed using binary logistic regression across five models, each comprising different combinations of the three predictor variables. Findings: The results indicate that family and friendship networks, academic background, and private capital exceeding USD 15,000 are significant predictors of growth. In contrast, professional networks and public funding programs show no statistically significant effect. Furthermore, experimentation capabilities—particularly those involving scientific knowledge and business model consolidation—are strongly associated with growth. Practical implications: Managers should consider that a combination of access to funding, experimentation capability, and networking capability offers a better prediction of accelerated growth than any of these factors individually. In addition, policymakers should note that the amount of funding is crucial for the early-stage growth of startups. Originality/value: This study contributes to the understanding of how dynamic capabilities drive the accelerated growth of startups in nascent ecosystems, such as the Peruvian context.