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<article article-type="Research Article">
  <front>
    <journal-meta>
      <journal-id journal-id-type="publisher">journal-of-information-and-optimization-sciences</journal-id>
      <journal-title-group>
        <journal-title>Journal of Information and Optimization Sciences</journal-title>
      </journal-title-group>
      <issn publication-format="electronic">2169-0103</issn>
      <issn publication-format="print">0252-2667</issn>
      <publisher>
        <publisher-name>Taru Publications</publisher-name>
      </publisher>
    </journal-meta>
    <article-meta>
      <article-id pub-id-type="doi">10.47974/JIOS-2437</article-id>
      <title-group>
        <article-title>Strategic funding decisions and startup success : A multi-method empirical study of venture capital, angel investing, crowdfunding, and incubators in the Indian ecosystem</article-title>
      </title-group>
      <contrib-group>
        <contrib contrib-type="author">
          <name>
            <surname>Rathod</surname>
            <given-names>Chiragkumar B.</given-names>
          </name>
          <aff>Department of Business Management, Faculty of Management Studies, Smt. S. B. Patel Institute of Business Management, Sankalchand Patel University, Visnagar, Gujarat, 384315, India</aff>
        </contrib>
        <contrib contrib-type="author" corresp="yes">
          <name>
            <surname>Patel</surname>
            <given-names>Sunil</given-names>
          </name>
          <aff>Department of MBA, Unitedworld Institute of Management, Karnavati University, Gandhinagar, Gujarat, 382422, India</aff>
        </contrib>
        <contrib contrib-type="author">
          <name>
            <surname>Patel</surname>
            <given-names>Chirag Rasikbhai</given-names>
          </name>
          <aff>Department of Business Management, Faculty of Management Studies, Sankalchand Patel University, Visnagar, Gujarat, 384315, India</aff>
        </contrib>
        <contrib contrib-type="author">
          <name>
            <surname>Karnavat</surname>
            <given-names>Bhagvan M.</given-names>
          </name>
          <aff>Department of Management Studies, School of Management Studies, National Forensic Sciences University, Delhi Campus, Rohini, Delhi, 110085, India</aff>
        </contrib>
        <contrib contrib-type="author">
          <name>
            <surname>Kumar</surname>
            <given-names>Bhupinder</given-names>
          </name>
          <aff>Department of Business Management, Amity Global Business School, Malad West, Mumbai, Maharashtra, 400064, India</aff>
        </contrib>
      </contrib-group>
      <volume>47</volume>
      <issue>9-B</issue>
      <fpage>3405</fpage>
      <lpage>3414</lpage>
      <pub-date date-type="pub">
        <day>30</day>
        <month>09</month>
        <year>2026</year>
      </pub-date>
      <abstract>
        <p>This study examines how venture capital, angel investment, crowdfunding, and incubators influence revenue growth, market expansion, product-market fit, and startup survival in India’s rapidly evolving ecosystem. Using fixed-effects panel, logistic, and Cox regression models, and drawing on agency theory, resource orchestration, and selection-bias perspectives, funding choice is treated as a strategic moderator of venture performance. The study introduces the Funding Orchestration Framework (FOF) to explain interactions and potential synergies among funding sources, while considering GenAI investment, domestic LP participation, and Startup India incentives. The findings support hybrid funding strategies and wider regional funding access to promote sustainable and inclusive startup growth.</p>
      </abstract>
      <kwd-group>
        <kwd>Entrepreneurial finance</kwd>
        <kwd>Strategic funding</kwd>
        <kwd>Venture capital</kwd>
        <kwd>Angel investing</kwd>
        <kwd>Crowdfunding</kwd>
        <kwd>Incubators</kwd>
      </kwd-group>
      <custom-meta-group>
        <custom-meta>
          <meta-name>access</meta-name>
          <meta-value>open</meta-value>
        </custom-meta>
        <custom-meta>
          <meta-name>retracted</meta-name>
          <meta-value>no</meta-value>
        </custom-meta>
      </custom-meta-group>
    </article-meta>
  </front>
</article>
