Start-ups as drivers of economic growth

The purpose of this study is to determine the relationships between the implementation of start-ups and the dynamics of the main characteristics of national economic growth. In developing the methodological design of the study, a quantitative approach was used, which allowed realizing the advantages of the integrated use of correlation and regression analysis, analysis of trend models and general scientific methods of knowledge to analyze the time series model and prove the following hypotheses on the example of the economies of Canada, China, and South Korea. Н1: An increase in the number of start-ups has a positive impact on the sustainable development of the social sphere. Н2: More start-ups have a positive impact on the sustainable development of the economy. Н3: More start-ups have a positive impact on the sustainable development of the green society; Н4: The increase in the number of start-ups has a positive effect on the development of the institutional sphere. The study results substantiate a strong direct correlation between the implementation of start-ups and the achievement of the UN SDGs (Sustainable Development Goals), with a link proven not only for economic, but also for social, environmental, and institutional SDGs, which increases the importance of start-ups for achieving sustainable development in territories.

This study may be of interest to state and municipal officials in the implementation of measures to create a favorable startup ecosystem and to academic researchers, opening new avenues for future research.