Venture capital (VC) plays a crucial role in driving global innovation and economic growth, extending beyond Silicon Valley to support high-potential startups worldwide. Unlike traditional financing, VC not only provides capital but also offers strategic mentorship, industry connections, and operational expertise, enabling startups to scale and succeed in competitive markets. The paper introduces the jockey-horse-meadow model, which identifies three key determinants of startup success: the entrepreneurial team (the jockey), the business model and strategy (the horse), and the market context (the meadow). The entrepreneurial team is fundamental, as strong leadership, experience, adaptability, and problem-solving capabilities directly impact a startup’s ability to execute its vision. Even the most innovative idea can fail if the team lacks the necessary expertise and resilience. However, a strong team alone is not enough; the business model and strategy must be well-structured, scalable, and capable of generating long-term value. Investors assess factors such as value proposition, revenue generation methods, competitive advantage, and go-to-market strategy to ensure the business has a clear growth path. Beyond internal factors, the market context significantly influences a startup’s success. A business operating in a large, expanding market with favorable industry trends, manageable competition, and a supportive regulatory environment has a higher chance of sustained growth. Even the best team and business model can struggle in an unfavorable market landscape. By integrating these three elements, venture capitalists can make more informed investment decisions, improving their success rates while helping startups optimize their strategies. This model provides a structured approach for evaluating VC-backed ventures, offering valuable insights for both investors and entrepreneurs. Startups can use this framework to strengthen their leadership, refine their business strategies, and position themselves effectively within the market, increasing their chances of securing investment and achieving long-term sustainability. The synergy between strong leadership, a viable business model, and favorable market conditions is essential for driving not only individual startup success but also the broader impact of venture capital on global economic and technological advancement.,

This research provides valuable insights into the key factors that contribute to the success of venture capital (VC) investments, focusing on three primary determinants: the entrepreneurial team, the business model and strategy, and the market context. Using the "jockey-horse-meadow" model, the study illustrates how these elements interact and influence the long-term success of VC-backed startups.,First, the entrepreneurial team (the jockey) is a crucial driver of startup success, as the skills, experience, leadership capabilities, and adaptability of the founders play a significant role in a company’s ability to execute its vision. A strong team with industry expertise, strategic thinking, and the ability to pivot in response to challenges fosters innovation and increases investor confidence. VCs tend to prioritize startups with resilient and capable leadership, as even the most innovative idea can fail without effective execution.,Second, the business model and strategy (the horse) determine how a startup generates revenue, scales, and sustains long-term growth. A well-defined business model that offers a clear value proposition, competitive advantage, and scalable revenue streams enhances a company’s attractiveness to investors. VCs evaluate whether a startup has a sustainable plan for growth, efficient resource allocation, and a market fit that ensures long-term profitability. The ability of a startup to articulate how it creates, delivers, and captures value is a significant factor in securing VC investment.,Finally, the market context (the meadow) encompasses external factors such as macroeconomic conditions, industry trends, competitive landscape, and regulatory frameworks. Even with a strong team and a robust business model, a startup may struggle if it operates in an unfavorable market environment. VCs assess market demand, industry growth potential, and external risks before making investment decisions. Economic conditions, consumer behavior, and legal or regulatory barriers can significantly impact a startup’s growth trajectory.,By integrating these three key factors, the study provides practical guidance for both investors and entrepreneurs. For venture capitalists, this model helps in making informed investment decisions, reducing risks, and identifying high-potential startups. For entrepreneurs, understanding these determinants enables them to strengthen their leadership, refine their business strategies, and position themselves effectively in the market. Ultimately, the research underscores the importance of aligning team dynamics, a scalable business model, and a favorable market environment to maximize the chances of success in the venture capital ecosystem.