Fuelling a Sustainable Future: How Investor Networks, Market Performance, and Environmental Impact Shape Funding Success in Electric Vehicle Startups

Abstract

This thesis explores the financial dynamics behind the funding success of electric vehicle startups by examining three key areas: investor networks, market performance, and environmental innovation. Based on panel data from 58 countries from 2014 to 2023, the study shows that startups with strong, well-connected investor networks secure considerably higher funding. In addition, while market performance—as indicated by EV revenue—and sustainable practices such as renewable energy use play important roles, they are most effective when paired with robust investor engagement. The research employs advanced regression techniques, including fixed effects models with robust standard errors, to account for variations over time and across regions. This ensures that the insights presented are reliable and contextually rich. The findings emphasize that internal strengths, rather than broader economic conditions, are key drivers of financial success in the EV sector. This research suggests that nurturing investor relationships, enhancing market traction, and adopting sustainable practices can collectively overcome these innovative startups' funding challenges.

Date of Award	2025
Original language	American English
Awarding Institution	HBKU College of Islamic Studies