New Venture Creation: Past, Present, and Future Research

This study aims to provide a comprehensive and systematic mapping review of the literature on new venture creation (NVC), addressing the core research question: “What are the main research trends, gaps, and future directions in the field of NVC?” To achieve this, we conducted a structured search in Elsevier’s Scopus database, initially retrieving 645 articles, from which 103 relevant studies were selected through rigorous screening and citation analysis. Employing a systematic mapping review methodology, we categorized and analyzed these studies based on their levels of analysis, statistical populations, research methodologies, NVC processes, antecedents, consequences, risks, and success factors. Our primary findings reveal that existing research predominantly focuses on variable-based analyses at the meso (organizational) level, with limited integration of macro-level (ecosystem) perspectives and emerging methodologies such as machine learning and social network analysis. The study highlights significant research gaps, including the underrepresentation of developing economies and the need for longitudinal studies. Consequently, this review provides a clear roadmap for future research, emphasizing the importance of adopting integrative frameworks, exploring diverse geographical contexts, and utilizing advanced analytical methods. These insights offer valuable guidance for scholars, entrepreneurs, and policymakers aiming to foster effective entrepreneurial ecosystems and enhance new venture success.