The five factors determining the success rate for obtaining funding for a startup:
Innovativeness of the project
How original a startup is. The innovation can be in the nature of an offer (a totally new product), technical (a novel production process), marketing (new business model) and/or a geographical innovation (copycat in a new market).
Complementarity in skill sets
How much the skill sets of the various team members complement each other. The more variety there is in the team’s capabilities, the easier it is for the startup to perform well in different aspects of its activities (product development, go-to-market strategy, etc.).
Influence in the press and social media
How many followers a startup has on social media and how many mentions in the press (different thresholds apply to different maturity stages and sectors).
Speed of execution
How fast a startup can bring a product to market. This can be affected by the skills of the team members as well as the regulatory environment or even the complexity of the product.
Financial management skills
How experienced and skilled the team is in managing and monitoring the company’s finances.
Source: EarlyMetrics – Whitepaper – Valuing Brilliance: A guide to fair startup valuation (Analysis of impactful qualitative criteria, based on 469 startups and 180 funding rounds)