Knowledge Is Power

Insights Into Growth

Welcome to Kode's Growth Study

For the third year in a row, Kode is conducting research into growth companies. Each year, we examine which factors are important for the success of businesses. In 2022, we investigated startup ecosystems, and in 2023, we looked at success factors in early-stage companies. This year, we are wondering which elements are important for a company's growth and whether they are the same in every phase. Is having a clear mission and vision truly crucial? How important is leadership? Or is good financial management the key?

In this way, we aim to contribute to the understanding of what is important for building businesses. All our research is freely available on our website. At the bottom of this page, you can download the reports from previous studies.


2024 - Success Factors of Growth Companies

Our research this year focuses on growth companies. Whereas in previous years we mainly focused on startups, this year we are interested in a broader group of companies. We want to know which elements of a company contribute most to success and where companies themselves place the most focus.

For this purpose, we use our company assessment. This is a questionnaire where we want to gather some data about the company, and we ask you to score your company on 9 aspects, from leadership to legal & compliance. It typically takes just under 30 minutes to complete the questionnaire.

As a token of appreciation, you will receive a report in your inbox showing how your company compares to others, in which growth phase you are, and which aspects should receive attention to continue growing. Additionally, we will of course send you the research when we publish it at the end of the summer.

We handle your data carefully. For our research, we only use aggregated data. Your data will only be used to generate your personal report. It will not be shared with third parties. Please see our privacy policy for more information.

We hope you will participate in this research. Thank you in advance.


2023 - Success Factors for Early-Stage Startups

For this report, we approached founders of tech startups. We reached out to a sample of 1,000 leaders, and 104 participated in our survey. We interviewed them about 13 common success factors. Based on the data, we examined the relationship between these factors and the performance of these companies in terms of survival, development, valuation, and revenue.


  • Startups with a strong customer focus have 100% more revenue and a 62% higher valuation compared to companies showing less focus. 
  • Founders with experience as corporate executives raise 28% more funding compared to repeat founders but perform 5% worse. The founder's personality matters. The ability to adapt, share, and ask for help has more than 10 times the impact on valuation, revenue, and growth than experience. More than just good individuals, the right combination of people is what matters. 
  • Diverse teams are valued higher (+48%), grow faster (72%), and earn more money (81%). 
  • Startups that utilize external help perform significantly better (+88% valuation, 55% more revenue). Involving investors, formal advisors, and customers aids success. 
  • Valuation alone is not a great indicator of success; it is a good indicator of the amount of funding raised.

2022 - The Effectiveness of Start Ecosystems

For this report, we approached founders of tech startups. We reached out to a sample of 1,000 leaders, and 176 participated in our survey. We asked them about the assistance they received in the past 12 months, their priorities for the coming year, and where they need help. Based on performance data, we examined the relationship between the assistance companies received and the success of their business.


  • Tech startups are international. 20% of the companies have a non-Dutch founder. Only 12% of the founders are women. 
  • Startups do not grow in isolation. 86% of all startups have utilized external assistance in the past 12 months. T
  • he ecosystem needs to evolve as startups grow. Ecosystems must adapt. Startups using external operational support perform significantly better. 
  • Startups from acceleration programs have 55% less revenue and 18% less growth. 
  • University startups fail 21% more often than other startups in the Seed phase.