Asian Journal of Economics, Business and Accounting

Aims: It aims to build and verify the theoretical model among the network of relationships, business model innovation and start-up performance of start-up companies.

Methodology: The study employed qualitative and quantitative methods of research in 550 start-up firms in Vietnam. The qualitative method is utilised to adjust and complement the scale (interviews with experts). Utilising the PLS-SEM analysis method with the SmartPLS support tool, the quantitative method is used to assess reliability, permissibility, model testing, and research hypotheses.

Results: Start-up firms' relationship network (with government officials, social contacts, and business partners) has a beneficial effect on their performance. Relations with government officials benefit value creation, value proposition, and value capture innovation. Social relationships have a positive impact on value proposition innovation. Relationships with business partners contribute to the creation of value and the innovation of new products and services. Business model innovation can have a sizable impact on the performance of a start-up. Finally, environmental dynamism has no regulatory effect on the innovation of business models or the performance of start-up firms.

Conclusion: This study has filled theoretical gaps by confirming the results of prior studies that had questioned the connection between the network of relationships, business model innovation, and start-up performance. The findings propose management solutions for start-ups' owners and senior managers, policymakers, and official government entities.

Retraction Notice: This paper has been retracted from the journal after receipt of written complains. This journal is determined to promote integrity in research publication. This retraction is in spirit of the same. After formal procedures editor(s) and publisher have retracted this paper on 10^th July-2021. Related policy is available here: https://tinyurl.com/ajebaretraction