Assessing Critical Success Factors for Industry 4.0-Enabled Circular Startups: A Fuzzy AHP–DEMATEL Approach

Abstract

The circular economy (CE), in conjunction with Industry 4.0 (I4.0), is an emerging trend discussed in academia and industry. Research suggests that I4.0 supports the CE, and circular startups (CSUs) are key players in advancing CE. However, there is a gap in empirical studies on I4.0-enabled CSUs (CSU4.0). This research employs a multicriteria decision-making methodology, incorporating the fuzzy analytic hierarchy process (F-AHP) and fuzzy decision-making trial and evaluation laboratory (F-DEMATEL), to explore the critical success factors (CSFs) of CSU4.0. Twenty-three CSFs were identified from the literature using the PRISMA method. F-AHP analysis identified building innovative circular business models as the most important success factor. F-DEMATEL analysis showed that access to financial resources and access to physical infrastructure are key factors for the long-term success of CSU4.0. This study aims to facilitate decision-making for entrepreneurs and policymakers by enabling a better understanding of the success factors of CSU4.0.