Inirecent years, there has been a global surgeiin the establishment of startups, particularly in the Data and Analytics industry. The advent of technology and digital platforms has resulted in the generation of vast volumes of data, sparking considerable interest in analytics across various domains and contexts. This attention is motivated by the potential benefits that data and analytics can offer to diverse stakeholders in society. However, startups, like other businesses, face substantial risks and resource demands. Consequently, many startups seek external investments to scale up their operations. This raises the fundamental question: What factors influence investors' decisions to fund startups in the Data Analytics Industry? Drawing upon the extensive literature on entrepreneurial characteristics, this study highlights significant research on entrepreneurial humanicapital, entrepreneurial socialicapital, and the moderating effect of gender. The findings highlight the significance of entrepreneurial characteristics in fundraising performance, although the level of importance varies, with gender playing a significant role in moderating fundraising outcomes.
Theeprimary objective of this study is to explore the influenceiof entrepreneurial characteristicsion investors' decision-making processes across various aspects and to compare their relative importance. This analysis enables startup founders to identify the criteria that carry the most weight in investor concerns, empowering them to better prepare and strategize for fundraising. The empirical results, derived from an extensive data analysis of the American Crunchbase database, consisting of a novel dataset of over 500 startups in the Data Analytics industry currently in the Series A funding stage, strongly confirm our hypotheses.

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