“…Indeed, the primary reasons of capitalists for enterprising of startups are such as for their self-realization to own a business, for relishing independence in business decision making, for economic reliance, for recognition and status in the society, and for demonstrating capabilities of employing the innovations and building of large establishments or corporations (Lasso, Mainardes, & Motoki, 2017). Eventually, the investment of startup industrialists has depended on their personal experiences as financiers of enterprises and their social relationships with all stakeholders in the industry as well as their qualitative evaluations of firms operating in the market (Okafor & Shaibu, 2016;Bugu & Yucheng, 2018;Zhong, Liu, Zhong, & Xiong, 2018).…”