Wed, 04. Feb 2026

Breaking the "Unicorn-or-Bust" Narrative

Anna Pröpper Successfully Defends Dissertation on the "Startup Zoo"

We are thrilled to announce that Anna Pröpper has successfully defended her doctoral thesis at the Faculty of Computer Science, University of Duisburg-Essen.

Originally starting her research under Prof. Dr. Tobias Kollmann, Anna Pröpper completed her journey under the supervision of Prof. Dr. Hannes Rothe. 

Her work represents a new intersection of Psychology and Entrepreneurship, challenging the dominant Silicon Valley narrative that every startup must strive to be a "Unicorn".

Beyond the Unicorn: A New Typology


Anna’s research, drawing on data from nearly 2,000 founders, introduces a fascinating new typology: The Startup Zoo. By analyzing founder ambitions—specifically regarding growth, ownership, and the balance between cooperation and competition—Anna identifies four distinct "animals" in the entrepreneurial ecosystem. She thereby revisits existing typologies by reframing them not on past behavior alone, but on the ambitions of individual leaders, here founders.

The Unicorn: Driven by exponential growth and high competition; typically investor-funded, competitors are there to compete with.

The Horse: Achieves high growth similar to the Unicorn but prioritizes social cooperation over aggressive market "sharpness."

The Cow: Focuses on production, revenue, and sustainable ownership rather than a quick exit.

The Zebra: Prioritizes long-term linear growth and sustainable ownership in markets where cooperation is vital.

Why the "Startup Zoo" Matters
The core takeaway of Anna’s dissertation is a warning to investors and ecosystem builders: stop forcing "Cows" and "Horses" to wear fake horns. Anna’s findings suggest that when cooperative founders are forced into hyper-competitive, growth-at-all-costs models, it often leads to venture failure and a loss of economic diversity.

Continued Impact and Research

Anna’s work is already influencing the academic discourse on digital entrepreneurship and sustainable transformation. For those interested in a deeper dive into the data and methodology behind this typology, her research is detailed in the following publication:

Reference: Kollmann, T., & Pröpper, A. (2025). The Startup-Zoo: A Typology of Startups Based on the Ambitions of Their Founders. International Journal of Business, 14(2), 38-55.