
The 2020 Rising Star Monitor reveals that about one in two high-growth ventures are entirely internally funded. Over 90 percent of young, high-potential ventures which had not used external funding did not even apply for it. About three in four ventures do not do so because they believe they do not need it. Beyond that, entrepreneurs don’t apply for bank financing because they don’t think they have enough financial history, they see the application process for subsidies as too cumbersome, fear losing control with venture capitalists and angels, and they consider crowdfunding as too time consuming.