It is commonly known in the literature that learning orientation (LO) plays a critical role in enhancing startups' performance by nurturing firms' capabilities, stimulating active learning, and generating new knowledge. Based on this, using entrepreneurship theory, this study empirically tested a theoretical research model to create business model innovation (BMI) for start-ups. Specifically, this study examines the impact of the LO on EP. Also, the study explored the mediating role of BMI in the link between LO and start-up EP. Further, the present study explored the moderating role of propensity to take risks to probe this nexus. The research design was quantitative, and cross-sectional data obtained through questionnaire survey of 421 managers of start-ups with fewer than six years of business operations in Turkey was utilized to verify the relationships. The results indicated that LO has a positive impact on EP. LO has a positive impact on BMI. BMI has a positive impact on EP. Business model innovation mediated the relationship between LO and EP. Propensity to take risk moderates the positive link between LO and BMI, such that at lower levels of propensity to take risk, the strength of the positive link is weakened. Propensity to take risk moderated the positive relationship between LO and EP, such that at higher levels of propensity to take risk, the strength of the positive relationship is further intensified. This research contributes to the existing literature on entrepreneurship and innovation by demonstrating the importance of BMI and the propensity to take risks for start-ups to attain performanceThis study aims to analyze the born global startup's internationalization process and the incubators' practices in providing resources and mechanisms to support this process, to solve (1) the problems that these companies experience in terms of the resources and mechanisms provided by the business incubators, and (2) what are business incubators contributions to the startup internationalization process. An inductive approach and qualitative methodology were adopted in this study using the multiple case study method to analyze four incubators and four born global startups incubated. Interview and document analysis were selected as data collection techniques. Findings show that four factors were identified as influencers according to the incubators and incubates perspectives (entrepreneur, networks, mentoring, credibility). These prove that incubation influences born global startup's internationalization process; however, this influence is perceived differently depending on the company's experience. This study identifies the resources and mechanisms that serve to support the strategies definition for startups' entry into international markets. Additionally, it serves as a recommendation for governmental acceleration programmes, providing an understanding that business incubators can be used as a tool to stimulate the emergence of born global startups, thus fostering the country's economy.
