Despite the extensive literature on the start-up, an understanding of the main factors influencing innovative performances is still lacking. Our research adds to these previous works by conducting a literature review of the main factors that intervene, at multiple levels, to improve or reduce start-up performances. The study is based on a comparison of 133 articles in the innovation management field and follow the Tranfield methodology. Results highlights a multilevel nature of the various factors that affect start-up performances. The first level explores the main factors affecting performances within the organizational boundaries (Firm Level). The other three levels (Network, Competitive, Macro environment) show that the external environment can positively or negatively affects start-ups performances. The review reveals differences among the solutions adopted in each level summarizing the current state of affairs.