Factors Affecting Techno-Entrepreneurship Innovation and Growth in Developing Economies

Abstract

In many countries, entrepreneurs witnessed a considerable concern by governments and individuals due to its positive impact on individual interest in particular and the economic growth in general. Many individuals rely on government to secure a job which impose a huge burden on the government sector. The adoption of techno-entrepreneurship as a solution to create new job opportunities experienced several challenges to grow-up. However, the Critical Success Factors (CSFs) enabled many individuals to startup a new venture or transform their business effectively into the virtual platform such as social media. A survey instrument was distributed to 250 entrepreneurs effectively using technology as a platform for their venture. Out of which 204 were completed and used in the analysis which determined 81% as the overall response rate. The results of the study reveal a positive and significant relationship between the 7 CSFs and the venture success, and that also indicates a notable impact of the CSFs on the startups.