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Studies on the factors determining recognition of business opportunities are based on partial analyses of one or more of the variables that influence that process. But economic relationships between actors are conditioned by ongoing structures of social relationships. This work uses the cognitive approach and presents an integrated study of psychological and sociological variables, and of the interactions between these variables, both of which affect the opportunity recognition stage for technology businesses. The research makes use of a method based on a case study; the work provides a dynamic model in which the key interactions that explain the technology-based opportunity recognition are: (1) the interactions between entrepreneurs with complementary backgrounds, (2) the proactive management of involvement in networks, (3) the entrepreneurial-technological alertness and (4) learning and continuous evaluation.

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This work is an attempt to respond to the following question on the basis of the individual's perception of regulative, normative and cognitive institutions: In developing economies, what institutional factors generate an entrepreneurial motivation that makes individuals desire to become entrepreneurs and what factors cause an entrepreneurial motivation that actually leads them to entrepreneurial action?Setting: We use empirical evidence from the African nation of Cape Verde for the analysis.The study was carried out on 6 of the 10 islands of the archipelago. Method:The sample of study comprises 237 people: 93 entrepreneurs and 144 individuals with different levels of desire to become an entrepreneur. We used multiple linear regression analysis to test the hypotheses.Results: Our findings show that institutional factors which generate the entrepreneurial motivation that forges an individual's desire to become an entrepreneur, and those which generate the motivation that leads him or her to actually set up his or her own business are not the same. We also find differences in the institutional factors that influence the opportunity, necessity and social components of entrepreneurial motivation. Conclusion:Theoretical implications for better understanding the factors that condition entrepreneurship in developing economies and practical implications useful for improving the planning of growth in these countries are offered.