The X-Factor of Cultivating Successful Entrepreneurial Technology-Enabled Start-Ups

Abstract

In the fast changing global economic landscape, the cultivation of sustainable entrepreneurial ventures is seen as a vital mechanism that will enable businesses to introduce new innovative products to the market faster and more effectively than their competitors.This research paper investigated phenomena that may play a significant role when entrepreneurs implement creative ideas resulting in successful technology enabled start-ups within the South African market place. Constant and significant changes in technology provide several challenges for entrepreneurship. Various themes such as innovation, work experience, idea generation, education and partnership formation have been explored to assess their impact on entrepreneurship.Reflection and a design thinking approach underpinned a rigorous analysis process to distill themes from the data gathered through semi structured interviews. From the findings it was evident that the primary success influencers include the formation of partnership, iterative cycles, and certain types of education. The secondary influencers included the origination of an idea, the use of innovation. and organizational culture as well as work experience.This research illustrates how Informing Science as a transdisicpline can provide a philosophical underpinning to communicate and synthesise ideas from constituent disciplines in an attempt to create a more cohesive whole. This diverse environment, comprising people, technology, and business, requires blending different elements from across diverse fields to yield better science. With this backdrop, this preliminary study provides an important foundation for further research in the context of a developing country where entrepreneurial ventures may have a socioeconomical impact. The themes that emerged through this study could provide avenues for further research.

Terminology, traits, types, and trajectory of new product development

“…Companies with formalised interactions have a tendency for managerial bias and unidirectional flows of ideas, while in those in which the NPD procedure is elastic, the flow of information is bidirectional and socially-oriented [Felekoglu, Maier, Moultrie, 2013, p. 395]. 3.6. Success and failure A number of critical success factors can be found discussed in the NPD literature [Scott, Govender, Merwe, 2016;Cooper, 2013;Kahn et al, 2012;Bhuiyan, 2011;Barczak, Griffin, Kahn, 2009;Ernst, 2002;Flint, 2002;Goldenberg, Lehmann, Mazursky, 2001]. Although there is no guarantee of success, taking a systematic approach and caring about former pitfalls helps to mitigate the risk and increases the probability of success [Cooper, 1983, p. 10].…”

Training The Utilization Of Palm Oil Waste Supporting Village Community Economy

“…Various themes such as innovation, work experience, idea generation, education and partnership formation have been explored to assess their impact on entrepreneurship. The main influences of entrepreneurial success include the formation of partnerships, iterative cycles, and certain types of education, secondary influencers including the origin of ideas, use of innovation, organizational culture and work experience [31]. Diverse environments consisting of people, technology and business, require the mixing of different elements from various fields to produce better science.…”