Technological Entrepreneurship: Success Factors as Perceived by Potential Young Entrepreneurs

Abstract

This research paper aims to propose and empirically test a theoretical model, positing relationships among entrepreneur, technology and resources. The applied methodology was completing a questionnaire survey by a random sample of undergraduate management and engineering students across five Romanian faculties. The results were based on structural equation modeling analysis. Results provide strong support for the proposition that the success of a good business idea strongly depends on some factors, including the capabilities of an entrepreneur, on the technology used to implement the idea and on the necessary resources. The paper demonstrates that the success of an idea in technological entrepreneurship, based on the potential young entrepreneurs point of view is influenced by the characteristics of the young entrepreneur, by his capabilities and his knowledge. The success is also influenced in some proportions by the innovation of technology, its development and globalization. The third category of the success factors is resources, which includes temporal resources, material resources, financial resources and informational resources. The conclusion of this research is that the most important factor for a successful business idea is the entrepreneur.

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