Abstract
Technology-based startups (TBSs) significantly contribute to the generation of jobs and economic development; therefore, the success of these companies should be guaranteed. However, despite their importance, TBSs have a high failure rate worldwide. The objective of this study is to identify CSFs for TBSs based on the analysis of the information systems theory, as well as theories on human, social, and organisational behaviour. This descriptive empirical study performed a simple correspondence analysis of the perceptions of 125 CEOs of TBSs located in Peru using student's t-test. The following effects were identified: technological surveillance → knowledge absorptive capacity, knowledge absorptive capacity → perceived performance of a product and/or service, knowledge absorptive capacity → dynamic capability, knowledge absorptive capacity → innovative and entrepreneurial culture, the perceived performance of a product and/or service → customer satisfaction, and the quality of a product and/or service → customer satisfaction. The results of the simple correspondence analysis showed that all identified relationships were valid using student's t-test at a 95% confidence level, with a high or very high effect, except for the impact of knowledge absorptive capacity on the innovative and entrepreneurial culture. This study identified ten CSFs for TBSs.
Highlights
Many readers associate Peru with its history and the Incas (Dana, 1988)
This study identified ten critical success factors (CSFs) for Technology-based startups (TBSs): technological surveillance, knowledge absorptive capacity, the perceived performance of a product and/or service, the quality of a product and/or service, customer satisfaction, staged financing, the support of a business incubator, innovation and entrepreneurship ecosystem, the dynamic capability of the entrepreneurial team, and innovative and entrepreneurial culture
The survey considered the effect of CSFs in each stage of business development, which is the subject of another study
Summary
Many readers associate Peru with its history and the Incas (Dana, 1988). The end of the 1980s Peru was submerged in economic crisis (Nishimura and Tristán, 2011). In the 1990s, as a result of a stable economy, companies formed by one person grow in Peru (Chaston and Scott, 2012). According to the Central Reserve Bank of Peru the 60% of production is done informally, 40% of the labour force work is self-employed in informal micro-enterprises (Dana and Mallet, 2014). According to the Global Entrpreneurship Monitor Report (2017) Peru ranked first in the entrepreneurial spirit index in Latin America (Serida et al, 2017), and in 2019 Peru was the fifth country with the most entrepreneurs worldwide
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