Abstract

This article aims to compare the process of setting up technological companies with traditional ones and to identify the features of the process used by the first group. A model dividing the creation process into four stages (initiation, preparation, launch and consolidation) was designed and used as a framework for analysis. Two questionnaires were completed by 192 entrepreneurs of new companies, with 77 technological companies and 115 traditional ones represented. The results of the comparison between the two groups indicate that the process of creation from technology companies has certain peculiarities, more specifically that: (i) the access to financial resources as well as financial management constitute a big challenge to technological entrepreneurs, (ii) technological entrepreneurs need to develop their competences in management and commercialization, (iii) the process of creation of technological companies is longer and harder than that of traditional ones, (iv)market analysis represents a challenge for technological entrepreneurs; (v) there is a significant difference between the process of creation of the different groups of technological companies. These differences need to be considered when planning future research and subsidizing future entrepreneurs.

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