Factors affecting Adoption of New Technology and Innovations: A quantitative study of Startups in India

Abstract

This quantitative study endeavours to discern the determinants which influence the assimilation of novel technology and ground breaking advancements in nascent companies within India. The methodology employed for the inquiry involves a survey technique that effectively gathers information from a representative sample of data from ascent enterprises operating within a broad range of industries spanning across the Indian landscape. To scrutinize the data collected, the study utilizes descriptive statistics, factor analysis, and regression analysis techniques. The discoveries from the investigation divulged that sundry element, such as the perceived practicality of the novel technology, simplicity of employment, compatibility with pre-existing technologies, and perceived advantages, had a momentous influence on the assimilation of ground breaking technology and innovations by nascent businesses. On the contrary, elements such as expenditure, paucity of adroit human resources, and regulatory and juridical obstructions were perceived to be consequential hindrances to the acceptance of pioneering technology and innovations by nascent businesses in India. The study provides insights into the factors that influence the adoption of new technology and innovations by startups in India. The findings of this study could help policymakers, industry experts, and startup entrepreneurs in developing strategies to overcome the barriers to technology adoption and to promote innovation in the startup ecosystem.