Growth Challenges of High-Tech Start-ups

Abstract

A large proportion of start-ups fail or cease to grow due to poor execution of business functions. For fructifying the agenda of economic growth through creation of new enterprises, it is important that a decent number of HTFs emerge. However, besides efforts to promote start-ups in general and hi-tech new enterprises in particular, an enabling environment would be necessary to assure that the enterprises mature, grow and become sustainable in the long run. Against this backdrop, with due importance to smooth execution of business as a precursor of growth, this study, based on responses of 48 entrepreneurs running hi-tech firms (HTFs) in start-up stage, highlights the challenges faced by them in smooth operations and execution of growth plans.