Technology Entrepreneurship: Role of Government in Enabling Startup Support Ecosystem

Abstract

With the emergence of knowledge-driven economy, entrepreneurial process turned out to be technology driven (Malerba, 2010). Drastic reduction in lifecycle of technologies, turbulence, and uncertainty forced entrepreneur to develop newer strategies. The requirement to stay competitive and survive the rapid technological changes led to the emergence of competition to develop or acquire newer technologies. Thus, the traditional entrepreneurship theory driven by market evolved to a newer knowledge-driven and technology intensive theory of entrepreneurship. Technology entrepreneurship needs to be critically defined and distinguished from mainstream entrepreneurship. It involves rigorous experimentation, catering to the nascent markets through novel products. The development of such technology-based innovations is largely affected by the support system around them which includes institutional setups.