In Search Of Factors Affecting The Performance Of Technology-based Start-ups

The significant role of technology-based new ventures in economic and social development has encouraged practitioners and researchers to search for the factors affecting new venture performance. In particular, in response to the ongoing policy of developing China's independent capacity for innovation, the study has a rather practical and theoretical implication.Most of the previous researches in the 20^th century have studied the entrepreneurship in western countries, while little empirical research has addressed the entrepreneurship in oriental countries. Factors affecting new venture performance have been a hot topic in the field of entrepreneurship study, however, existing literature lacks comprehensive empirical study. In China, there emerged a great number of entrepreneurs in the last over twenty years, in spite of that, entrepreneurship research is still at the initial phase, and few of the research was conducted normatively and extensively. It lacks empirical study on factors affecting the performance of technology-based start-ups founded by Overseas Chinese Returnees. Because of the lacks of studies in this field and the requirements of practice, this study focuses on exploring the main factors affecting the technology-based start-up performance.Based on the existing theory in entrepreneurship, this study developed a questionnaire upon factors affecting the start-up performance. In this study, a comprehensive conceptual model of technology-based start-up performance is developed to investigate the combined effect of entrepreneurship, resources and capabilities, strategy and perceived environment on the personal and organisational performance. To test the model, data from 139 technology-based start-ups founded by Overseas Chinese Returnees were analyzed. In testing the hypotheses, several approaches are adopted including Pearson correlation analysis, multi-regression analysis. This study's key results show that:Entrepreneur's risk-taking and hardworking have a strong positive influence onstart-up performance in terms of development potential.Potential entrepreneurial capabilities have a strong positive influence on start-upperformance in terms of personal competence and attractiveness to talentedemployees.Environmental adaptability has a strong positive influence on start-upperformance in terms of objective realisation.Strategic alliance has a strong positive influence on start-up performance in termsof development potential, personal competence and attractiveness to talentedemployees as well.Business planning sophistication has a strong positive influence on start-upperformance in terms of development potential.Market-oriented strategy has a strong positive influence on start-up performancein terms of objective realisation, development potential, personal competence and...