Open Access Article

Title: Critical success factors for technology-based startups

Authors: José Santisteban; David Mauricio; Orestes Cachay

Addresses: Department of Computer Science, Universidad Nacional Mayor de San Marcos, Calle Germán Amézaga 375, Ciudad Universitaria, Lima 01, Peru ' Department of Computer Science, Universidad Nacional Mayor de San Marcos, Calle Germán Amézaga 375, Ciudad Universitaria, Lima 01, Peru ' Faculty of Industrial Engineering, Universidad Nacional Mayor de San Marcos, Calle Germán Amézaga 375, Ciudad Universitaria, Lima 01, Peru

Abstract: Technology-based startups (TBSs) significantly contribute to the generation of jobs and economic development; therefore, the success of these companies should be guaranteed. However, despite their importance, TBSs have a high failure rate worldwide. The objective of this study is to identify CSFs for TBSs based on the analysis of the information systems theory, as well as theories on human, social, and organisational behaviour. This descriptive empirical study performed a simple correspondence analysis of the perceptions of 125 CEOs of TBSs located in Peru using student's t-test. The following effects were identified: technological surveillance → knowledge absorptive capacity, knowledge absorptive capacity → perceived performance of a product and/or service, knowledge absorptive capacity → dynamic capability, knowledge absorptive capacity → innovative and entrepreneurial culture, the perceived performance of a product and/or service → customer satisfaction, and the quality of a product and/or service → customer satisfaction. The results of the simple correspondence analysis showed that all identified relationships were valid using student's t-test at a 95% confidence level, with a high or very high effect, except for the impact of knowledge absorptive capacity on the innovative and entrepreneurial culture. This study identified ten CSFs for TBSs.

Keywords: technology-based startup; TBS; critical success factors; CSFs; IT startup; new technology-based firm; entrepreneurship.

DOI: 10.1504/IJESB.2021.114266

International Journal of Entrepreneurship and Small Business, 2021 Vol.42 No.4, pp.397 - 421

Received: 02 Jun 2020
Accepted: 16 Jul 2020

Published online: 12 Apr 2021 *