Analysis of Success Factors of Technology Based Entrepreneurs
Choong-Soo Lee
Choong-soo Lee, Department of International Logistics & Trade, Gwangju University, Gwangju, Korea.
Manuscript received on 01 January 2019 | Revised Manuscript received on 06 January 2019 | Manuscript Published on 07 April 2019 | PP: 321-326 | Volume-8 Issue- 3C January 2019 | Retrieval Number: C10720183C19/2019©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: As the need for technological start-up grows, there are more and more entrepreneurs seeking to start a business based on technology. However, many risk factors exist for technology-based start-up. In this study, we analyze the success factors suggested by successful entrepreneurs in advance, and suggest ways to increase the success rate of technology commercialization to entrepreneurs. To do this, we analyze the success factors of existing researches, derive core success factors, and propose implications by analyzing the priorities of success factors using AHP(Analytic Hierarchy Process). AHP is a very flexible decision-making method that accepts subjective and objective evaluation factors, and can be usefully applied to the weighting or importance of analytical factors by using the qualitative knowledge of experts in decision making field which is difficult to quantify. As a result of AHP analysis, success factors of start-up were relatively high in order of products and technologies, start-up environments, entrepreneur characteristics, start-up management strategies. The products and technologies sub-factors have a high priority to provide differentiation and value. We look forward to seeing steadily rising technology entrepreneurs prioritize entrepreneurial success factors that existing entrepreneurs think.
Keywords: Analytic Hierarchy Process, Technology Based Entrepreneurs, Success Factors, Start-up, Consistency Rate, Relative Weight.
Scope of the Article: Simulation Optimization and Risk Management