| Abstract [eng] |
Technology-based startups are companies that aim to develop high-tech and innovative products in a very short time due to aggressively growing competitors and market changes. Therefore, the entrepreneurs of technology-based startups are actively developing new ideas, trying to identify opportunities and test them as quickly as possible. They are seen as a driving force for economic growth. Because opportunity identification is mentioned as a key and unique component of entrepreneurship and given the growth of entrepreneurship (intensive startup growth) and its role today, it is important to understand how opportunities are identified and how individual differences between entrepreneurs affect opportunity identification. The object of the paper – opportunity identification in startup growth. The purpose of the study – to reveal how the founders of technology-based startups identify opportunities in the growth of the startup. Tasks of the study: 1. Describe technology-based startups and the impact of their growth on the economy. 2. Investigate the theoretical aspects of identifying opportunities in the growth of startups. 3. Substantiate the methodology to conduct an empirical study. 4. Conduct a study of technology-based startups to reveal how entrepreneurs identify opportunities in the startup growth and provide recommendations. Methods: the analysis of scientific literature was performed by systematizing the scientific works of other authors based on comparative and logical methods. Empirical research is carried out using the method of qualitative research - case studies, which use semi-structured interviews. MAXQDA text coding program is used for qualitative data processing. Results: based on the analysis of the scientific literature, a conceptual model reflecting the manifestation and identification of opportunity in technology-based startup growth phases was formed. An empirical study, using a semi-structured interview, was conducted from entrepreneurs whose startups are based in information technology and located in Lithuania. Transcripts were analyzed using the MAXQDA text encoding program. Research has shown that all the entrepreneurs analyzed are different personalities, and in the absence of information saturation, due to the limitations of rubbing, each case analyzed is interpreted individually. An entrepreneur “A” discovers opportunities driven by curiosity and through specific knowledge that helps create an innovative product that sells itself. Entrepreneur “B” recognizes opportunities to lead to passion achievements. Vigilance for information and the formation of a strong social network enables him to recognize the product demand in the market faster. Entrepreneur “C” also recognizes opportunities, but his driving force is experience and constant experimentation in developing ideas and presenting the product in its early stages to the consumer so that the feedback received helps to purposefully identify the potential of the developed product to be successfully marketed. The results show that differences in personality traits are important to entrepreneurs, as differences in the way entrepreneurs search, analyze, and interpret the information needed to identify opportunities differently, which ultimately helps to create a variety of products and services in the marketplace. The main problems faced by the entrepreneurs of startups in the field of information technologies established in Lithuania in the early phase of startup growth. This is a lack of human resources and competencies such as strategy, sales, marketing and management. |
