TECHNOLOGY-DRIVEN ENTREPRENEURSHIP: EXPLORING THE RISE OF TECH STARTUPS IN THE 21ST CENTURY

Abstract

The 21st century has mainly witnessed a huge exponential rise in technology-driven entrepreneurship, with tech startups emerging as one of the powerful catalysts of the process of innovation, job creation, and economic transformation. This study examines the fundamental drivers behind the proliferation of technology-based startups, analysing the socio-economic, technological, and policy-related factors that influence their development. Using a mixed-techniques approach, they study the international startup developments, funding patterns, and case research from leading startup ecosystems. The research unearths that improvements in digital infrastructure, full-size internet penetration, and evolving customer behaviour have improved the emergence of era startups. Additionally, the democratisation of equipment and access to international markets has empowered entrepreneurs to innovate with minimal assets. However, challenges, which include regulatory constraints, funding obstacles, and marketplace competition, continue to be vast. The study concludes with coverage and strategic suggestions to support the sustainable growth of tech startups globally.
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