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Technology Based Entrepreneurship Financing. Lessons for Nigeria
Authors: Musibau Akintunde AJAGBE1 Joshua Olusola OLUJOBI, Anthony Akwawa UDUIMOH, Lawrence Uchenna OKOYE, Adunola Oluremi OKE
Number of views: 699
Technology entrepreneurship is a form of business leadership based on the process of recognizing highpotential,
technology-intensive business opportunities, gathering resources such as talent and cash, and
managing rapid growth using principled, real-time decision making skills. Technology based
entrepreneurial firms account for a substantial number of essential inventions and innovations in
successful countries. Such firms have become an integral part of the development of the global and
regional economy. However, they are often characterized by the paradigms liability of newness and
resource poverty, coupled with suffering from inadequate technical and marketing know-how,
inexperience management, inability to discover initial financing and huge overheads. In view of this,
startups in the technology sector encounter the problem of sourcing technical and financial resources and
commercialization capabilities required to take their products to market. This study adopts a secondary
approach to research methodology through the review of existing articles in this domain of investigation.
Articles are sourced from conference and journal papers from reputable database, internet sources,
brochures and newspapers. This study concludes that investment and financial decisions play an
increasing vital role in economic growth and entrepreneurial new venture creation. Hence, investment
and financial policies are part of the main operational resolutions in emerging nations to support
investment by domestic firms, particularly technology entrepreneurial firms. Hence, policy makers in
Nigeria and other developing countries could evolve ambitious policy framework aimed at developing the
equity financing sector through venture capital, particularly for technology entrepreneurs. Also they could build substantial amount of skilled and experienced venture capitalists to identify high potential
investments opportunities and be able to nurture and support them to an exit.