They ask the organizations to employ executives that have built businesses from the scratch and have been successful to generate returns for the investors. The promoter of the start-ups are asked to provide a list of qualified and experienced candidates who have been playing roles that are central to the development of the companies. Their condition had been that the business lacking in talent amongst their managers must be willing to hire them from the outside. It is convincing to the investors to finance the business as IT is one of the most profitable and global lines of business. The investors have a tendency to fund product and services that are indispensible to the target customers. This is because these products generate competitive advantage in the market.
It is clear now that the firms have been involved in the endeavour of the entrepreneurship by registering increased profitability and growth compared to the firms not attempting to engage themselves in the activities of intrapreneurship. It can be concluded that there is positive relationship between the firms engaged in the activities of entrepreneurship and the profitability and growth of the organizations. There is an existence of positive relationship between the performance and the entrepreneurial orientation. There have also been studies that have found positive relationship between the activities of Corporate Entrepreneurship and the performance of the organization. Lastly, convincing a venture capitalist is critical for Startup Company, which requires certain conditions such as credible management, products and services that have sufficient market opportunities and experiences of the management that are relevant to the products and services in question.
The barriers and enablers of entrepreneurship in the context of IT startup firms are discussed at length along with the ways of reducing the barriers. The analysis of such barriers and enablers has been done with respect to process, people, and structure of the company as well as resources of the entrepreneurship in the IT startups. The business development, innovation, organizational culture, idea generation, simple structure, and the role of the venture capitalists for the IT startups are discussed comprehensively in this paper.
The study recommends bidding process in freelancing websites as the primary business development approach for the IT startups. The culture must not represent a dictatorial style of leadership, but should encourage the employees to provide constructive criticism. The brainstorming sessions must be a regular feature in the organization so that innovative ideas are generated. The decisions must be taken based on the analysis and evaluation by the top leadership instead of intuition. The venture capitalists must be approached even at the cost of heeding to their suggestions related to the management.
The limitation of this study is that it is conducted only in London. Therefore, it might not represent the opinions of the entire country. Additionally, a sample of 50 participants might not be enough to provide a clear indication of the views of the entrepreneurs and the other stakeholders. A larger sample size might have provided a more accurate result.