Research On The Influencing Factors And Mechanism Of Entrepreneurial Opportunity Identification For S&T Start-ups

The world today is undergoing profound changes unseen in a century,which is pregnant with a new round of scientific and technological revolution and industrial transformation.Although China's development is still in a period of strategic opportunities,it will face greater instability and uncertainty.In such a context,science and technology entrepreneurship has become a symbol of China's economic transformation and development.Therefore,it is of great significance and theoretical value to study technology-based start-ups.Different from non-tech-based start-ups or mature enterprises,S&T start-ups generally rely on core entrepreneurs or even embody the will of entrepreneurs.The characteristics of the entrepreneurs,previous experience of the entrepreneurs and the entrepreneur network have a profound influence on entrepreneurial activities.In addition,the market environment faced by S&T start-ups is turbulent.Factors like changes in market and uncertainties in technological innovation place higher demands on entrepreneurs.Based on the characteristics of technology-based start-ups,the author attempts to explore the identification of entrepreneurial opportunities in S&T start-ups from the perspective of individual entrepreneurs.Identifying possible opportunities marks the beginning of the whole process of technological entrepreneurship.In other words,the whole process of starting a business starts with possible entrepreneurial opportunities.Why are some people able to identify these opportunities while others fail to do so?It can be seen that there are some differences among entrepreneurs in identifying opportunities in technological entrepreneurship.Therefore,the whole process of identifying possible opportunities in technological entrepreneurship is a key issue requiring much attention in the field of entrepreneurship.How do entrepreneurs identify opportunities?What are the influencing factors in this process?What's the mechanism?What is the difference between S&T start-ups and other ones in influencing factors and mechanism of opportunity identification?This series of problems have been urgent issues needed to be solved both in theory and practice.However,previous studies lack an integrated approach to explore the influencing factors and action patterns of opportunity identification,and lack a study on the influencing paths of entrepreneurial cognitive mechanism.Based on this,the author takes the entrepreneurial opportunity identification as the main line,takes the entrepreneurs of S&T start-ups(founders,co-founders and core members of start-ups)as study objects.Through the combing of social cognitive theory,entrepreneurial process theory,resource-based view,social network theory and related literature,the author puts forward a preliminary theoretical concept.And the exploratory case studies of four S&T start-ups entrepreneurs were analyzed and summarized to derive the initial propositions of individual entrepreneurial factors,entrepreneurial cognitive processing and entrepreneurial opportunity identification of S&T start-ups.Based on the exploratory case study,the questionnaire design and research were further combined with realistic background and theoretical derivation.Data analysis was conducted through SPSS21.0?AMOS24.0 and other statistical analysis tools.The author attempts to investigate the antecedent variables and influencing mechanism of the identification of opportunities to start S&T enterprises,and make a comparation between samples of technology-based and non-tech-based entrepreneurship,and explain the factors and mechanisms for entrepreneurs of S&T start-ups to succeed to identify more valuable opportunities to start S&T enterprises.Specifically,the author has done research in the following aspects:Firstly,literature review and theory development.The literature on individual entrepreneurial factors,entrepreneurial cognition and entrepreneurial opportunity identification is reviewed to identify the gaps in existing research.The theoretical lineage related to the framework of this study is sorted out,and the connotations and dimensions of each variable are analyzed and summarized,which lays the foundation for developing the analysis later on.Secondly,exploratory case studies and theoretical model.Through intra-case analysis and comparative research among multiple cases,this paper preliminarily constructs the mechanism model of the effect of entrepreneur's individual factors on the entrepreneurial opportunity identification of S&T start-ups through the autonomous entrepreneurial learning and entrepreneurial self-efficacy,which provides a practical framework for further research.Thirdly,theoretical model and empirical research of the mechanism of the role of individual entrepreneur factors on the identification of entrepreneurial opportunities in S&T start-ups.Based on exploratory case study,this paper makes a further theoretical discussion on the relevant literature,and puts forward the conceptual model and corresponding refined hypotheses of "entrepreneurial opportunity identification of S&T start-ups:based on the multiple mediating effect and chain mediating effect of autonomous entrepreneurial learning and entrepreneurial self-efficacy".Through descriptive statistical analysis,reliability and validity test,correlation and multiple regression analysis and other statistical analysis methods,345 valid questionnaires were quantitatively studied.Finally,the relevant hypotheses were tested and the conclusion was drawn.Fourthly,the impact of environmental dynamics on the relationship between entrepreneur's individual factors and entrepreneurial opportunity identification of S&T start-ups.On the basis of the aforementioned mechanism model,the moderation and moderated mediation role of environmental dynamics is explored in depth with environmental dynamics as the moderating variable.The moderated effect model was validated by questionnaire,using multiple linear regression analysis,process and other methods.Fifthly,comparing the identification of technology-based and non-technology-based entrepreneurial opportunities.In order to explore the similarities and differences of influencing factors and mechanisms of entrepreneurial opportunity identification between technology-based and non-technological start-ups,this study conducted a supplementary study.Based on a survey of 350 non technological samples,we found the unique cognitive processing process of technology entrepreneurs.Based on the above research and demonstration work,this study mainly draws the following conclusions:Firstly,the characteristics of entrepreneurs(achievement demand,risk taking,internal controller),previous experience of entrepreneurs(entrepreneurial experience,job experience)and entrepreneurs' network(network strength)have a profound positive influence on the opportunity identification to start a S&T enterprise.Entrepreneurs'characteristics are the source of unique resources of S&T start-ups.Differences in previous experience of entrepreneurs help understand different entrepreneurs'identification of different opportunities in a similar context.Entrepreneurs' network strength aggregates and integrates market information,eliminates "new defects",increases credibility and reduces information asymmetry,thereby identifying opportunities to start S&T enterprises.The scale of entrepreneurs' network is significant in the regression analysis of entrepreneurial opportunity identification for S&T start-ups alone;but it is not significant in the integrated model.The results show that although the scale of the entrepreneur's network is of importance,its effect is not prominent in the overall model of the identification of entrepreneurial opportunities for technology-based start-ups.Instead,other factors of individual entrepreneurs are of more importance.Studies on the antecedents of entrepreneurial opportunity identification to start a S&T enterprise have enriched entrepreneurs-centered entrepreneurial researches,and highlight the core role that entrepreneurs play as S&T start-ups grow.Secondly,autonomous entrepreneurial learning/entrepreneurial self-efficacy plays a multiple mediating effect and chain mediating effect.It is found that there are three paths of entrepreneurial cognitive process that affect the identification of entrepreneurial opportunities of S&T start-ups.Autonomous entrepreneurial learning and entrepreneurial self-efficacy can separately act on the identification of entrepreneurial opportunities of S&T start-ups,and autonomous entrepreneurial learning can also affect the identification of entrepreneurial opportunities of S&T start-ups by enhancing entrepreneurial self-efficacy.Specifically,entrepreneurs' achievement demand,internal controller,entrepreneurial experience,job experience and network strength play their own unique advantages through the multiple mediating effect of autonomous entrepreneurial learning and entrepreneurial self-efficacy,which is conducive to the identification of entrepreneurial opportunities of S&T start-ups.Autonomous entrepreneurial learning and entrepreneurial self-efficacy help explain a series of things:based on the entrepreneurial process theory,resource-based view and social network theory,how individual factors of entrepreneurs internalize,affect entrepreneurial opportunity identification to start S&T enterprises,integrate scattered variables into a framework,and play an important role in linking the framework of entrepreneurial opportunity identification to start S&T enterprises.Thirdly,environmental dynamism positively moderates the relationship between autonomous entrepreneurial learning/entrepreneurial self-efficacy and entrepreneurial opportunity recognition of S&T start-ups,and environmental dynamics plays a moderated mediating role.When the environment is highly dynamic,or there are significant technological progress or great changes in customer preferences,entrepreneurs' sense of autonomous entrepreneurial learning and the role of entrepreneurial self-efficacy will be stimulated.Entrepreneurs are likely to identify opportunities only if they stay confident and keep learning.In addition,environmental dynamism also plays the role as a moderated mediation.When environment is on a medium-high dynamic level,the influence of characteristics of entrepreneurs(achievement demand,risk taking,internal controller),previous experience of entrepreneurs(entrepreneurial experience,job experience)and entrepreneurs' network(network strength)on the identification of opportunities to start a S&T enterprise through autonomous entrepreneurial learning or entrepreneurial self-efficacy becomes stronger.In other words,the volatile environment reveals the value of the model of the identification of opportunities to start S&T enterprises in this study to a larger extent.Particularly,in the context of volatile external environment caused by trade frictions,this study has a certain reference value for entrepreneurs and policy makers.Fourthly,comparing the identification of non-technology-based and technology-based entrepreneurial opportunities and verifying the special mechanism of identifying entrepreneurial opportunities for S&T start-ups.Specifically,technology-based entrepreneurs are young,mostly with higher education levels,and those with scientific,medical,and agricultural backgrounds are more helpful in identifying technology-based entrepreneurial opportunities.Non-technological entrepreneurs make far less use of individual factors than technological entrepreneurs.Individual factors of non-technology entrepreneurs mostly rely on the mediating role of entrepreneurial self-efficacy to influence entrepreneurial opportunity identification.On the other hand,technological entrepreneurs make full use of the dual intermediary channels of autonomous entrepreneurial learning and entrepreneurial self-efficacy to fully transform individual advantages into advantages for the identification of entrepreneurial opportunity.In addition,technological entrepreneurs pay more attention to autonomous entrepreneurial learning,while non-tech entrepreneurs spend little time on autonomous entrepreneurial learning,because they may start businesses in fields that are updated slowly or not challenging enough.Environmental dynamism exerts a moderating effect on entrepreneurial activities,but it only modulates the mediating role of autonomous learning in technology entrepreneurship.This underscores that bigger changes inspire technological entrepreneurs to learn more;therefore,the strength of individual factors can be maximized,contributing to entrepreneurial opportunity identification.In short,results of the comparative study show the unique mechanism of the entrepreneurial opportunity identification for S&T start-ups.It is precisely because of the characteristics of technology-based entrepreneurship that demand more of entrepreneurs and underscore the importance of enhancing autonomous entrepreneurial learning and entrepreneurial self-efficacy for technology-based entrepreneurship.This comparative study provide new ideas and findings for subsequent relevant research.The innovative points lie in the following five aspects:Firstly,the paper proposes that entrepreneurial opportunities have the characteristics of "discovery" and"construction",and it needs to give full play to the initiative of entrepreneurs to identify them.The definition and connotation of entrepreneurial opportunity identification are clarified,and an integrated model of entrepreneurial opportunity identification for S&T start-ups is constructed on this basis.It makes up for the deviation caused by single theory and single perspective;Secondly,proposing and verifying the individual antecedents of entrepreneurial opportunity identification for S&T start-ups.This paper systematically explores the joint effects of entrepreneur characteristics,previous experience and entrepreneur network on entrepreneurial opportunity identification of S&T start-ups.It enriches the entrepreneurial research centered on entrepreneurs and highlights the core role of entrepreneurs in the growth of S&T start-ups;Thirdly,defining and verifying the multiple mediating effect and chain mediating effect of autonomous entrepreneurial learning and entrepreneurial self-efficacy,and founding the cognitive processing path of entrepreneurial opportunity recognition of S&T start-ups;Fourthly,expanding the research on entrepreneurial opportunities,and verifying the moderating effect and boundary conditions of environmental dynamism.It emphasizes the positive moderating effect of environmental dynamics on the path of autonomous entrepreneurial learning and entrepreneurial self-efficacy;Fifthly,verifying the special mechanism of entrepreneurial opportunity identification for S&T start-ups through a comparative study,it highlights the value of autonomous entrepreneurial learning in the identification of entrepreneurial opportunities of S&T start-ups.In a word,S&T start-ups have great social and economic value.This study aims to construct a model of the entrepreneurial opportunity identification of S&T start-ups for scholars and entrepreneurs.From the perspective of policy makers or entrepreneurs,the research model of this study can be regarded as containing valuable guidance or reference for their future decisions;From the perspective of scholars in related fields,this study enhances the explanatory power of individual entrepreneurs on entrepreneurial activities,verifies the influencing mechanism of the identification of technological entrepreneurship opportunities,attempts to explain the differences from previous researches,enriches entrepreneurial research,and provides a framework for subsequent research.