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Top1. Introduction
Communities should cultivate the seeds for young entrepreneurs in order to harvest employment opportunities, enhance economic development, and eventually balance the social community. Techno-entrepreneurship is the latest trend in the development of entrepreneurship that plays a very important role in driving up the entrepreneur opportunities for individual, firms, and the whole nation. Techno-entrepreneurship involves the use of technology as a platform for entrepreneur development, such as using the social media as a virtual platform for promotion, sales, and delivery of products and services (Thérin, 2007).
Technology innovations are growing very fast, and entrepreneurs should identify what technology can be converted to techno-entrepreneurship. In many cases techno-entrepreneurship play as intermediator to connect the ventures to individuals in order to ensure continued economic development, and remain as a practice for the sustainability of techno-entrepreneurship. Techno-entrepreneurship has shown a significant impact on individuals, firms, communities, and the whole nation (Laukkanen & Development, 2000).
Many of developing countries have made extensive efforts to adopt entrepreneurship to help youth to improve their living standard. Several governments in Asia like Malaysian government have adopted various initiatives to provide suitable and supportive business environment for the community to support youth to start their own ventures. Communities need comprehensive support from governments in various aspects to start-up new ventures, such as entrepreneurial readiness, entrepreneurship knowledge, training support, skills development, tools and technologies uses as a virtual platform for entrepreneurship, and techno-entrepreneurship (Halim, Ahmad, Ramayah, & Hanifah, 2017; Khalid & Seuring, 2019).
Bahrain’s entrepreneurship ecosystem is very attractive and encourages startup companies to establish and develop their own business without several complications. The Government of the Kingdom of Bahrain provides an effective support system through its institutions, which encourage the society to establish new businesses that extremely contributes to the success of the startup projects. Government institutions like Tamkeen, Injaz, Bahrain Economic Development Board (EDB), Bahrain Business Incubator Center, and many others are very supportive of startup projects and are deemed as part of the critical success factors that maintain the sustainable growth of the startup companies. The main failure factors of the startup projects are funding, financial management, technology-based issues, and marketing (Meero, Rahiman, & Rahman, 2020). The primary focus in literature was on the main failure factors of the startup projects and very few have covered the critical success factors of the startup projects. Therefore, this study will contribute to filling up this gap in the literature by shedding up light on the critical success factors of the startup projects to be a basis to conduct this study.
This study would contribute in identify the CSFs that might help the new startup projects to achieve a successful venture and maintain sustainable growth of their business. It might also encourage individuals to establish a new business and help unstable businesses to shift to a technology-based business to save cost and reach more customers to survive and stay in the market. The Bahraini government is keen to assist startup projects to grow up. This research would help in that by identifying the CSFs where governments and individuals should pay attention to that to achieve successful and growing businesses, which eventually will contribute to the country economic growth and release some burden on the government sectors (Meero et al., 2020).