Technology Innovation for SME Growth: A Perception for the Emerging Economies

Abstract

Globalization and technological transformations have triggered novel changes in both the developed and developing countries. Technology and entrepreneurship are vital tools used for national economies towards 21^st century requirement and growth. Technology based enterprises are specifically smart to policy-makers because of their higher prospective for job creation and wealth-generation through business development as well as their lower disappearance rates compared to non-technology based firms. New technologies are often developed in R&D institutions. This initiative of providing incubation facilities to transfer these new technologies to the market is adopted by all growing institutions. A comprehensive review of the literature on the Technology innovation and SME’s are carried out. This study specifically examines the drivers of technology adoption in SMEs and their impact on SMEs’ performance - profit, growth and market share. In the developed countries technology development drives the incubator movement.

Keywords: Technology business incubators, Small and Medium-sized Enterprises (SME’s), Emerging economies.