Impact of Technopreneurship on Business Performance

Abstract

Technopreneurship has become a lever to propel creativity and innovation in businesses today. This study investigates the impact of technopreneurship on business performance among agro-businesses in Abeokuta, Ogun State, Nigeria. The study examined empirical evidences on the impact of technopreneurship on business performance. The survey method was adopted. The quantitative research design was employed. Yamane formula was used to determine the sample size. A sample of 126 respondents was selected through random sampling method from of a population of 183 agro-businesses within the study areas and 74% response rate was recorded. Primary method of data collection was used. A well-structured questionnaire was administered and responses were analysed using linear regression on SPSS (Statistical Package for Social Sciences) version 20. The survey demonstrates that technological innovation has significant effect on firm competitiveness (P = 0.000 < 0.05; R2 = 0.183) and also technological opportunities significantly influence on firm operational efficiency (P = 0.000 < 0.05; R2 = 0.445). Based on the results of findings, the study recommends that businesses need to develop or exploit indigenous technology; new products or processes based innovations; seek new technology ideas and significant technological changes which are key to competitiveness.