Non-Financial Support Needs of Tech Start-ups to Minimise Risk of Failure

Abstract

Tech start-ups have various needs, both financial and non-financial. Like financial support, non-financial support needs contribute to the success of tech startups. It is crucial to understand the tech start-ups’ non-financial needs. A qualitative study was conducted with eight digital entrepreneurs (DEs) of tech start-ups in South Africa. The study aimed at investigating the different non-financial support needs tech start-ups have and the non-financial support they have received. Virtual semi-structured interviews were conducted with the DEs to understand the non-financial support they received and wish to receive. Non-financial support needs were identified, including branding, legal, access to market, mentoring, coaching, advisory support, and access to incubators and technology hubs. The legal support was identified as beneficial as it provided tech start-ups with the regulations needed to be followed for their tech start-up. The study also made recommendations.