Challenges and opportunities in developing a high‐tech business in Central and Eastern Europe

Darek Klonowski and Daria Gołębiowska‐Tataj

International Journal of Emerging Markets, 2010, vol. 5, issue 2, 138-152

Abstract: Purpose - The purpose of this paper is to provide academics, practitioners, and students with an opportunity to understand the dynamics of growing an entrepreneurial business in the emerging markets of the high‐tech industry in Poland. Limited academic studies have analyzed the evolution of high‐tech entrepreneurial businesses in the emerging markets of Central and Eastern Europe (CEE). Design/methodology/approach - A case study format is used to illustrate some of the operational problems related to developing a business in the high‐tech sector. Findings - The case study offers some implications for academics and practitioners. For academics, the paper points out two areas of possible investigation. For practitioners, it highlights five problem areas specific to developing start‐up high‐tech businesses in the CEE region, with the most challenging problem being access to finance. Originality/value - The case study provides at least three benefits for academics and practitioners focusing on the CEE region. First, while academic literature highlights the importance of newly developed entrepreneurial firms in transforming centrally planned economies of the CEE region, there has been limited attention given to understanding the dynamics of developing early‐stage companies in the high‐tech sector. The case study fills an important gap in academic literature in this respect. Second, it demonstrates company‐specific operational problems as well as external market challenges. Other businesses in the sector operating in the CEE region can benefit from this experience and address similar problems well in advance. Third, the paper describes the dynamics of business failure. Such descriptions are unique in academic literature.

Keywords: Poland; Eastern Europe; Business formation; Venture capital; Emerging markets (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijoemp:17468801011031793

DOI: 10.1108/17468801011031793

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