Sustainable Entrepreneurial Process in the Deep-Tech Industry

Ngoc Thu Hang Nguyen (), Arkadiusz Michał Kowalski () and Anna Maria Dzienis
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Ngoc Thu Hang Nguyen: World Economy Research Institute, Collegium of World Economy, SGH Warsaw School of Economics, al. Niepodległości 162, 02-554 Warsaw, Poland
Arkadiusz Michał Kowalski: World Economy Research Institute, Collegium of World Economy, SGH Warsaw School of Economics, al. Niepodległości 162, 02-554 Warsaw, Poland
Anna Maria Dzienis: World Economy Research Institute, Collegium of World Economy, SGH Warsaw School of Economics, al. Niepodległości 162, 02-554 Warsaw, Poland

Sustainability, 2024, vol. 16, issue 19, 1-22

Abstract: To date, deep-tech entrepreneurship and sustainable entrepreneurship are both attracting the interest of researchers. Indeed, deep-tech is being employed to address future sustainable challenges in the present. Nevertheless, the process of deep-tech startups is filled with distinct obstacles. These types of startups may necessitate a more targeted sustainable entrepreneurial process and specialised knowledge compared to conventional technological startups or general sustainable entrepreneurial processes. Currently, most publications discuss either a sustainable entrepreneurial process or conventional technical startups. Therefore, this article aims to investigate the process of sustainable entrepreneurs as they transition from startup ventures to scaleup enterprises within the context of the deep-tech industry. Based on previous sustainable entrepreneurial processes, a multiple case study was conducted within six deep-tech startups, using a narrative progress research strategy, to find the sustainable process pattern. A conceptual model of a sustainable entrepreneurial process in deep-tech industry is established, including five phases with six activities: (i) Sustainable idea definition; (ii) Sustainable opportunity recognition and evaluation; (iii) Venture launch; (iv.i) Sustainable products/services development; (iv.ii) New sustainable enterprise financing; and (v) Sustainable enterprise scaleup. This process enables sustainable deep-tech entrepreneurs, policymakers, and financial investors to necessarily have an overview of the key entrepreneurial stages to navigate from the startup to the scaleup process.

Keywords: sustainable entrepreneurship; deep-tech; entrepreneurial process; deep-tech entrepreneurship (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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