Technology and Entrepreneurship

Entrepreneurship is getting wider attention with increasing globalization and also the recent downturn in the world economies. It is believed (the assumption) that entrepreneurship promotes economic growth. In fact, some claim that entrepreneurship is critical to sustain the economy and to achieve or maintain competitiveness. Further the increasing development of information technologies (IT) has significantly affected both firms and markets. IT is currently changing the world in a more permanent and far-reaching way than any other technology in the history of mankind. It has become a widely-recognized fact that entrepreneurs and information technology have become the backbone of the world economy.

Entrepreneurship has long been considered an important economic activity.

The past 20 years has witnessed an explosion of research into entrepreneurs

and their actions with considerable emphasis on the elements

 that constitute successful entrepreneurship.

There is no doubt that entrepreneurship has tremendous impact on

 the economy and on society. 

In 2004, a report by the Global Entrepreneurship Monitor (GEM) stated that a considerably large number of people are engaged in entrepreneurial endeavors around the world. Based on a sample of 34 countries representing a total labor force of 566 million people, GEM research estimates that 73 million adults are entrepreneurial. Therefore, there is a need to study the cyber entrepreneurial practices for enhancing economic development. 

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