Beyond Finance: Enhancing Support for New Technology Start-Up Founders

Abstract

The article addresses a gap in the literature by examining the stressors and challenges specific to new technology start-up founders, an under-researched group of entrepreneurs operating at the intersection of innovation and business. The study’s novelty lies in applying the Job Demands-Resources (JD-R) model to the venture capitalist-founder relationship, highlighting the importance of balancing high job demands with adequate resources to enhance entrepreneurial well-being and success. Using a qualitative research design, the conducted study involved semi-structured interviews with 22 technology start-up founders across Europe to explore their unique challenges, demands, and support needs. The data were analyzed using template analysis, revealing three core challenges: managing the development of their technology-driven companies, maintaining mental and physical health, and achieving work-life balance. Based on these findings, the authors propose a novel, tailored support system for technology founders, incorporating mentorship, mental health resources, and strategies for maintaining work-life balance. This system is designed to meet the unique needs of technology entrepreneurs, with a focus on confidentiality, proven effectiveness, and flexibility. Venture capitalists are encouraged to implement such systems to alleviate the pressures on technology start-up founders and foster the sustainability and success of their ventures.

Keywords

• Founders of technology start-ups
• managing dark side of entrepreneurship
• new technology-based firms
• supporting start-ups
• venture capitalists