Influence of technological capability, management teams and access to finance on sustainable entrepreneurship over time

Abstract Driven by their growing impact on countries’ economic development, research on management teams in new technology-based firms (NTBFs) has intensified in recent years, aiming to identify the success and failure factors of these companies, given their high mortality rates. This study investigates the influence of human capital, technological capability, and access to finance on the sustainability over time of new technology-based firms (NTBFs). We employed a PLS-SEM model and data from the Global Entrepreneurship Index (2018), the Digital Platform Economy Index (2020), and the Global Innovation Index (2023), integrating information from 106 countries. Our results show a significant and positive relationship between: (a) technological capability and access to finance, indicating that greater financial resources lead to more robust technological development; and (b) both technological capability and human capital, which directly influence the long-term growth and sustainability of NTBFs. Prior work and entrepreneurial experience within the management team emerged as the strongest predictor of firm survival. These findings suggest entrepreneurs should prioritize experienced teams and innovative models based on new technologies, while policymakers should focus on human capital development, technology-based innovation, and broader access to financing to promote sustainable growth over time of NTBFs.