Studying the Effects of Entrepreneurial education with Start-Up Success Factors within the biotech industry: A review of the performance of German start-ups in the biotechnology Industry

Abstract

Understanding the antecedents of the success of entrepreneurial ventures requires evaluating the effect of entrepreneurial education and the start-up success factors, which cover the innovation and technology aspects. The research study evaluated the impact of entrepreneurial education and success factors on firm performance in the German biotech sector through a quantitative and survey-based approach. Data was collected from entrepreneurs who had undertaken entrepreneurial education or training. The data collection process yielded 312 usable questionnaires, and structural equation modeling was utilized to test the hypotheses proposed in our study. The study’s results revealed that entrepreneurial education significantly and positively impacts the firm performance of German start-ups in the biotech sector. Start-up success factors were found to be significantly associated with firm performance. The study emphasizes entrepreneurial education to increase motivation and awareness and augment innovation and continuous technology adoption, as they are the critical success factors for enhanced firm performance.