Factors Influencing Effectiveness of Startup Policy Implementation in area of Industrial Promotion Center Region 4

Abstract

The objectives of this research were to 1) study the factors influencing the effectiveness of startup policy implementation in the Industrial Promotion Center Region 4 (IPC4), and 2) find ways to develop startup policy implementation in the area of IPC4. Mixed methods research determined four policy implementation factors that were good predictors of effectiveness as operator competency, sufficiency of resources, legal facilitation and workers’ attitudes. All four factors were statistically significant at the 0.05 level and could explain 71.60 percent of the total variance of startup policies. The research guidelines and recommendations were; 1) Entrepreneurs should strive to develop innovative business model write-ups and present business plans to access funding. 2) IPC4 should be supported by budget, personnel, experts and equipment. 3) Investors and financial institutions should play supporting roles in granting funding or joint investments with high-risk startups. 4) Relevant agencies should study the laws that obstruct the implementation of startup policies. 5) Training to develop positive attitudes, skills and knowledge in startup management should be provided for policy leaders as additional actions. 6) Increased public relations should be developed to improve project information. 7) Officers should study the environmental components and context information, and 8) The relevant agencies should increase the promotion and development of new entrepreneurial creation groups. Ecosystems should be developed to facilitate startups through an enterprise incubator at the university to build cooperation with government agencies and startups to expand research.