Measuring the Potential for Technology Entrepreneurship Development: Serbian Case

Jovana Rakicevic; Maja Levi Jaksic; Milica Jovanovic

doi:10.7595/management.fon.2018.0009

Jovana Rakicevic University of Belgrade, Faculty of Organizational Sciencies
Maja Levi Jaksic University of Belgrade, Faculty of Organizational Sciencies
Milica Jovanovic University of Belgrade, Faculty of Organizational Sciencies

DOI: https://doi.org/10.7595/management.fon.2018.0009

Abstract

Research Question: This paper explores the potential for technology entrepreneurship development at the country level through the creation of a new composite index. Motivation: Motivation for this paper arises from the fact there is a lack of the composite indices used exclusively for technology management as identified by Jovanovic et al. (2017). Technology indices are mostly used as important components of other composite indices used for tracking a country performance from the perspective of other global phenomena (e.g. competitiveness and innovativeness). The novelty of this paper reflects in the proposed Technology Entrepreneurship Development Potential (TED-pot) index which has multiple significances. It could serve as a help for policy makers in creating national policies; other companies and countries looking for the adequate environment to invest in technology entrepreneurship projects; academics who benefit from a new country-level view on technology entrepreneurship, especially ICT entrepreneurship. Idea: The idea of the paper was to create the TED-pot index to enable the cross-countries comparisons and examine whether the potential of Serbia lies in its entrepreneurial ICT sector. Data: Four indicators included in the created index are measured by the World Bank. The index is applied on six ex-Yugoslav countries and the EU for the period 2009-2014. All the data is collected from the World Bank database. Tools: The final index value is obtained by using the simple weighted function with equal weights. The overall TED-pot has been built upon the equal weighting of the two created pillars: ICT potential (ICT-pot) and Entrepreneurial potential (E-pot). The values for each pillar are calculated by the same procedure, through the simple mean of certain indicators. Findings: According to the calculated TED-pot values, Serbia stands out as a country with the greatest potential for technology entrepreneurship development in the region. Analysing individual pillars, ICT-pot indicates Serbia has very strong ICT sector, far ahead of other countries in the region, while the E-pot values show there is a space for administration to ease and speed up the process of starting new businesses in Serbia. This is a pilot research and the first presentation of the created index, which calls for further investigation. Contribution: This paper expands exiting research related to the country-level measurement in the field of technology management and entrepreneurship, especially focusing on ICT entrepreneurship development.

Author Biographies

Jovana Rakicevic, University of Belgrade, Faculty of Organizational Sciencies

Jovana Rakicevic, MSc, works as a teaching assistant at the University of Belgrade, Faculty of organizational sciences, Department for management of technology, innovation, and development. She is currently enrolled in PhD studies – Information Systems and Management. She is author and co-author of about 30 scientific research papers and three book chapters. Her research and teaching area of interest include technology and innovation management, performance measurement, sustainable SMEs development, sustainable development, and technology entrepreneurship.

Maja Levi Jaksic, University of Belgrade, Faculty of Organizational Sciencies

Maja Levi Jaksic, PhD is full professor at University of Belgrade, Faculty of organizational sciences, and Head of Department for management of technology, innovation and development Management. Prof Levi Jaksic has published more than 200 works, among which more than 20 books and monographs and had been engaged in fundamental and applied research projects. She has been teaching as visiting professor at universities in Greece, United Kingdom, Japan, and France and is the program leader of the dual diploma Academic Master program in International Business and Management, organized with the Middlesex University from London. She is a member of Editorial Board of Technovation.

Milica Jovanovic, University of Belgrade, Faculty of Organizational Sciencies

Milica Jovanovic, MSc, works as a teaching assistant at the University of Belgrade, Faculty of organizational sciences, Department for management of technology, innovation, and development. She is completing her PhD studies at the Faculty of Organizational Sciences, University of Belgrade - Information systems and management. She has been involved in 3 consulting projects and one strategic project funded by the Ministry of education, science and technological development of the Republic of Serbia. Her primary research interests include technology and innovation management, quantitative management, sustainable development and performance management.