Impact of Technological Innovation on Growth of the Small Enterprises: A Study of Coir Industry in Sri Lanka

Abstract

The prime aim of this research study is to identify the impact of Technological Innovation (Technopreneurship) on the Small Enterprises (SEs) Growth. The study primarily contemplates on four types of Technological Innovation based on Machine Technology, Computerized Operations, Mobile Technologies and Other Communication Media Technologies of Coir SEs in Puttalam district of Sri Lanka. Primary data is collected from a sample of 100 which is drawn from the total population of 133 Coir SEs through the application of Simple Random sampling. An Ordered Logistic regression analysis is used as per the Inferential (Multivariate) Statistical analysis. Results depict, the growth of these four types of technologies based Innovation (Technopreneurship) lead for Enterprise Growth. Moreover explains that higher (up to date) the extents of these technologies, higher the positive contribution for Technological Innovation performance. Inadequate finance, lack of the knowledge are identified as the main reasons for the lower orientation of Coir SEs on Technology based Innovation performance. To promote technology based more value addition Coir SEs in Sri Lanka, emphasis on ‘Technopreneurship’ is essential where there is a requirement of Coir Industry and SEs category aspects specific Business Incubator (BI) model in Sri Lanka.