ADVANTAGES OF STARTING AND EXECUTING START-UP PROJECTS IN THE MODERN ECONOMY

Authors

  • Hu Huixin 1st year Doctoral Student, DBA, Al-Farabi business school, Al-Farabi Kazakh National University, Almaty, Kazakhstan
  • Doszhan R. PhD, Al-Farabi business school, Al-Farabi Kazakh National University, Almaty, Kazakhstan

Keywords:

startups, innovation development strategy, business accelerators, development institutes

Abstract

The article examines the development of strategic initiatives to support technological startups. As innovative companies, startups aim not only to introduce new products and services to customers, increase capital, and generate investor income, boost employment in the post-industrial network economy, and enhance the country's global image, especially in the IT sector.

In crafting these strategic initiatives, the authors extensively relied on Professor V.L. Kvint's strategy methodology. Emerging trends in investment models, where more corporations shift from product sales to solution implementation, allow for investment optimization by outsourcing internal processes. This creates additional opportunities for startups, especially small innovative companies.

Significant development potential is linked to the substantial domestic market and rapid growth in information technology, coupled with organizational support from companies and universities for startups. This is crucial since startups, unlike stable businesses, do not have consistent sales or generate sufficient cash flow but rely on funding from investors and founders.

The authors justify the application of the "Canvas" business model for technological startups, enabling flexible adjustments not only in business processes to find optimal consumer solutions but also in corporate strategy development. The sustainable financing model for small innovative companies significantly differs from standard financial models. The authors highlight the need for business accelerators, which can be created by large corporations, universities, development institutes, and private funds.

Moreover, startup funding sources are not limited to venture capital but can include new instruments like mutual funds for qualified investors. The article presents strategic initiatives that Kaspersky iHub can practically use to support IT sector startups and optimize business incubator operations.

Published

2024-11-25

How to Cite

Hu Huixin, & Doszhan R. (2024). ADVANTAGES OF STARTING AND EXECUTING START-UP PROJECTS IN THE MODERN ECONOMY. Scientific Research and Experimental Development, (8). Retrieved from https://ojs.publisher.agency/index.php/SRED/article/view/4715