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International Journal of Marketing & Financial Management

FACTORS AFFECTING BEHAVIORAL INTENTIONS TOWARDS TECH-BASED STARTUPS IN HARYANA

Adhiraj Chauhan, Prof. (Dr.) Vikas Madhukar , Dr. Rishi Manrai

Adhiraj Chauhan, Amity International School, Pushp Vihar, New Delhi

Prof. (Dr.) Vikas Madhukar , Amity University- Haryana, Gurugram.

Dr. Rishi Manrai, Amity University- Haryana, Gurugram.

DOI : https://doi.org/10.5281/zenodo.21988232 Page No : 43-56

Published Online : 2026-08-18

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ABSTRACT

This study investigates the key ecosystem factors influencing technology-based startups in Haryana through an exploratory factor analysis (EFA) approach. Although Haryana has emerged as one of India's rapidly growing startup ecosystems, limited empirical evidence exists regarding the opportunities and challenges experienced by technology-driven startups within the state. A cross-sectional research design was adopted, collecting data from 520 valid responses obtained from startup founders across various technology sectors, including FinTech, HealthTech, EdTech, AgriTech, Artificial Intelligence, and E-commerce. A structured questionnaire was developed based on an extensive literature review and validated through pilot testing. Principal Component Analysis with Varimax rotation identified thirteen significant factors shaping the entrepreneurial ecosystem, namely market access, networking ecosystem, organizational capabilities, tangible and intangible resources, government support, employee retention, funding, market competition, business sustainability, attitude towards technology-based startups, behavioural intentions, incubation centres, and accelerators. The findings demonstrate that ecosystem support mechanisms, financial accessibility, networking opportunities, and institutional interventions significantly influence startup development and sustainability. The study contributes region-specific empirical evidence for policymakers, incubators, investors, and entrepreneurs and offers practical recommendations to strengthen Haryana's technology startup ecosystem through improved institutional support, funding accessibility, capability development, and regional entrepreneurial infrastructure.

Keywords: Technology-based Startups, Entrepreneurial Ecosystem, Exploratory Factor Analysis, Startup Ecosystem

References

Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.
Chauhan, A., & Bansal, D. (2023). A study on status of agricultural startups in Haryana state of India.
Chauhan, A., & Bansal, D. (2023). A study on status of agricultural startups in Haryana state of India.
Cohen, S. (2013). What do accelerators do? Insights from incubators and angels. Innovations: Technology, Governance, Globalization, 8(3), 19–25.
Department for Promotion of Industry and Internal Trade (DPIIT). (2024). States' Startup Ranking 2024. Government of India.
Granovetter, M. S. (1973). The strength of weak ties. American Journal of Sociology.
Hausberg, J. P., & Korreck, S. (2021). Business incubators and accelerators: A systematic review. Edward Elgar Publishing.
Hayward, M. L. A., Shepherd, D. A., & Griffin, D. (2006). A hubris theory of entrepreneurship. Management Science, 52(2), 160–172.
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Kahneman, D., & Tversky, A. (1979). Prospect theory. Econometrica, 47(2), 263.
Kaplan, S. N., & Strömberg, P. (2003). Financial contracting theory meets the real world: An empirical analysis of venture capital contracts. Review of Economic Studies, 70(2), 281–315.
McGrath, R. G. (1999). Falling forward: Entrepreneurial failure. Academy of Management Review, 24(1), 13–30.
Milliken, F. J. (1987). Types of perceived uncertainty. Academy of Management Review, 12(1), 133–143.
NASSCOM. (2022). Rising above uncertainty: Indian tech startups report.
NASSCOM. (2023). Weathering the challenges report.
NASSCOM. (2023). Weathering the challenges report.
OECD. (2016). OECD science, technology and innovation outlook.
Ries, E. (2011). The lean startup. Crown Business.
Schumpeter, J. A. (1934). The theory of economic development. Harvard University Press.
Thiranagama, R., & Edirisinghe, K. (2015). Startup challenges in Sri Lanka. NSBM Journal.
Vliamos, S. J., & Tzeremes, N. G. (2012). Entrepreneurial process factors. Journal of the Knowledge Economy, 3(3), 250–264.
Wernerfelt, B. (1984). Resource-based view of the firm. Strategic Management Journal, 5(2), 171–180.
World Economic Forum. (2021). EDISON Alliance internet access report.

Adhiraj C, Vikas M & Rishi M (2026), “Factors affecting Behavioral intentions towards tech-based startups in Haryana”, International Journal of Marketing & Financial Management, Volume 14, Issue2, 2026, pp 43-56, DOI : https://doi.org/10.5281/zenodo.21988232

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References

Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.
Chauhan, A., & Bansal, D. (2023). A study on status of agricultural startups in Haryana state of India.
Chauhan, A., & Bansal, D. (2023). A study on status of agricultural startups in Haryana state of India.
Cohen, S. (2013). What do accelerators do? Insights from incubators and angels. Innovations: Technology, Governance, Globalization, 8(3), 19–25.
Department for Promotion of Industry and Internal Trade (DPIIT). (2024). States' Startup Ranking 2024. Government of India.
Granovetter, M. S. (1973). The strength of weak ties. American Journal of Sociology.
Hausberg, J. P., & Korreck, S. (2021). Business incubators and accelerators: A systematic review. Edward Elgar Publishing.
Hayward, M. L. A., Shepherd, D. A., & Griffin, D. (2006). A hubris theory of entrepreneurship. Management Science, 52(2), 160–172.
Isenberg, D. (2010). The big idea: How to start an entrepreneurial revolution. Harvard Business Review.
Isenberg, D. (2011). The entrepreneurship ecosystem strategy as a new paradigm for economic policy. Babson College.
Kahneman, D., & Tversky, A. (1979). Prospect theory. Econometrica, 47(2), 263.
Kaplan, S. N., & Strömberg, P. (2003). Financial contracting theory meets the real world: An empirical analysis of venture capital contracts. Review of Economic Studies, 70(2), 281–315.
McGrath, R. G. (1999). Falling forward: Entrepreneurial failure. Academy of Management Review, 24(1), 13–30.
Milliken, F. J. (1987). Types of perceived uncertainty. Academy of Management Review, 12(1), 133–143.
NASSCOM. (2022). Rising above uncertainty: Indian tech startups report.
NASSCOM. (2023). Weathering the challenges report.
NASSCOM. (2023). Weathering the challenges report.
OECD. (2016). OECD science, technology and innovation outlook.
Ries, E. (2011). The lean startup. Crown Business.
Schumpeter, J. A. (1934). The theory of economic development. Harvard University Press.
Thiranagama, R., & Edirisinghe, K. (2015). Startup challenges in Sri Lanka. NSBM Journal.
Vliamos, S. J., & Tzeremes, N. G. (2012). Entrepreneurial process factors. Journal of the Knowledge Economy, 3(3), 250–264.
Wernerfelt, B. (1984). Resource-based view of the firm. Strategic Management Journal, 5(2), 171–180.
World Economic Forum. (2021). EDISON Alliance internet access report.

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