TAMPERE UNIVERSITY
Facul y o Managemen and Business
MOHAMMAD AMIN JAFARI
INCREASING AWARENESS OF EMERGING TECHNOLOGY
Semina Repo
ii
Ja a i, M.
ABSTRACT
Backg ound:
Unde s anding echnology is essen ial o he success o inno a i e companies and
new s a ups o easons like he di usion o inno a ions, us om s akeholde s,
and he adop ion o inno a ions wi hin he ma ke . Eme ging echnologies leading
he change wi hin indus ies make he ha moniza ion o inno a i e echnological
p ocesses and communica ion, and echnology awa eness s a egies a de e mining
ac o o he comme cial success o a company.
Objec i e:
This pape e iews how echnology use and awa eness-building s a egies help i ms
ackle hei egula o y, inancial, and ma ke challenges. I highligh s how us om
s akeholde s, isibili y in he ma ke , and syne gy wi hin he economic ne wo k help
he adop ion o echnology and i s e icien use o g ow h.
Me hods:
The s udy is based on a concep ual and li e a u e amewo k app oach, syn hesizing
s a egic amewo ks on echnology awa eness om he di usion o inno a ions,
ma ke ing communica ions, and ecosys em li e a u e and inno a ion di usion
ecosys em li e a u e.
Resul s:
Findings highligh ed ha ea ly-s age i ms gain a lo om ha ing s a egies ha
ocus on s akeholde engagemen and collabo a ion wi h in es o s, ecosys em
pa ne s, and o he accele a o pa ne s o he pu poses o c edibili y and
collabo a ion
Conclusion:
The alignmen o awa eness s a egies wi h he o he s a egies on he inno a ion o
echnology enhances he adop ion o he echnology, inc eases he us o
s akeholde s, and he compe i i eness o he company in he ma ke , which is
necessa y o he companies’ sus ainabili y wi hin he ma ke .
.
iii
Ja a i, M.
PREFACE
This pape was w i en as a pa o he Li e a u e S udy in he Business and
Technology cou se o he mas e ’s p og am o Tampe e Uni e si y o enhance he
s uden s’ esea ch and w i ing skills. The pape p esen s insigh s in o he ole o
echnology awa eness in he success o s a ups and high- ech companies,
emphasizing how inno a ion and s a egic communica ion os e adop ion, ma ke
pene a ion, and long- e m g ow h.
I would like o hank D . Jouni Lyly-Y jänäinen o supe ising my wo k and his
p ecious ema ks ha helped me o ind and isualize ideas. His guidance and
eedback we e ins umen al in shaping he di ec ion and quali y o his s udy.
Tampe e, Decembe 2024
Mohammadamin Ja a i
i
Ja a i, M.
TABLE OF CONTENTS
ABSTRACT ______________________________________________________ ii
PREFACE _______________________________________________________ iii
1 INTRODUCTION ____________________________________________ 1
1.1 Backg ound __________________________________________________ 1
1.2 Objec i e o he Repo _________________________________________ 2
2 STARTUP ___________________________________________________ 3
2.1 S a up De ini ion _____________________________________________ 3
2.2 S a up Li e Cycle _____________________________________________ 3
2.3 S a up Objec i es o Scaling-up _________________________________ 5
3 BUILDING MARKET AWARENESS ___________________________ 7
3.1 C ea ing Ma ke Awa eness _____________________________________ 7
3.2 Tools o Building Ma ke Awa eness _____________________________ 8
3.3 Objec i es o Ma ke Awa eness _________________________________ 8
4 INCREASING AWARENESS _________________________________ 10
4.1 S a ups Su i al _____________________________________________ 10
4.2 Ma ke Awa eness Le els ______________________________________ 11
4.3 Collabo a i es o Ma ke Awa eness o Eme ging Technology ______ 12
5 DISCUSSION _______________________________________________ 13
6 CONCLUSIONS ____________________________________________ 13
REFERENCES ______________________________________________ 15
Ja a i, M.
1
1 INTRODUCTION
1.1
BACKGROUND
Technology awa eness se es as a undamen al d i e o inno a ion in mode n
economies, especially wi hin s a ups. S a ups ely on ad anced echnologies such
as a i icial in elligence, blockchain, and cloud compu ing o in oduce dis up i e
solu ions ha add ess global challenges while eshaping adi ional indus ies (Vaska
e al., 2020; Yadong Luo, 2022). These echnologies enable s a ups o deli e
scalable, high-impac solu ions, making hem i al con ibu o s o economic g ow h
and social p og ess (Maddyness, 2023). Howe e , he success ul adop ion o hese
inno a ions o en hinges on he ex en o which s akeholde s, om cus ome s o
in es o s, unde s and hei alue and eal-wo ld applica ions (Upadhyay and
Loompa, 2024).
Technology awa eness encompasses mo e han echnical unde s anding; i in ol es
cul i a ing us , educing skep icism, and ensu ing s akeholde s ecognize how
echnology can add ess hei needs (Joshi e al., 2023). Acco ding o Joshi e al.
(2023), his equi es s a egic communica ion, ailo ed messaging, and a ocus on
engaging di e se audiences. S a ups o en ace challenges in his ega d, as complex
echnologies may be di icul o explain o non- echnical s akeholde s o ea ly
adop e s (Yangailo e al., 2022). Wi hou e ec i e echnology awa eness s a egies,
e en g oundb eaking inno a ions isk ailing o gain ac ion (Reggie Bu le , 2023).
The s a up ecosys em plays a c ucial ole in acili a ing echnology awa eness.
Ins i u ions such as en u e capi al i ms, accele a o s, and esea ch o ganiza ions
p o ide s a ups wi h pla o ms o showcase inno a ions, access men o ship, and
secu e unding (Global S a up Ecosys em Repo , 2023). Fo example, collabo a i e
indus y e en s like ade shows and inno a ion hubs o e oppo uni ies o s a ups
o di ec ly engage wi h po en ial use s and pa ne s, os e ing deepe awa eness and
us (Hagedoo n e al., 2018). Addi ionally, ini ia i es such as pilo p og ams, be a
es ing, and cus ome co-c ea ion u he enhance echnology adop ion by building
c edibili y and c ea ing loyal ea ly adop e s (Von Hippel, 2005).
In oday’s in e connec ed global economy, echnology awa eness is no only a
su i al s a egy o high- ech companies bu a c i ical enable o hei long- e m
success. By aising awa eness and b idging he gap be ween inno a ion and
adop ion, companies can es ablish hemsel es as key playe s in d i ing bo h
economic and echnological ad ancemen s (Da ila e al., 2015; Fio en ino e al.,
2019).
Ja a i, M.
2
1.2
OBJECTIVE OF THE REPORT
The pape e iews how hese kinds o companies can sha e hei inno a ions,
communica e wi h s akeholde s, and c ea e and enhance us o ensu e he adop ion
o new echnologies. This objec i e is gained by explo ing key componen s o
echnology awa eness, such as cus ome segmen a ion, communica ion s a egies,
and he impac o us -building me hods in o e coming doub s and opposi ion o
change. The main objec i e o he pape …
…is o e iew he echnology awa eness ole in d i ing a high- ech
company's success.
The pape also aims o handle challenges aced by s a ups as inno a o s in
echnology, including esou ce limi a ions, legal ba ie s, and ma ke compe i ion
challenges, all o which can limi he abili y o inc ease awa eness o new
echnologies. By iden i ying bes p ac ices, like u ilizing communica ion channels,
building s a egic pa ne ships, and p o iding p ac ical expe iences (pilo p og ams),
he pape p o ides ope a ional insigh s o en ep eneu s.
Addi ionally, he pape highligh s he impo ance o ma ching echnology awa eness
e o s wi h he ex ended indus y en i onmen . By linking high- ech companies and
s a ups wi h in es o s and accele a o s, hese ecosys ems boos hei isibili y and
c edibili y. Ul ima ely, he pape seeks o p o ide a oadmap o le e age echnology
awa eness as a s a egic ool, enabling high- ech companies and s a ups o achie e
sus ainable g ow h, gain ma ke sha e, and suppo echnological and economic
de elopmen on a global scale.
Ja a i, M.
3
2 STARTUP
2.1
STARTUP DEFINITION
A s a up is an en ep eneu ial en u e, o med as a small businessin in i s ini ial
s age o ope a ion and o en inanced by i s ounde s; i is designed o de elop, g ow
apidly, and scale using a business model ha ocuses on an inno a i e p oduc ,
se ice, p ocess, pla o m, o solu ion o add ess ma ke p oblems ha he ounde s
s ongly belie e in (Nu an, 2012).
E e y yea , a ound 100 million s a ups begin hei ope a ions wo ldwide and
he e o e ha e a p o ound impac on he economies in which hey ope a e (Al-Ehsan,
2021). Wenneke s and Thu ik (1999), Ca ee and Thu ik (2003), and F i sch and
Muelle (2004) no e ha s a ups con ibu e di ec ly o new employmen and
p oduc ion, as well as o egional p oduc i i y h ough in-mig a ion and ela ed
e ec s.
F i sch and Muelle (2004) also ind ha s a ups induce incumben i ms o imp o e
e icien ly and inc ease compe i ion and inno a ion in he ma ke . Hence, he e is a
clea a ionale o go e nmen s o os e s a up g ow h, gi en i s posi i e co ela ion
wi h economic de elopmen (Al-Ehsan, 2021).
To succeed, s a ups ely on ac i e ecosys ems composed o key playe s,
o ganiza ions, and asse s (Global S a up Ecosys em Repo , 2023). This ecosys em
includes en u e capi alis s, accele a o s, esea ch o ganiza ions, and public agencies
ha p o ide unding, men o ship, and access o ad anced echnologies (Global
S a up Ecosys em Repo , 2023).
2.2
STARTUP LIFE CYCLE
Acco ding o Abhishek and Sushil (2018), an ea ly-s age s a up is launched o
de elop an idea wi h po en ial o a subs an ial business oppo uni y and impac .
While some ideas a e sudden insigh s, mo e o en hey a ise om ex ensi e
de elopmen aimed a sol ing a meaning ul p oblem o an iden i iable ma ke . This
phase ypically in ol es a small, commi ed eam wo king owa ds an ini ial p oduc
launch.
The en u e- unded s age begins wi h secu ing ini ial in es men , ma king he
ansi ion om po en ial o expec ed pe o mance. The company ypically scales
ope a ions, hi es addi ional s a , and es ablishes a sales unc ion o expand i s
cus ome base and p epa e o u he unding ounds (Abhishek and Sushil, 2018).
Ja a i, M.
4
The la e-s age hen elies on s able inancing and places g ea e emphasis on
ope a ional pe o mance.
Figu e 1. S a up Li e Cycle
As shown in Figu e 1, s a ups o en expe ience nega i e g ow h o ailu e in he
ea lies days; howe e , by add essing challenges and pe sis ing, some en u es mo e
in o posi i e g ow h and p o i abili y.
Abhishek and Sushil (2018) no e ha his s age can in ol e p oduc line expansion,
en y in o new geog aphies, o acquisi ions o sus ain g ow h. Depending on
s akeholde s' goals, ounde s and in es o s a his s age may also conside an exi
s a egy, such as an Ini ial Public O e ing (IPO) o selling he company.
Figu e 2. S a up Jou ney
Figu e 2 summa ises he jou ney om idea o scaling by ocusing on s a ups.
In en ep eneu ship, ew achie emen s a e as celeb a ed as ounding a ”unico n”
s a up, a e m coined by Aileen Lee in 2013 o desc ibe p i a ely held companies
ha each a alua ion o o e $1 billion (Lee, 2013).
Ja a i, M.
5
The ise o such s a ups o e he pas wo decades has eshaped global ma ke s and
dis up ed adi ional business models, while also inc easing in e es in he ounde s’
ne wo ks and ajec o ies (S a ee , 2024). The ole o bo h o mal ne wo ks
(incuba o s, accele a o s) and in o mal ne wo ks (pee g oups, men o s) in he
de elopmen o unico n ounde s emains an impo an a ea o esea ch (S a ee ,
2024). Se e al s udies (Cohen and Hochbe g, 2014) highligh ed he pi o al ole
ne wo ks and communica ion play in s a up success by acili a ing knowledge
sha ing, esou ces, and men o ship oppo uni ies.
2.3
STARTUP OBJECTIVES OF SCALING-UP
Scalabili y e e s o a i m's capaci y o expand apidly wi hou comp omising i s
s uc u e and a ailable esou ces (Simsek and Pos , 2020). A scale-up is a company
ha has success ully ans o med i s business model in o a eplicable one, adap ed
i s p oduc o ma ke demands, and has con idence ha i s model can se e cus ome s
on a la ge scale while emaining esponsi e (DeSan ola and Gula i, 2017).
Rapidly expanding en e p ises, commonly known as scale-ups, play a c ucial ole in
os e ing a obus economy. Scaleups a e ecognised as sou ces o inno a ion, d i e s
o indus y enewal (Hani zadeh e al., 2023), and agen s ha help mi iga e
unemploymen challenges du ing economic down u ns (Cou u, 2014a, 2014b).
He e a e he mos impo an objec i es o s a ups when scaling up:
• Inc easing e enue and p o i abili y
• Achie ing ma ke leade ship and sus ainable g ow h
• Secu ing capi al
• Acqui ing alen
Inc easing e enue and p o i abili y is a p ima y objec i e du ing scaling; while
g ow h o en implies a linea ela ionship be ween esou ce alloca ion and e enue
gene a ion, scaling aims o e enue g ow h ha ou paces cos inc eases (Cowling e
al., 2017; Ca don and Ch is ophe , 2016).
Ma ke leade ship and sus ainable g ow h equi e en ep eneu s o in es esou ces,
pa icipa ion, and s eamlined p ocesses in o a obus business model du ing he
scaling s age (Pisoni and One i, 2016; Picken, 2018). This in es men suppo s
compe i i e scaling and sus ainable ma ke leade ship (Hani zadeh and Sadeghi,
2024).
Secu ing capi al is also a key objec i e o s a ups; s a ups and echnology-d i en
en e p ises s i e o maximize he u iliza ion o hei ideas, echnologies, and capi al
Ja a i, M.
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As no ed by Hagedoo n e al. (2018), public–p i a e pa ne ships a e especially
impo an in egula ed sec o s such as heal hca e and g een echnology, whe e
alignmen wi h socie al and egula o y p io i ies os e s accep ance and us .
Taking pa in indus y ecosys ems, such as ade shows and inno a ion hubs,
p o ides companies wi h oppo uni ies o p esen hei echnologies di ec ly o
s akeholde s (Budden and Mu ay, 2019). Collabo a ion wi h cus ome s u he
d i es adop ion and di usion (Ca alin and Do ian, 2014). By in ol ing use s in he
de elopmen and launch phases h ough pilo p og ams and ocus g oups, companies
ensu e ha hei p oduc , se ice, o echnology add esses eal ma ke needs.
This p ocess c ea es loyal ea ly adop e s who suppo echnology h ough
es imonials and wo d-o -mou h. Mo eo e , such co-c ea ion ini ia i es ins ill us
in he p oduc , i s epu a ion, and appeal ac oss b oade demog aphics (Von Hippel,
2005). Th ough a combina ion o s a egic alliances, ecosys em engagemen , and
cus ome co-c ea ion, companies can e ec i ely un eil hei p oduc , se ices, o
echnologies, build us , and d i e sus ained ma ke awa eness.
Ja a i, M.
13
5 DISCUSSION
The discussion o his s udy is he ole o echnology awa eness as a s a egic enable
o s a up pe o mance and sus ainabili y. Inno a ion is he basis o a compe i i e
ad an age, bu his s udy shows ha wi hou simul aneous awa eness and legi imacy
building, he mos sophis ica ed echnologies will no gain adop ion o en e he
ma ke . Resou ce-cons ained s a ups mus , he e o e, ely on s a egic isibili y and
us -building measu es ha go beyond adi ional ma ke ing.
The li e a u e highligh s ha s a ups wo k in in e dependen ecosys ems whe e
awa eness is collabo a i ely cons uc ed. Membe s o he ecosys em, including
accele a o s, in es o s, esea ch ins i u ions, and policymake s, a e c edibili y
alida o s. This shows ha awa eness is no me ely a ma ke ing ou come; i is a
sys emic phenomenon linking inno a ion di usion o s a egic pa ne ships. Fi ms
ha synch onize hei awa eness e o s wi h he dynamics o hei ecosys em a e
be e posi ioned o ob ain unding, accele a e ma ke adop ion, and g ow p o i ably.
Mo eo e , he discussion indica es ha cus ome awa eness de elops in s ages
simila o he adop ion li ecycle. S a ups ha iden i y and ailo hei communica ion
o all le els o awa eness— om unawa e o mos -awa e—a e in he bes posi ion o
u n isibili y in o engagemen and loyal y. The connec ion be ween awa eness and
su i al unde sco es how inc easing awa eness no only acili a es cus ome
acquisi ion bu also os e s in es o us , secu es egula o y buy-in, and p omo es
in e nal lea ning, all o which a e c ucial o ea ly-s age esilience.
As he inal poin , li e a u e p o ides e idence o a change in ocus o collabo a i e
and pa icipa o y app oaches o awa eness c ea ion. Cus ome co-c ea ion,
pa ne ing wi h olde companies, and pa icipa ing in indus y ne wo ks p o ide
legi imacy and accele a e di usion. These mechanisms o e a eplicable s a egic
pa hway o s a ups o achie e immedia e isibili y and achie e long- un
sus ainabili y. To conclude, awa eness in he ma ke is no an ancilla y ask bu a
s a egic compe ence ha de e mines he ex en o which inno a ion is able o
achie e an impac .
Ja a i, M.
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6 CONCLUSIONS
Technology awa eness is key o he success o high- ech companies and s a ups, as
i enables hem o b eak down obs acles o he adop ion o inno a ions and secu e a
compe i i e posi ion in he indus y. S a ups can gain a sense o unde s anding,
accep ance, and legi imacy a ound hei echnology h ough collabo a ion wi h us -
building, and engagemen wi h impo an playe s in he ecosys em.
This esea ch highligh s he impo ance o pa ne ships, especially hose wi h
accele a o s, en u e capi alis s, and public-p i a e ins i u ions, in p o iding
legi imacy and isibili y, as well as c edibili y. The loyal y o ea ly adop e s and
long-las ing impac o a company a e achie ed h ough cus ome co-c ea ion and
pilo p og ams, which alida e he ma ke i and o e oppo uni ies o sus ainable
g ow h.
To manage ma ke unce ain y, scale, and de elop endu ing esiliency, a s a up can
combine s a egic awa eness wi h inno a i e solu ions. Such app oaches help o
inc ease he use o cu ing-edge echnology on he ma ke and aid in he ad ancemen
o echnology. Thus, he esea ch o e s alue o en ep eneu s in hei e o s o use
awa eness as a s a egic componen in achie ing ma ke impac and sus ained
iabili y.
This s udy desc ibes he ela ionship be ween unde s anding a ma ke and
de eloping new echnology. Fo s a ups, in es ing in unde s anding a ma ke c ea es
a loop whe e insigh s om cus ome s help c a be e p oduc s, leading o
inno a ions. This loop, made up o di e en le els o ma ke awa eness, p oduces
solu ions ha a e be e aligned wi h he ma ke , leading o g ea e adop ion o
echnology. Winning he con idence o cus ome s and o e coming he esis ance o
he o ganiza ion o change p omo es he p ac ical adop ion o ans o ma ional
echnology.
Analysis o he indings highligh s he new digi al ans o ma ion ools as awa eness
mul iplie s. Tools o social media, engagemen analy ics, and digi al na a i es
allow companies o communica e he wo h o hei inno a ions mo e e icien ly and
cos -e ec i ely. These ools help o ganiza ions o engage s akeholde s in ways ha
a e a mo e ex ensi e han adi ional ou each e o s. These ools allow awa eness
campaigns o ocus on speci ic s akeholde s. Toge he , hese campaigns c ea e a sel -
ein o cing ecosys em whe e us suppo s inno a ion and ma ke pene a ion. This
empowe s sus ained g ow h and ad ancemen o echnology.
Ja a i, M.
15
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