Critical Success Factors of Technopreneurship in the Creative Industries : A Study of Animation Ventures

Abstract

The creative industries are fast becoming an important income generator for a nation’s economy. This is evidenced in a report by the United Nations Conference on Trade and Development (UNCTAD), confirming that the creative industries generate income and job opportunities. The UNCTAD has encouraged developing countries to diversify their economies by way of developing their creative industries which have proven to be one of the most dynamic sectors of the world economy. However Malaysia still lagged behind developed countries such as the USA and the UK in developing its creative industries. One of the sectors of the creative industries is animation. The government is promoting the growth of the local animation industry by encouraging entrepreneurship in animation. Various initiatives have been provided by the government, however only a small number of animation companies have been successful. This paper looks at the barriers to the success of animation technopreneurship and possible factors that may well contribute to the success of this field of enterprise. This is an exploratory study as there seems to be a lack on an intensive research on the animation sector of the creative industries. 31 companies have been identified as actively producing animated TV series or feature films in Malaysia. Using quantitative method, data was collected using questionnaires sent to all these companies. 29 companies responded, while the other 2 declined to participate. The available data analysed indicated the followings are the barriers to the success of animation technopreneurship: limited access to financial resources; financial management; lack of skilled talents; limitation of local market; and bureaucratic procedures. And the followings are possible factors that may well contribute to the success of such a technopreneurship: access to financial resources, talent pool, government’s initiatives; promotion and marketing; networks and collaboration; IP; content quality; technology; diversification of products; entrepreneurial skills; and business location.