The results of the study conducted are explained below for each issue that had been raised in the interview. As for the best way to develop business for an IT startup, 55 percent of the participants have expressed the bidding process on the freelance projects as the best way; 32 percent said contracting with the big corporations as the best way and 13 percent of the respondents said it is the government tenders that provide the best opportunity for the IT startups to develop their business. On the question of approaches related to the regular revenue flow, 62 percent said it is the freelance bidding process that will ensure regular revenue flow; 29 percent said it is contract with the big corporations that will ensure regular revenue stream and 9 percent thinks the government tenders is the surest way of ensuring it.
95 percent thinks that innovation in the process is necessary for the success of the startups, while 97 percent thinks that organizational culture determines the performance of the employees. Further, 87 percent thinks new idea generation is critical for the IT startups and this aspect should be encouraged in the culture of the organization. Then, 67 percent are of the opinion that brainstorming is the best way for idea generation, while the rest 33 percent thinks otherwise. 61 percent of the participants are of the idea that Simple Structure suggested by Mintzberg is the most appropriate organizational structure for an IT startup. However, an overwhelming 83 percent of the participants feel that modifications are needed to the Simple Structure for the IT startup.
For optimal performance of the staff, 80 percent of the participants feel that their day to day activities should not be interfered with. 76 percent feel that the decision making of the apex body should be based on analysis, while 34 percent feels it should be based on intuition. Lastly, 73 percent feels that venture capitalists choose the management of an organization as a criterion for investment and 53 percent feel that industry they choose to finance have competitive edge in the market.