Globalization and technological transformations have triggered novel changes in both the developed and developing countries. Technology and entrepreneurship are vital tools used for national economies towards twenty first century requirement and growth. Technology based enterprises are specifically smart to policy-makers because of their higher prospective for job creation and wealth-generation through business development as well as their lower disappearance rates compared to non-technology based firms. New technologies are often developed in R&D institutions.

This study specifically examines the drivers of technology adoption in SMEs and their impact on SMEs’ performance - profit, growth and market share. In the developed countries technology development drives the incubator movement. In the face of the potential role of SMEs to enhanced growth and job creation in developing countries, a number of tailbacks affect their ability to realize their full potential. SME development is vulnerable by a number of factors, including finance, lack of managerial skills, equipment and technology, regulatory issues, and access to international markets.