CHALLENGES OF TECHNOPRENEURSHIP SUCCESS IN LOKOJA, KOGI STATE

Abstract This study was carried out to determine the challenges of technopreneurship success in Lokoja, Kogi State. Survey design was adopted for the study. To guide the study, four research questions and two null hypotheses were formulated. The population for the study is 122 technopreneurs in business establishments in Lokoja. Structured questionnaire was used for collection. 122 copies of questionnaires were administered and 113 copies were returned. Data collected was analyzed using and T-test Statistics. Based on the analysis, the following findings were made: the financial challenges of technopreneurship success in Lokoja, Kogi State include: limited access to startup capital, high interest rates on loans, stringent collateral requirements high cost of technology; power supply challenges include: unreliable electricity supply, high cost of alternative power sources, outdated and inadequate power infrastructure, voltage fluctuations and equipment damage, high electricity tariffs and slow response to electrical faults and repairs; skill challenges include: lack of necessary technical skills, poor business management skills, insufficient innovation and problem-solving skills, weak marketing and branding skills and limited access to skill development programs; and that the environmental challenges include: poor infrastructure, extreme weather condition, poor waste management and pollution, irregular water supply, insecurity and theft and climate change impact. The findings also revealed that there is no significance difference between the mean responses of male and female technopreneur on the financial and power supply challenges of technopreneurship success in Lokoja, Kogi State. Based on the findings, the researcher recommends that government should improve the financial ecosystem for start-ups, embark on an independent power project plan to increase the capacity of the megawatts supply, institutions should adopt a more integrative approach that combines theoretical knowledge with practical technology-driven experiences.