Factors Affecting Entrepreneurial Intentions Behind Impact-Driven Sustainable Ventures

Research background Impact Entrepreneurship is the creation of an organization that are aligning profits with purpose. Impact entrepreneurship is venturing into “for-profit” benevolent business having a transformational purpose which can improve the lives of a billion people. With a viable and expanding business model, a wide range of challenges are addressed with the potential to significantly alter many people’s lives. Such an awareness has led to increased interest in investigating impact entrepreneurial aspirations, particularly from an impact standpoint. Purpose The purpose of this paper is to look into the impact entrepreneurs’ plans to increase interest in impact start-ups. A model to determine the factors influencing intentions of impact entrepreneurs has been built through this study. Research methodology Primary data from impact entrepreneurs is gathered using a cross-sectional descriptive research design. To get real answers, a comprehensive questionnaire comprising many sets of questions about behavioural and psychological constructs of entrepreneurial intention, as well as demographic traits, was sent out. Results Environmental consciousness and intrinsic rewards were found to be significant in driving entrepreneurial intentions among impact entrepreneurs. This suggests that individuals who value the environment and derive personal fulfilment from making a positive impact are more likely to be motivated to pursue sustainable ventures. External incentives and social networks are not significant drivers for impact entrepreneurs. This challenges traditional assumptions about the importance of financial rewards and social support in entrepreneurial decision-making, particularly in the context of impact-driven ventures. Novelty This is possibly one of the first scholarly papers that discuss the entrepreneurial intentions of impact entrepreneurs with several constructs. The findings also contribute to our understanding of impact entrepreneurship, the uptake of sustainable projects, and the opportunities that come with them.