Start-ups as one of the Current Phenomena of Entrepreneurship and Their Significance for Successful Development in Slovakia

Globalization transforms the whole world. The constant development and implementation of new technologies that affect all spheres of business entities operating in international markets, define the modification of their strategies in order to maintain their position in the highly competitive market. The appearance of new technologies affects the business environment with its increasing intensity and develops uncompromising pressure on radical changes in business processes and their overall effect on global markets oversaturated with competition. The aim of this paper is to analyse the deeper meaning of start-ups, as one of the current phenomena of entrepreneurship and the support of young innovative companies within the state and public administration, with particular reference to their potential, as a fundamental basis for further economic development, increasing the efficiency and achieving the competitiveness in a wide range of differentiated business entities. The application of specific case studies analysing startups, ranking among the most successful in Slovakia in 2014, designates many positive as well as negative aspects of their use in the Slovak business environment and offers solutions for the further successful development.