Technology entrepreneurship through small, medium, and micro enterprises engaged in technology development and commercialization fosters economic growth and competitiveness. Yet, despite their potential, new technology ventures frequently encounter major challenges, leading to high failure rates during their formative years. This paper investigates the factors influencing the success of pre-commercialization support for new technology ventures in South Africa. The study explores internal and external determinants of venture support outcomes based on interviews with entrepreneurs and technology transfer officers. It addresses gaps in the literature by integrating different theoretical perspectives to consider how these factors affect access to new venture support. The findings highlight the multi-faceted nature of early-stage support, emphasizing the importance of non-financial assistance alongside traditional funding mechanisms. The study identifies strategic considerations for technology ventures seeking to enhance their support outcomes, including the role of derisking strategies and legitimacy signaling mechanisms. This research provides insights for technology entrepreneurs, investors, and other ecosystem actors interested in fostering a supportive technological innovation and entrepreneurship environment.