In this paper we focus on factors that affect new business entry as they have been shown to generate both employment and economic growth. Thus, the purpose of this paper is to identify the economic, political, social and technological factors those that have the greatest impact on the creation of new firms. We put forward the idea of a techno-institutional leap, meaning that information and communication technologies (ICTs), because of their multipurpose nature, have the ability to help potential entrepreneurs overcome weaknesses in other areas of country economies. The study uses a fixed effects statistical model, developed from ITU and World Bank data. The results support the hypothesis of the techno-institutional leap and show that income and governance elements related to business operations and ICTs affect new business entry. Other factors such as general governance, income inequality, access to credit, trade, and education were not significant.