Technopreneurship (Prelim)

Technology

- comes from 2 Greek words “techne” and “logos”.

Techne – Art, skill, craft, or the way, manner, or means by which a thing is
gained.

Logos – Word, the utterance by which inward thought is expressed a saying

or an expression.

- is the making, modification, usage, and knowledge of tools, machines, technique,

crafts, systems, and methods of organization in order to solve a problem,
improve a pre-existing solution.
- is an applied science.

Applied science – follows a certain procedure.

Entrepreneurship

- is the practice of converting good ideas to something profitable.

- a process of identifying and starting a business venture, sourcing and organizing
the required resources and taking both the risks and rewards associated with the
venture.
- must conduct feasibility study.
- starting up a new business.

Entrepreneur

- People who enter into new and pioneering ventures.

- is Whole Brained – he/she uses both right and left brain (logical/creative).

Technopreneurship:

- is simply entrepreneurship in a technology intensive content.

- is the process of merging technology and entrepreneurial talent and skills.
- is the high-tech ventures in ICT, electronics, internet, life, science, and biotech.
- Science firms (eBay, FEDEX, SMART, E-learning/Blended Learning) where
technology is critical to their mission.
- is entrepreneurship in the field of technology.
Things associated with Technology:

- System (hardware/software)
- Gaming
- Entertainment
- Education
- E-commerce (buy & sell online)
- M-commerce (mobile)

Technologies that can be transformed to business:

- Bar code
- Finger print device
- Internet
- Computers
- Printers

5 Major Technology categories/criteria:

- User-friendly
- Portable
- Compatible
- Reliable
- Integrity

Maintenance/Modification – add feature or correct errors.

Knowledge of tools:

- User manual (technical know-how)

- Train

Problem – manual/automated/computerized.

Improve a pre-existing solution – enhancement of existing system.

Procedure of making Technology:

1. Analysis – Determine the problem.

2. Design – Prototype (flowchart/input/process/output).
3. Coding – Programming language (needs a compiler while Scripting language do
not).
a. OOP(object-oriented programming)
b. DOS(disk operating system)
4. Testing – Beta/alpha (uncover errors).
5. Implementation – Deploy/release.
6. Evaluation – Get feedback from user.
7. Maintenance – Uncover errors/add new features or components.

Characteristics of an Entrepreneur:

1. Hardworking – Vital and essential aspect of an entrepreneur.

2. Self-confidence – Where you have to trust yourself and your abilities.
3. Builds for the future – Adoptable to changes/flexible.
4. Profit-Oriented – Should be aware of different marketing strategies.
5. Goal-Oriented – Responsible to finish or complete a task.
6. Persistent – Positive enough to finish a task.
7. Respond to feedback – Handle and operate criticism.
8. Demonstrate initiative – Savvy approach.
9. Willing to listen – Willing to accept suggestions from other people.
10. Sets his own standards – Where you have to level up your own standards.
11. Copes with uncertainty – Know how to take measures and deal with uncertainty.
12. Committed – Devoted into something/Doing the best.
13. Build on strength – Strong physically and mentally.
14. Reliable and has integrity – Know how to handle trust and confidence.
15. Risk-taker – Trained to change the future.
Course Model of Entrepreneurship:

1. Self-mastery – Passion from knowing yourself.

Characteristics:

 Performer – Competitive/Efficient.
 Epicure – Sensual and Cheery.
 Boss – Takes charge and responsible for anything and lover of a
good fight.
2. Environment Mastery – Generating business, ideas, and seeking opportunities.
(Crises/Trends/Serendipity Walk).
- Serendipity Walk – is a process of making something or discovering
something by accident.

Characteristics:

 Understands the industry.

 Sees the opportunities, not the problem.
 On top of the situation instead of being under.
 The organization or industry innovator and strategist.
3. Enterprise Mastery – Knowing how to run a business.

Disciplines:

 Creating the business

 Marketing management
 Operations management – Man-power/how the business runs.
 Financial management – Monetary aspects.
 Risk management – How the entrepreneur handles the problems.

Characteristics:

 Understands and integrates the function of management.

 Understands and integrates the process of management.
 Leads and inspires rather than manage.
4. Development of Business Plan – Writing and presenting the details of your
business.

Disciplines:

 Writing of business plan

 Presenting and defending of business plan
 Refinement of business plan.
4 Types of Entrepreneurship:

1. Incremental – Refine business, modest novelty (coffee shops, new BPO).

2. Imitative – Imitation of venture, same business model and template (franchises
like 7/11).
3. Rent-seeking – Business that utilizes standards, regulations, and laws to share in
value of enterprise (Coca-Cola).
4. Innovative – Business based on innovation (microchips).

Importance of Technopreneurship:

1. Employment creation

Top 10 Highest Paying Jobs:

1. IT
2. Engineer
3. Database Administrator
4. Technical Support
5. Actuarial Science
6. Microbiologist
7. Accountant
8. Legal Services
9. Advertising
10. Public Creations
2. Local resources
3. Decentralization and diversification of business
4. Promotion of technology
5. Capital information
6. Promotion of an entrepreneurial culture

Different Technology Ventures:

 Local:
1. Smart link (computer shop, deals with repairs).
2. Lane system – Software integration development.
 National:
1. Netopia (internet cafe).
2. yehey.com
 International:
1. YouTube – a video sharing website.