High-Tech Ventures do not have a rigid definition.

However, businesses under this venture like

App Development, IT Support, etc. have similarities specifically investing heavily on Research
and Development. Most of the people involved in this type of business ventures include
engineers and scientist in pursuing of creating new solutions, products and possibilities. They
heavily employ the application of their knowledge in technology and mostly create their
inventions as fast as possible to stay ahead of the game.

First element of a successful technopreneur is they create a unique value. They look for a
problem that has not yet been solved or problems that tend to be overlooked by majority and
then they create unique solutions for it. For example, the developers of Uber thought of a
different way of calling a cab. Instead of manually calling out taxi drivers, they built a GPS
integrated app which completely changed the taxi/cab industry in the world. Second element is
they always stay updated. They are aware that the customers’ need is their paramount priority.
They know that customers’ demand is ever changing thus, they always make sure that they are
updated. Third element is they have the ability to choose their teammates/co-workers wisely.
They let themselves to be involved only in a group of people who are both smart and
committed. Lastly, technopreneurs know exactly how large their target market would be. This
last element is important because investors decide whether to invest or not based on the size
of target market of the business.

The impact of technopreneurship is comparable to a domino effect whether on a minor or

major scale. Businesses under this type of entrepreneurship like Google, Facebook and Twitter
help in boosting the economy of the countries from which they can be found. They create
billions of dollars of revenue which enables them to expand their businesses across the globe.
Upon their business expansion, more job opportunities can be created, and investors will be
attracted to their countries. On a smaller scale, technopreneurs are the one we should be
thanking for the hassle-free work environment that we are experiencing right now. Because of
their inventions, we can now work or study whenever and wherever even in the comfort of our
own houses.