CHAPTER 1: INTRODUCTION AND IMPORTANCE OF TECHNOPRENEURSHIP

Topic 1: Definition

Technology is the application of scientific knowledge for practical purposes.

ENTREPRENEURSHIP

- Entrepreneurship was given variety of definitions by different people such as: Howard Stevenson,
who said that it is the pursuit of opportunity beyond resources controlled; Roy Thurik and Sander
Wennekers, who said that it it the manifestation of ability and willingness of individuals on a team or
individual; and William Baumol, who defined it as all kinds of opportunity seeking behavior.
- In general, entrepreneurship is the practice of embarking on a new business or reviving an existing
business by pooling together a bunch of resources in order to exploit new found opportunities.
- Entrepreneur, on the other hand, is the innovator or developer who recognizes and seizes
opportunities, converts these opportunities into workable/marketable ideas; adds value through
time, efforts, money or skills; assumes the risks of the competitive marketplace to implement these
ideas; realizes the rewards from these efforts.
- Engineering entrepreneurs organize, manage, and assume risk of an engineering business enterprise
They solve problems that exist in the market and create long term value.
- Two types of engineer entrepreneurs are adaptor and inventor, who do things better which includes
cheaper products with higher quality and do things differently which could be risky but new,
respectively.

Types of Entrepreneurship

- There are different types of entrepreneurship that are: based on risks— innovative
entrepreneurship, imitative entrepreneurship, fabian entrepreneurship, and drone
entrepreneurship; based on type of business— agricultural entrepreneurship, manufacturing
entrepreneurship, trading entrepreneurship; based on use of technology— technical
entrepreneurship and non-technical entrepreneurship; based on ownership— corporate
entrepreneurship, private entrepreneurship, state entrepreneurship, and joint
entrepreneurship; based on size enterprise— micro enterprise, small-scale enterprise, medium-
scale enterprise, and large-scale enterprise; based on gender— women entrepreneurship; based
on social problems— social entrepreneurship.

TECHNOPRENEURSHIP

- Technopreneurship is a term that describes the entrepreneurial activity that involves technology.
- Technopreneurs use tech expertise to innovate and create valuable products or services, blending
entrepreneurship and technology to solve problems across domains.
- Technopreneurship isn't just high-tech entrepreneurship; it's a unique form demanding a distinct
mindset. Technopreneurs seek opportunities and thrive in the dynamic, competitive tech
environment.

Types of Technopreneurship

- Two types of technopreneurship includes technology developers or the inventors and technology
users or the innovators.
 Technopreneurship Ventures

- Human resources which consists of a: thinker— someone who considers important subjects or
produces new ideas; researcher— a person who may either be an idea generator or an
innovator; developer—implementor, technical people, marketing people, and financers.
- Environment which composed of science parts and incubation center, academic institutions,
internet access, communication services and geographic accessibility.
- Law and Policy such as intellectual property rights, technology licensing office and legal services.
Intellectual property rights, as described as the rights given to persons over the creations of their
minds such as patent, copyright, franchising, and trademark.
- Financial resources includes investor, business sector and financial services. An investor is an
individual or entity committing capital with the anticipation of financial returns. On the other
hand, a business sector refers to distinctions between businesses based on industry or sector.
Classification methods may include corporate, nonprofit, and government organizations, as per
some economists.

CORRELATION OF ENTREPRENEURSHIP AND TECHNOPRENEURSHIP

- In business and innovation, the terms "technopreneur" and "entrepreneur" are frequently used.
While both share a willingness to take risks and passion for their work, the key difference lies in their
focus. Technopreneurs leverage technological expertise, emphasizing innovation in products or
services. Entrepreneurs, on the other hand, encompass a broader spectrum of businesses and
ventures beyond the tech realm.
- Technopreneurs specialize in conceiving, developing, and promoting technology products, typically
with a background in technology or engineering. Proficient in areas like software development,
artificial intelligence, robotics, or biotechnology, they leverage technical expertise to craft innovative
solutions, capable of disrupting established industries or spawning new ones.
- On the other hand, entrepreneurs, distinct for seizing opportunities and taking calculated risks,
establish and run their own firms. Experts in their fields, they leverage their knowledge to create
successful businesses, showcasing leadership in team management, strategic decision-making, and
adaptation to market changes.

DIFFERENCES BETWEEN A TECHNOPRENEUR AND ENTREPRENEUR

Though technopreneurs and entrepreneurs share some similarities, notable differences still set them apart:

1. Focus on Technology - Technopreneurs prioritize creating and commercializing new technology with
in-depth technical expertise. Entrepreneurs, on the other hand, initiate businesses across various
industries, showcasing a broader understanding of general business practices.
2. Background and Experience - Technopreneurs specialize after studying engineering or research, while
entrepreneurs, with diverse backgrounds, possess versatile knowledge for successful firm
management.
3. Funding and Resources - Entrepreneurs often start with fewer resources, able to bootstrap their
businesses, while technopreneurs may require more capital. Technopreneurs need strategic plans
for securing funding and forming collaborations with other businesses or investors.
4. Intellectual Property and Branding - Technopreneurs focus on securing intellectual property, while
entrepreneurs emphasize branding and advertising to stand out.
 5. Staying Up to Date - Entrepreneurs monitor market trends, technopreneurs stay current on tech
advancements, both needing a deep understanding of their target market and effective outreach
methods.

SIMILARITIES BETWEEN A TECHNOPRENEUR AND ENTREPRENEUR

- Both technopreneurs and entrepreneurs share the ability to think innovatively, avoiding
conventional approaches, allowing them to stay competitive in their industries:

1. Risk-taking - Both technopreneurs and entrepreneurs share the admirable trait of taking risks by
investing time, money, and resources into ideas or ventures without a guaranteed success.
2. Innovation - Both technopreneurs and entrepreneurs are driven to innovate and create, constantly
seeking ways to dominate their industries.
3. Flexibility - Flexibility and adaptability are crucial for success, prompting adjustments based on
changing circumstances and market conditions.
4. Persistence - Persistence and resilience are vital for both technopreneurs and entrepreneurs to
overcome challenges and setbacks, allowing them to stay committed to their vision in the face of
adversity.
5. Vision - Driven by a strong vision and a desire to make a difference, both technopreneurs and
entrepreneurs share common traits. Being prepared for either role is crucial, with a strong
educational foundation being a vital step.

TOPIC 2: BRIEF HISTORY/ EVOLUTION OF TECHNOPRENEURSHIP

THE BIRTH OF TECHNOPRENEURSHIP: ORIGINS AND EARLY INNOVATORS

- Technopreneurship's foundations lie in the industrial revolution, marked by pioneers like Thomas
Edison and Nikola Tesla. Their groundbreaking inventions, such as Edison's electric light bulb and
Tesla's alternating current system, revolutionized industries, integrating entrepreneurship with
technology.
- Thomas Edison, Nikola Tesla, Alexander Grahambell and Guglielmo Marconi were just some
inventors who started the birth and progress of technology.

EVOLUTION OF TECHNOPRENEURSHIP

1. The Seed-Era of Technopreneurship (1970-2000)

- The Seed Era, marking the dawn of technopreneurship, is characterized by the establishment of
electronics technology and the Internet. Electronics entrepreneurs operate business units, driven by
an intrinsic attraction to electronic gadgets and a desire to become industry entrepreneurs, staying
updated on the latest developments.
- Radios, television, stereos, computers, transistors, and integrated circuits were some of the popular
electronic devices that were invented.
- Terms like internet of things, internet entrepreneurship, online shopping, and e-commerce started in
this era.

2. The Startup Era of Technopreneurship (2001-2015)

  During the Start-up Era, numerous innovative practices leveraging internet technology emerged,
encompassing new digital technologies like open source, social media platforms, mobile, LTE,
and cloud computing.
 After a swift recovery post the dot-com bubble burst, users embraced new market
developments. Renewed platforms not only provided additional ways for electronic interaction
but also enabled active participation and extensive data sharing on the Internet. Termed as
internet entrepreneurship and e-entrepreneurship, these digital advancements in this era differ
from the term technopreneurship, as the focus shifts towards the digitalization of business
processes, models, and environments. This signifies a notable increase in user involvement with
the Internet.
 The Startup Era reveals new opportunities compared to the Seed Era, with a notable rise in
open-source software in entrepreneurship on internet technology.

2001- Wikipedia was introduced

2004 – Facebook was introduced

2005 – YouTube was introduced

2006 – Twitter and Spotify were introduced

2008 – Airbnb was introduced

2009 – Uber, WhatsApp, and Pinterest were introduced

2010 – Instagram was introduced

3. The Expansion Era of Technopreneurship (2016- Present)

 The Expansion Era of Technopreneurship marked global penetration of new digital technologies,
introducing digitalization into various aspects of individuals' lives. Big data played a pivotal role,
especially with the dominance of GAFAM firms (Google (Alphabet), Apple, Facebook (Meta),
Amazon, and Microsoft) in handling vast electronic data.
 This era, characterized by terms like Internet entrepreneurship and digital entrepreneurship, saw
significant developments in technopreneurship, driven by technologies like Artificial Intelligence (AI)
applied across industries, from manufacturing to pharmaceuticals.
 Post-2020, the focus on digital technologies intensified during the COVID-19 pandemic, with a 60
percent surge in internet traffic. Alongside economic challenges, this era expanded the scope of
entrepreneurship, fostering everyday entrepreneurship through digital technologies. This evolution
in technopreneurship contributes to the broader transformation of the entrepreneurship
phenomenon.

Topic 3: Global Technopreneurs and Filipino Technopreneurs and their Innovations

GLOBAL TECHNOPRENEURS

- Elon Musk, founder of SpaceX, Tesla, Neuralink, and the Boring Company; Jeff Bezos, founder of
Amazon, Blue Origin, and the Washington Post and Marck Zuckerberg, founder of Facebook,
Instagram, WhatsApp and Oculus VR are just some of the known technopreneurs across the world.
FILIPINO TECHNOPRENEURS

- Filipino technopreneurs use technology to create and innovate, showcasing expertise in knowledge
management and resource mobilization for targeted business or social goals.
- Diosdado Banatao, the inventor of the first single-chip 16-bit microprocessor-based calculator; Joey
Gurango, founder of software companies and Orlando Vea, co-founder of Smart Communications
and CEO at PLDT are some of technopreneurs who came from the Philippines.

TOPIC 4: IMPORTANCE OF TECHNOPRENEURSHIP

- In first-world countries, technological advancements simplify daily life, fostering the importance
of technopreneurship. Flourishing technopreneurs make a significant impact nationally and
internationally, contributing to industry growth and a sustained competitive edge in the global
market.

Anyone who aims to be a great technopreneur needs to acknowledge the value of

technopreneurship:

1. It supports the beneficial and long-term development of technology through goods and services.
2. Opens up access to technological advancement for many people.
3. Leads to increased employment opportunities, especially in MSMEs (micro, small, and medium-
sized businesses).
4. It also supports market and economic growth.
5. Encourages the adoption of an entrepreneurial mindset.

- Creating Employment Opportunities, Local Resources, Business Diversification and

Decentralization, Technological Advancement, Capital Formation, Promotion of Entrepreneurial
Activities are also some of the importance that the technopreneurship can offer holistically.

TOPIC 5: CHALLENGES OF TECHNOPRENEURSHIP

- Digitalization offers promising opportunities but also raises uncertainties about the expansion of
transformative technologies. Here are the challenges for technopreneurs in this digital era:

1. Unexpected rapid technological changes affect technopreneurship: Digital technologies evolve

faster than the regulations or social structures that govern them. This rapid change can make
techno companies outdated, leading to high expenses for technical updates and staff training.
2. Technopreneurs need to build new regulatory frameworks and standards: New rules may be
needed to address problems in digital markets where there's unequal information, like when
personal data is exchanged for "free" digital products or services.
3. Regulatory enforcement challenges technopreneurship: Digitalization makes it harder to figure
out who is responsible for harm caused by technology, challenging traditional ideas of liability
and regulatory enforcement.
 4. Institutional and transboundary challenges for technopreneuship: The traditional rules and
institutions based on specific sectors struggle to handle the broader challenges posed by
digitalization.
5. Cybersecurity issues and other cyber risks for technopreneurship: Cybercrimes are common, and
hackers often use malware and viruses to remotely control technologies, accessing and sharing
confidential data.
6. Human capacity development and tech teams complacency for technopreneurship: Employees
with fewer skills face challenges in the fast-paced Fourth Industrial Revolution. Tech teams must
address complacency as a major issue.
7. Infrastructure and government policy for technopreneurship: Technology infrastructures include
the facilities, equipment, and support services needed to develop and test technology before it
enters the competitive market.
8. Wide skill gaps in technopreneurship: Technology is a valuable tool for businesses to achieve
goals efficiently, but its impact depends on having skilled specialists to use it effectively.
9. The rise of robotics will affect technopreneurship: Executives can benefit from using robotics and
automation to support their staff, but a careful strategy is crucial to maintain the right balance
between humans and technology.
10. Regaining trust is a challenge for technopreneurship: While firms heavily depend on technology,
there's low trust due to misinformation and increased cyber-attacks. People are worried about
the future and scrutinizing every tech purchase.

TOPIC 6: TECHNOPRENEURIAL SKILLS AND MINDSET

- Having essential skills and qualities will set the technopreneur apart as the visionaries of digital
age.
- These characteristics includes tech-savviness, visionary thinking, adaptability, risk-taking,
problem-solving skills, market awareness, networking abilities, digital marketing mastery,
financial acumen, and innovation mindset.

TOPIC 7: MAIN FOCUS/ OBJECTIVE/ PURPOSE OF TECHNOPRENEURSHIP

- Technopreneurship is a process that uses technology to create innovations for organizations and
the world. It helps reduce costs for businesses.

The Main Focus of Technopreneruship

- Hi-tech ventures in Information and Communication Technology, the internet, life services,
electronics, and biotech.
- Service firm where the main mission is technology.
- Designing hi-tech products such as computer hardware or devices.
- Use of technology in the delivery of normal business activities.
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