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IntroductiontoTechnologyIntroductiontoTechnologyIntroductiontoTechnologyIntroduc tiontoTechnologyUNIT1UNIT1IntroductiontoTechnolgyIntroductiontoTechnologyEntrepr eneurshipEntrepreneurshipIntroductiontoTechnologyIntroductiontoTechnologyEntrepr eneurshipEntrereneurshipIntroductiontoTechnologyIntroductiontoTechnologyIntroduc tiontoTechnologyIntroductiontoTechnologyUNIT1UNIT1IntroductiotoTechnologyIntrodu ctiontoTechnologyEntrepreneurshipEntrepreneurshipIntroductiontoTechnologyIntrodu ctiontoTechnologyEntrepreneushipEntrepreneurship

W WWh hha aat tti iis sst tte eec cch hhn nno ool llo oog ggi iic cca aal lle een nnt ttre rerep ppre reren nne eeu uur rrs ssh hhi iip pp? ?? aprocessomernogy sirmahfuz2 ItisaprocessofmergingtechnologyprowessandentrepreneurialtalentandskillsT echnology+Entrepreneurship=Technopreneurship1/25/2011 It is simply entrepreneurship in a technology-intensive context It is f ging techlo

T TTh hhe eet tte eec cch hhn nno ool llo oog ggi iic cca aal lle een nnt ttre rerep ppre reren nne eeu uur rrs ssh hhi iip ppc cco oon nnt tti iin nnu uuu uum mm PROD UCTS

Entrepreneurship M A R KK E T S

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W WWh hho ooi iis sst tth hhe eet tte eec cch hhn nno oop ppre reren nne eeu uur? r?r?

A person who destroys the existing economic order (creative destruction) by introducing new products and services, by creating new forms of ii dblii il organizations and by exploiting new raw materials (Schumpeter, 1934)

Someone

who perceives an opportunity and creates an organization to pursue it. 1/25/2011 sir mahfuz

W WWh hho ooi iis sst tth hhe eet tte eec cch hhn nno oop ppre reren nne eeu uur? r?r? A person who undertakes risks (by creating an enterprise or business) that has the chance of profit (or success). Technopreneurs distinguishes themselves through their ability to accumulate and manage knowledge, as well as their ability to mobilize resources

to achieve a specified business or social goal (Kuemmerle, 2002) 1/25/2011 sir mahfuz

W WWh hho ooi iis sst tth hhe eet tte eec cch hhn nno oop ppre reren nne eeu uur? r?r?

The technopreneur is a bold, imaginative deviator from established business methods and practices who constantly seeks the opportunity to sirmahfuz6y ppy commercializenewproducts,technologies, processes,andarrangements(Baumol,2002) 1/25/2011

W WWh hho ooi iis sst tth hhe eet tte eec cch hhn nno oop ppre reren nne eeu uur? r?r?

The technopreneur distinguishes logic from tradition, tradition from prejudice, prejudice from common sense and common sense from hil i i i fid f nonsense while integrating a variety of ideas from diverse groups and disciplines

(Manuel Cereijo, 2002) 1/25/2011 sir mahfuz

W WWh hho ooi iis sst tth hhe eet tte eec cch hhn nno oop ppre reren nne eeu uur? r?r? Technopreneurs are skilled in applied creativity, thrive in response to challenge, and look for unconventional solutions. They experience challenges, create visions for solutions, build t i th t li th i ii dth tt stories that

explain their visions, and then act to be part of the solution. They forge new paths and risk failure, but persistently seek success (Dorf and Byers, 2005).

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W WWh hha aat tti iis sse een nnt ttre rerep ppre reren nne eeu uurs rsrsh hhi iip pp? ?? A way of thinking and acting that is opportunity obsessed, holistic in approach and leadershipbalanced for the purpose of wealth creation(Babson s definition) evetuc Entrepreneurship isEntrepreneurship is ccrreaattiivededesstrructtiioonn. DynamicDynamicdisequilibrium brought on by the innovatingentrepreneur, rather than equilibrium

andoptimization, is the norm of a healthy economy andthe central reality of economic theory and practice(Schumpeter, 1934)

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W WWh hha aat tti iis sse een nnt ttre rerep ppre reren nne eeu uurs rsrsh hhi iip pp? ?? The entrepreneur searches for change, responds to it, and exploits it as an opportunity. Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity f diff b i diff i for

a different business or a different service (Drucker, 1985)

Entrepreneurship is the pursuitofopportunity without regard to the resourcescurrently under one s control (Stevenson) 1/25/2011 sir mahfuz 10

W WWh hha aat tti iis sse een nnt ttre rerep ppre reren nne eeu uurs rsrsh hhi iip pp? ?? Creating the New and destroying the Old New knowledge New products N New processes

New services New markets New business models New raw materials 1/25/2011 sir mahfuz

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E EEn nnt ttre rerep ppre reren nne eeu uur rri iia aal llp ppro roroc cce ees sss ssv vvs ss. .. T TTe eec cch hhn nno oop ppre reren nne eeu uur rri iia aal llp ppro roroc cce ees sss ss Entrepreneurial process Opportunity Analysis Business Planningg Gathering Resources Implementation Scaling and Harvesting

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E EEn nnt ttre rerep ppre reren nne eeu uur rri iia aal llp ppro roroc cce ees sss ssv vvs ss. .. T TTe eec cch hhn nno oop ppre reren nne eeu uur rri iia aal llp ppro roroc cce ees sss ss Technopreneurial process Idea Generation

Idea Screening Concept Testing Business

Analysis Prototyping Test Marketing

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Monitoring & Evaluation sir mahfuz 13

T TTe eec cch hhn nno oop ppre reren nne eeu uur rr a aan nnd ddt tth hhe eeE EEc cco oon nno oom mmy yy Technopreneurs as agents of economic growth Natural capital ECONOMYEntrepreneursasagentsofprogress Beneficial outputs (Maximized) Financial capital Undesired waste Outputs Intellectual capital (Minimized) Increase

Safety 1/25/2011

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T TTe eec cch hhn nno oop ppre reren nne eeu uur rr a aan nnd ddt tth hhe eeE EEc cco oon nno oom mmy yy Three elements of the intellectual capital Human capital The skills, capabilities, and knowledge of the firm s people. Organizational capital The patents, technologies, processes, databases and networks

Social capital The quality of the relationships with customers, suppliers and partners 1/25/2011

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T TTe eec cch hhn nno oop ppre reren nne eeu uur rr a aan nnd ddt tth hhe eeE EEc cco oon nno oom mmy yy Relationship between Economic Growth intellectual and entrepreneurial capital towards entrepreneurial activity and economic activity and economic Entrepreneurial Activity growth

I Intellectual

Capital + Entrepreneurial Capital i 1/25/2011 sir mahfuz 16

Entrepreneur Likestocompete Isaself-starter Isabletodomanythingsatonce Iscreative,andhas dreamsandgoals LikestoworkforhimorherselfandbeincontrolEntrepreneur Likestocompete Isa self-starter Isabletodomanythingsatonce Iscreative,andhasdreamsandgoals Likestoworkfor himorherselfandbeincontrol Entrepreneursvs.TechnopreneursEntrepreneursvs.Technopreneurs(Differences)(Differ ences) Technopreneur Likestoinnovate Ispartofateam Isabletodomanythingsatonce,butchoosesto sirmahfuz17delegate Isinnovativeandhasagreatervision Likestobetheonetocontrolinnovati onandbepartofanevolution 1/25/2011

E EEn nnt ttr rre eep ppr rre een nne eeu uur rrs ssv vvs ss. ..T TTe eec cch hhn nno oop ppr rre een nne eeu uur rrs ss( ((D DDi iif fff ffe eer rre een nnc cce ees ss) )) Entrepreneur Ismotivatedbyastrongdesiretoachieveandattainfinancialsuccess Focuseshis /herattentiononthhfththechancesofsuccessratherthanthepossibilityoffailure Technopreneur Ismotivatedbyastrongvisionandhispassiontoinnovate Takesfailureinstride andkitillldtknowsitwillleadtosuccessifcorrectioncanbemade 1/25/2011 sir mahfuz 18

E EEn nnt ttr rre eep ppr rre een nne eeu uur rrs ssv vvs ss. ..T TTe eec cch hhn nno oop ppr rre een nne eeu uur rrs ss( ((S SSi iim mmi iil lla aar rri iit tti iie ees ss) )) Technopreneur Isabletodetermineriskandhasthecouragetotakerisks Isindependentandselfconfident,yetknowsconfident,yetknowswheretogethelp Likesachallenge Hardworkingandwil lingtostickwithaproject Entrepreneur Isabletodetermineriskandhasthecouragetotakerisks Isindependentandselfconfident,yetknowswheretoconfident,yetknowswheretogethelp Likesachallenge Hardworkin gandwillingtostickwithaproject 1/25/2011 sir mahfuz 19

E EEn nnt ttr rre eep ppr rre een nne eeu uur rrs ssv vvs ss. ..T TTe eec cch hhn nno oop ppr rre een nne eeu uur rrs ss( ((S SSi iim mmi iil lla aar rri iit tti iie ees ss) )) Technopreneur Isnoteasilydiscouraged Maintainsgoodhealth,haslotsofenergyandcanhandle stresshandlestress Hasastrongsenseofselfworth Entrepreneur Isnoteasilydiscouraged Maintainsgoodhealth,haslotsofenergyandcanhandles tress handlestress Hasastrongsenseofselfworth 1/25/2011 sir mahfuz

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E EEn nnt ttr rre eep ppr rre een nne eeu uur rrs ssv vvs ss. ..T TTe eec cch hhn nno oop ppr rre een nne eeu uur rrs ss( ((S SSi iim mmi iil lla aar rri iit tti iie ees ss) )) Entrepreneur IsapositivethinkerwhodoesdwellonsetbacksTechnopreneur Isapositivethinke rwhodoesdwellonsetbacks Oftenhasaclosefriendorrelativewhoownsabusiness Oftenhasaclos efriendorrelativewhoownsabusiness 1/25/2011 sir mahfuz 21

S SSu uuc ccc cce ees sss ssf ffu uul llt ttra rarai iit tts sso oof fft tte eec cch hhn nno oop ppre reren nne eeu uur rr

Integrity Leadership Impatient: bias toward action (with analysis) QQuick clock speedk k d il Modest ego. Seeks andaccepts coaching Willing

to be different, but knows it (not oblivious) Pragmatic: willing tocompromise Rejoices in other s victories Driven to solve a valuable Driven to solve a valuable problem for customers

Strong entrepreneurialintensity Willingness to incur thecosts of growth 1/25/2011 sir mahfuz 22

S SSu uuc ccc cce ees sss ssf ffu uul llt ttra rarai iit tts sso oof fft tte eec cch hhn nno oop ppre reren nne eeu uur rr

Willingness to use wide range of financing sources Emphasis on a team-based organizing structure Focus on innovation Focus on innovation

Committed to commercialization of technology discovery Excellent communication skills Understand the value of business principles Formation and execution of a sound business plan Raising of money Building an organizational team 1/25/2011 sir mahfuz 23

F FFa aac cct ttor orors ssl lle eea aad ddi iin nng ggt tto oo e een nnt ttr rre eep ppr rre een nne eeu uur rri iia aal lls ssu uuc ccc cce ees sss ss Ability to initiate and operate a purposeful enterprise Ability to operate within the context and industrial environment at the

time of initiation Ability to identify and screen timely opportunities Ability to accumulate and manage knowledge and technology 1/25/2011 sir mahfuz 24

F FFa aac cct ttor orors ssl lle eea aad ddi iin nng ggt tto oo e een nnt ttr rre eep ppr rre een nne eeu uur rri iia aal lls ssu uuc ccc cce ees sss ss

Ability to mobilize resources financial, physical, and human Ability to assess and mitigate uncertainty and risk associated with

the initiation of the enterprise p

Ability to provide an innovative contribution thatencompasses novelty and originality Ability to encourage a collaborative team of peoplewho have the capabilities and knowledge necessaryfor success 1/25/2011 sir mahfuz 25

S SSu uum mmm mma aar rry yy

Technopreneurship is a process through which individualsand teams bring together the necessary resources to exploitopportunities and in doing so create wealth, social benefitsand prosperity. The role of technopreneur as agent of economic growth.g g p

The technopreneur must know how to use knowledge tocreate

innovation and new firms. The level of economic prosperity of a nation is determinedby the level of entrepreneurial activity which flows from acombination of entrepreneurial capital and intellectualcapital. 1/25/2011 sir mahfuz 26

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