Importance of

Technopreneurship
IMPORTANCE OF TECHNOPRENEURSHIP

 Employment creation

 Local Resources

 Decentralization and diversification of business

 Promotion of technology

 Capital formation

 Promotion of an entrepreneurial culture

 Generate new business idea.

Able to identify the business or consumer

need.

Not limited to a certain idea but expand the idea.

What does a Identifying market needs and offering the solution.

Technopreneur   He has to ensure the technology to make the idea
do? work exists or can be developed at reasonable cost
and within a reasonable time.

 He thinks of workable idea, then bounces it to

friends or associates. After receiving feedback, and
deciding, he starts the business plan. Finally. He
tries to get financing.
 Why become a Technopreneur

 Thousands of new ventures have been set up every year around the
world and venture capitalists have invested billions of dollars into these
business.
 The internet is still in its infancy.
 Many technopreneurs are hoping that their product, service or solution will
become the industry standard in their chosen field in the same manner as
we have internet explorer for web browsing, Amazon for online book and
eBay for internet auction.
 High risk for technopreneur investment but their rewards are great such
as founders of Microsoft, Amazon and eBay and their backers.
Entrepreneur (DIFFERENCES)
 Likes to compete
 
 Is a self-started
 Is able to do many things at
once
 Is creative and has dreams
and goals
 Likes to work for him or
herself and be in control
 Is motivated by a strong
desire to achieve and attain
financial success
 Focuses his/her attention on
the chances of success
rather than the possibility of
failure
 
 
Technopreneur (DIFFERENCES)
 Likes to innovate
 Is part of a team
 Is able to do many things at
once
 Is creative and has dreams
and goals
 Likes to work for him or herself
and be in control
 Is motivated by a strong desire
to achieve and attain financial
success
 Focuses his/ her attention on
the chances of success rather
than the possibility of failure
 
 
Similarities
 Is able to determine risk and has the
courage to take risk
 Is independent and self-confident, yet
knows where to get help
 Likes a challenge
 Is hardworking and willing to stick
with a project
 Is not easily discouraged
 Maintains good health, has lots of
energy and can handle stress
 Has a strong sense of self-worth
 Has a positive thinker who does dwell
on setbacks
 Often has a close friend or relative
who owns a business
Concept of Entrepreneurship

 Various views about an ‘Entrepreneur’:

 as a risk bearer
 as an organizer
 as an innovator
 
Entrepreneurship is related to:
 coordination, innovation and performance of the entrepreneur.
 a system of creating new business.
 referred to the various activities, done for the establishment
and operation of an enterprise.
Entrepreneurs & Entrepreneurship
Definition of Entrepreneurship
 
 “Entrepreneurship is the purposeful activity of an individual or a group
of associated individuals, undertaken to initiate, maintain or aggrandize
profit by production or distribution of economic goods and services”

-
A. H. Cole
 
 “Entrepreneurship is based on purposeful and systematic innovation. It
included not only the independent businessman but also company
directors and managers who actually carry out innovative functions.”

-
Joseph A. Schumpeter
 
 “Entrepreneurship is the process by which individuals pursue
opportunities without regard to resources they currently control.”
- Stevenson & Jarillo
 
 “Entrepreneurship is the art of turning an idea into a business.”
- Fred Wilson
Increm at iv e
v
ental Inno

Entrepreneurship

Ren
ive See t
i t i at king
In
 Entrepreneurs, Invention and Innovation
Areas of Innovation
 New product
 New Services
 New Production Techniques
 New Way of Delivering the Products or Service to the Customer
 New Operating Practices
 New Means of Informing the Customer about the Product
 New Means of Managing Relationship within the Organization
 New Ways of Managing Relationship between the Organization