Definition of Technopreneurship and Entrepreneurship

Technological Entrepreneurship

•   Entrepreneurship in a technology - intensive context.
•  Process of merging technology process and entrepreneurial talent and skills. 

Who is Technopreneur?

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

- Someone who perceives an opportunity and creates an organization to pursue it.

- Person who undertake risks ( by creating an enterprise or business) that has a chance of profit or success technopreneurship 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)

- A bold, imaginative, deviator from established business methods who constantly seeks the opportunity to commercialize new products, technologies processes and arrangements (Baumol, 2002)

- Distinguishes logic from tradition, common tradition from prejudice, prejudice from common sense and common sense from non sense while integrating variety of ideas from diverse groups and discipline (Manuel cereijo, 2002)

- Skilled in applied creativity thrive in response to challenge and lack for unconventional solutions. They experience challenges , creative visions solutions,  build stories that explains their visions for and then act to the part of the solutions. They forge new paths and risk failure, but persistently seek success (Dorf and Byers, 2005)

What is Entrepreneurship?

- A way of thinking and acting that is opportunity obsessed, holistic in approach and leadership balanced for the purpose of the wealth creation (Babson's Definition)

- Creative destruction, dynamic disequilibrium brought on by the innovating entrepreneur rather than equilibrium and optimization is the norm of a healthy economy and the central reality of economic theory and practice (Schumpeter, 1934)

- Entrepreneur searches for charges responds to it, exploits it is an opportunity, innovation is the specific tool of entrepreneurs  the means by which the exploit change as an opportunity for a different business or a different service (Drucker, 1985)

- Pursuit of opportunity without regard to the resources currently under one's control (Stevenson)

What is Technopreneurship?

"Creating the NEW and destroying the OLD"

                - new knowledge

                - new products

                - new processes

                - new services

                - new market

                - new business

Entrepreneurial Process  vs         Technopreneural Process

Opportunity Analysis                      Idea Generation

Business planning                            Idea Screening

Gathering Resources                      Concept Testing

Implementation                                  Business Analysis

Scaling and Harvesting                   Prototyping

Everything starts on idea              Commercialization

                                              Monitoring and Evaluation

                                        Everything starts on an opportunity

Technopreneur and the Economy

Technopreneurs as agents of economic growth

Natural Capital  --->       Economy              <--Beneficial Outputs(maximized)

Entrepreneurs as an      

Financial Capital --->   agents of progress <--- Undecided Waste Output(minimized)

Intellectual Capital --->                      <--- Increase Safety

3 Elements of Intellectual Capital

•         Human Capital - skills, capabilities and knowledge of the firms people
•          Organizational Capital - patents, technologies, processes, database    and networks
• Social Capital - quality of the relationships with customers, suppliers and partners.

4 Types of Entrepreneurship

• Incremental - routine business, modest industry. Example: new coffee shop
• Immitating - limitation of a venture, same business model and template. Example: new regional branch and franchise operation
• Rent seeking - business that utilizes standards, regulation and laws to show on value of an enterprise. Example: licensing of patented ideas, products or trade secrets.
• Innovating - business type based on innovation. Example: new cure for infectious disease, new DVD format, new memory chip, new ICT enhance home appliance

Technopreneruship Definition Part II

• Hightech ventures in ICt, electronis, internet, life sciences and BIOTECH. Example: CISCO, Nano Tech
• Service firm where technology is critical to their mission, business that provides services.
•  Delivery or design of hightech products like computer hardware or devices.
• Use of technology in the delivery or conduct of normal business activities.

Sucessful Technoprenuership is equal to HELF

Human Resources                                           Laws & Policies

                                Techno Ventures

Environmental                                                  Financial Resources

Human Resources Components

·         Research

·         Thinker

·         Idea Generator

·         Innovator

Development

·         Implementation

·         Technical People

·         Marketing People

·         Financers

Environmental Components

·         Science Parts

·         Incubation Center

·         Academic Institution

·         Research Development Center

·         Internet access and communication and other support services

·         Geographic Accesibility

Laws and Policy Components

·         Intellectual property rights

·         Technology licensing office

·         Legal Services

Financial Components

·         Investors

·         Financial Services

·         Business Sectors

·         Funding Agencies