TECHNOPRENEURSHIP

TECHNOPRENEURSHIP

                 

The word Entrepreneur comes from French word “Entreprendre”. Entrepreneur is an individual who undertake the risk of new ventures.

What is an Entrepreneur? Entrepreneur is a people who enter into new and pioneering ventures. One example of entrepreneur is Mr. Richard Cantillon, he was a French Economist.

Why we need an Entrepreneur? In the world of business... definitely we need them.They are the persons who organize and manage any enterprise,especially a business, usually with considerable initiative and risk.Entrepreneurs are the ones who undertake innovations, finance and business acumen in an effort to transform innovations into economic goods.

The Characteristics of an Entrepreneur:

·         Hard working

·         Self- confident

·         Builds for the future

·         Profit-oriented

·         Goal-oriented

·         Persistent

·         Responds to feedback

·         Demonstrates Initiative

·         Willing to listen

·         Sets own standards

·         Copes with Uncertainty

·         Committed

·         Builds on Strengths

·         Reliable and has an Integrity

·         Risk Taker

What is an Entrepreneurship? Entrepreneurship was involves having the guts to do what you believe is right, thinking out of the box and making business out of it. 

There are 4 types of Entrepreneurship:

·         Incremental, is a routine business and modest novelty. Example of this is new coffee shop and new BPO.

·         Imitative, is an imitation of venture, same business model and template. Example of this is a new regional branch and franchised operations.

·         Rent-seeking, business that utilizes standards, regulations and laws to share in value of enterprise. One example of this is a Coca cola Export.

·         Innovative, is a business based on innovation. Example is a new memory chip.

Technology+Entrepreneur=TechnopreneurshipTechnopreneurship is an entrepreneur in the field of technology. Technopreneurship is being an entrepreneur by using existing technologies and suiting it to a new application, inventing or developing a new product.

(According to dancelfandinotechno) Technopreneurs are entrepreneurs who are into the core businesses involving technology-based industries. They make use of technology to come out with new or innovative products through a process of commercialization. The businesses are generally marked with high growth potential and high leverage of knowledge and intellectual property. Potential Technopreneurs must be equipped with both technical and business skills. Centre for Professional & Continuing Education (CPCE) is the centre responsible for coordinating, promoting, managing and supervising all activities pertaining to technopreneur development and innovation

(According to the Anonymous) Someone who uses technology will need to do something new or invents new devices and then make a business from selling these new things.

(According to Mankani,D.) There are 6 Importance of Technopreneurship. First is Employment Creation, the entrepreneur can create employment for themselves and to other people. They are employers and hence assist in solving the unemployment problem in the country. Second importance is Local Resources, when entrepreneur will utilize the local resources, the value of these resources will be increases. Third is Decentralization and diversification of business, the entrepreneurs are able to identify business opportunities and locate these businesses in suitable areas including the rural areas. Fourth is Promotion of Technology, by being creative the entrepreneurs are able to contribute to the utilization and development of technology. Fifth is Capital Formation, the entrepreneurship increases the capital formation and investment. Lastly is Promotion of an Entrepreneurial culture, by projecting successful images the entrepreneurs will become models that can be copied by young people.

To develop of a business plan, the first thing to do is you need to write a business plan, presenting and defending the business plan and adding refinements to the presented business plan.

What are the things to be considered in starting/Creating a business?
1. Financial/Capital
2.Location
3.Market
4.Profitability
5.Structure of the business

What's the difference between Entrepreneur, Technopreneur, Intrapreneur, Innovator and Manager?

Entrepreneur- organizes and manages any enterprise with or without applied technology.
Technopreneur - undertakes innovations usually with the aid of technology.
Intrapreneur -An inside entrepreneur, or an entrepreneur within a large firm, who uses entrepreneurial skills without incurring the risks associated with those activities.
Innovator -the first person to show something new and is a person or an organization who is one of the first to introduce into reality something better than before.
Manager - the one who manages and give commands ...he doesn't have to be a model to his/her employees.

Technopreneurship

          A technopreneur is an entrepreneur who is technology savvy, creative, innovative, dynamic, dares to be different an take and unexplored path, and very passionate about their work. They take challenges and strive to lead their life with greater success. They don’t fear to fail. They take failure as learning experience, a stimulator to look things differently and stride for next challenge. Technoprenuers continuously go through an organic process of continual improvement and always try to redefine the dynamic digital economy.

Most Successful and Effective Technopreneurs:

1.     Are not born, but made

2.    Is most often no a one man team. He works with a team

3.    Is trained be a mentor

4.    Is a calculated risk taker

5.    Shares the burden of responsibilities to other team member

6.    Understand the needs of the customers

7.    Has a business model in mind

8.    Understand the value of resources and where to find them

9.    Does not aim to stand out but to address a solution for a common good

10. Love what they do

According to steve jobs – You’ve  got to start  with the customer experience  and work back toward the technology – not the other way around. On May 1997 at World Wide Developers Conference.

Some basic facts about Technopreneurship:

·         Businesses start from ideas, but ideas alone do not make a business.

·         The customers do not buy ideas, they buy products or ideas.

·         Customers pay the price, value is what they get.

·         A studied approach to planning the business is needed.

·         A marketable product may not result in a viable business.

·         The entrepreneurship is calculated risk-taking ,not foolhardiness,.

Technopreneurship = entrepreneurship applied to the technology industry.

For me, it is right.  In other words, to succeed in the technology industry, you still have to apply the same principles of good entrepreneurship. A lot of people forget that. Good thing you’re reminding them of it. I hope you enjoy reading my blog thank you .