Question One

Explain the technopreneurship in detail, also write down 2 examples from the Aviation industry.
Answer:
Technopreneurship is a dynamic process that involves change and creation. It is a form of
Entrepreneurship and business leadership focused on identifying high potential, technology
intensive business opportunity for possible exploitation into new products, processes or services.[
CITATION Zai16 \l 1033 ]

Technopreneurship is a combination of “technology” and “entrepreneurship”. The technology is

evolving with time so there is always a place for innovation. The entrepreneur is a person
capable of analyzing the opportunity, taking risks, hardworking, passionate and able to execute
the idea in an efficient way. [ CITATION Rub15 \l 1033 ] A technopreneurship will learn from
customer experience, the technology will get better as the flaws in it will be identified by the
customers.[ CITATION DrB18 \l 1033 ]

A Technopreneur is a person who finds a need for technology that ease the life of people and
intelligently execute the idea. The idea can be a new innovation in an existing market or it can be
an entirely new market. The idea can be a product (hardware/software). For example Bill gates,
Steve jobs and Mark Zuckerberg are some successful technopreneurs who creates electronic
devices and social media platforms. [ CITATION Luc16 \l 1033 ]

In aviation, the technology is evolving with time. The aircrafts have become faster, less noisier,
safe and efficient mode of travel. The downtime have been reduced. There are new
technopreneurs emerging in the field of aviation. For example:

Boom Supersonic:
It is an US based aircraft manufacturing company founded in 2014 by Blake Scholl, Joe wilding,
Josh Krall. The company aims to develop a supersonic passenger aircraft that can travel at Mach
2.2 by 2023. The company also had $158M of funding.[ CITATION Dav19 \l 1033 ]

They are developing a delta wing aircraft named “Overture” that can carry 55-75 passengers.
According to “Boom supersonic” a supersonic flight will cost as same as business class subsonic
flight which will be cost effective. Japan airlines and Virgin had also pre-ordered 30 aircrafts.
[ CITATION Boo20 \l 1033 ]

This will be a faster mode of transportation between different cities. After the end of Concorde
jets, there is an opportunity in this market. This technological advanced aircraft will be cost
effective and faster mode of travel.
Lilium Gmbh:
It is a Germany based company founded in 2015 by students Daniel Wiegand, Sebastian Born,
Matthias Meiner and Patrick Nathen that had recently tested their products prototype of all
electric jet with vertical take-off and landing (VTOL). It is a five seater aircraft with a range of
185 miles. It is expected to launch it by 2025. It will be a ride hailing service. They will be
offering an app by which customer can book their ride and travel nearby locations. The company
had $101M of funding.[ CITATION Dav19 \l 1033 ]

There is an opportunity in it. As there is a lot of traffic on roads now a days and people need to
get to their locations on time. This will be an effective mode of travel in major cities around the
globe.

References
Balachandran, D. B. (2018, May 3). Entrepreneur. Retrieved from Entrepreneur:
https://www.entrepreneur.com/article/312888

Hettena, D. (2019, 7 31). Rocket space. Retrieved from Rocket space:

https://www.rocketspace.com/corporate-innovation/6-aerospace-startups-to-watch-in-2019

husna, Z. (2016, Feb 4). Youtube. Retrieved from Youtube: https://www.youtube.com/watch?

v=gCwNLOIc1do

Licera, R. (2015, Feb 26). Rubenlicera. Retrieved from Rubenlicera: https://rubenlicera.com/what-is-

technopreneurship/

supersonic, B. (2020). Boom supersonic. Retrieved from Boom supersonic:

https://boomsupersonic.com/overture

Watson, L. (2016, march 22). Medium. Retrieved from Medium:

https://medium.com/@luckywatson/the-importance-of-technopreneurship-today-
52348cf2311e