TECHNOPRENEURSHIP

In this era of accelerating economic globalization, advances in science, technology and

engineering continue in a split second. This occurrence does not only affect a limited aspect.
Entrepreneurship is one of the biggest elements in the global economy and through this breakthrough
in Information and Communication Technology advancements, it has evolved and technopreneurship
came in.

Before we dive in to what technopreneurship means, we must first be able to understand the
fundamentals. Firstly, what does entrepreneurship means; Entrepreneurship an act of creating a
business or businesses while building and scaling it to generate a profit. Peter Drucker (1985) stated in
his book that the practice of consistently converting good ideas into profitable commercial ventures.
Moreover, entrepreneurship is how an individual make their profession and dreams into their hands and
lead it toward the path they need. Secondly, what and who is an entrepreneur; generically, an
entrepreneur is a person who sets up a business with the aim to make a profit.

Withal, technopreneurship applies the same concept and definition but not exactly.
Technopreneurship is about delivering an innovative hi-tech product or makes use of hi-tech in an
innovative way to deliver its product to the consumer or vice-versa. In a study conducted by Fowosire, R.
A, Idris, O.Y & Opoola Elijah (2017) entitled Technopreneurship: A View of Technology, Innovations and
Entrepreneurship defined technopreneurship as a cycle of amalgamation, instead of a product, in
engineering the future of an individual, an association, or the world, rather. As the world transitions to
more modern set-up, strategic directions or decision-making processes are becoming more arduous and
complicated.

Furthermore, the researchers also indicated in their paper that technopreneurs are
entrepreneurs, which are primarily the small, medium, and big enterprise Information and
Communication Technology and multimedia companies. They play a pivotal role as technopreneurship
will accelerate and expand businesses as well as its people, this will also cause growth and development
of entrepreneurs in the knowledge-based economy
References

Fowosire, R., Idris, A., & Oopla, E. (2017). Global Journal of Researches in Engineering: F

Electrical and Electronics Engineering. Technopreneurship: A View of Technology,

Innovations and Entrepreneurship, 17(7), 2.

https://globaljournals.org/GJRE_Volume17/5-Technopreneurship-A-View-of-

Technology.pdf

Drucker, P. (1985). Innovation and entrepreneurship (1st ed.). Harper & Row.