Course Title: TECHNOPRENEURSHIP

Course Description:

This course covers the principles and theories of technopreneurship. Students are
expected to develop and implement a feasible IT business plan.

CHAPTER 1 BASICS OF TECHNOPRENEURSHIP

1. What is technopreneurship?
 A technology-based enterprise is one that derives a competitive
advantage from direct or indirect use of technology.

 The term technopreneurship is a combination of the words 'technology'

and 'entrepreneurship'. It is a type of technology-related
entrepreneurship. However, unlike entrepreneurship which may often
be a one-person show, it requires tech-savvy, creative, imaginative
people who can take on a calculated risk.

2. Importance of technopreneurship
 Technopreneurs play a significant role in the economy because they
use technology to create and improve goods, services, and
manufacturing processes. These include ICT and multimedia SMEs,
seed-stage ICT and multimedia businesses, and ICT and multimedia
start-ups.

3. Entrepreneurship vs.Technopreneurship
 Entrepreneur refers to a person who set up own business with a new
idea or concept that uses own resources raised by himself and creating
a leading position in the market.

 Intrapreneur refers to an employee of the organization who is incharge

of undertaking innovations in product, service, process and others that
uses resources provided by the company. They change and renew the
existing organizational system and culture.

 Technopreneurs are entrepreneurs that using technology. They are

usually developers, has a greater potential for success and they
generally need generalists. Technopreneurs often need people with
broader skill sets.

 Innovator is a person who introduces new methods, new products, and

new ideas or ways of doing things.

 Manager is someone who manages or takes charge of company or

organization. A manager often has a staff of people who report to him.
4. Types of entrepreneurship

1. Small Business

The Small Business Administration (SBA) says that more than 99% of all U.S.
businesses are considered small businesses, and a majority of them are
entrepreneurial ventures. These could be anything from a restaurant to a retail
store to a service provider that is local. They typically don’t have any intention
of becoming a chain or franchise. These are the pizza places, dry cleaners,
daycares, and self-employed individuals. Most small business entrepreneurs
use their own money to get things started and only make money if they are
successful in their venture.

2. Scalable Startups

A scalable startup attempts to grow quickly and become a profitable company.

While less common than small businesses, these startups have a tendency to
gain a lot of attention when they become successful. They typically start in an
attic, a garage, a dorm room, or study room on campus, as an idea that’s
being tossed around. These small scale concepts end up gaining investors
which allow them to grow and scale up. This is what most folks think of when
they hear “startup” or “entrepreneur” and get visions of Silicon Valley tech
companies.

3. Intrapreneurship

Think of a company like Alphabet (Google) which owns several other

companies, but has also started a few of their own. There are times when
entrepreneurs work within a larger company as an employee, but see
potential to spin off new products or services that take on a life of their own.
These intrapreneurs utilize an entrepreneurial mindset to employ the
resources their current employer has available to them. Thinking outside the
box, they continue to solve potential problems for current and future
customers. This model allows entrepreneurs the opportunity to hit the ground
running thanks to support from a larger backer.

4. Social Entrepreneurship

Human created issues sometimes call for innovative community-based

solutions. Social entrepreneurs seek to create a positive change with their
actions. By launching an initiative or non-profit organization, whose primary
purpose is to help people and not make money, these individuals strive to be
the change they want to see in the world. Some topics these organizations
focus on include racial justice, environmental conservation, or serving
underserved communities in one way or another.

5. Characteristics of Entrepreneurship and technopreneurship

SIMILARITIES
 Able to determine risk and has the courage to take risks
 Independent and self-confident, yet knows where to get help
 Likes a challenge
 Hardworking and willing to stick with a project
 Not easily discouraged
 Robust, very energetic and can handle stress
 Has a strong sense of self-worth
 A positive thinker who does dwell on setbacks
 Often has a close friend or relative who owns a business

6. What makes entrepreneur a technopreneur?

 Anything technopreneurial revolves around technology and
things technical. Anything that gets out from this domain can’t be
classified as technopreneur but it can be entrepreneur
nonetheless.

 For example, Bill Gates, Sergey Brin and Larry Page are
technopreneurs. In our society, we don’t do serious
specifications around entrepreneurship. Anyone who does
something bold and succeeds commercially is coined as a great
entrepreneur. No matter which industry.