Entrepreneur v.s.

Technopreneur
● Entrepreneur - a person who always finds out the opportunities and converts it into
reality in the form of products and services to maximize profit and develop their
business.
● Technopreneur - a person who is engaged in technopreneurship creates a product or
solution that uses technological solutions to change the way of doing something in an
orthodox ways.
○ e.g., Uber - an American technology company. Its services include ride-hailing,
food delivery, package delivery, couriers, freight transportation.

Technopreneurship
- this is not a product but a procedure of synthesis to improve and innovate the future of
a person, a nation, and the globe as a whole.
- it is all about making improvements and bring ample benefits in reducing the cost of
other businesses.
- it makes easy to develop, distribute, store, process, and even access information at a
cheap cost. Physical space is covered with thousands of papers and now, it is simple to store it
as a technological element.
- “Technopreneurship comprises of identifying modern technologies and even creation of
technological opportunities by the presentation of commercial products and services.” - Blanco
(2007)
- Technopreneurship = “technology” + “entrepreneurship”
- Entrepreneurship in the field of technology.
- Combination of technological advancements and entrepreneurial skills.
- Suitable for a person who is intelligent, innovative, tech-savvy and passionate in the
calculation of risk.

Technopreneurship Trilogy
Technopreneurs
- “technopreneurs are entrepreneurs who start and manage their own technology
business”
- e.g, Bill Gates -> Microsoft; Sergey Brin & Larry Page -> Google; Jack Dorsey ->
Twitter; Steve Jobs -> Apple

Relevance of Technopreneurship
1. Creating Employment Opportunities
○ increase in the pool of job opportunities
2. Use of local resources
○ increase in value and reduce wastage
3. Business diversification and decentralization
4. Technological Advancement
5. Capital Formation
○ economic development
6. Promotion of Entrepreneurial Activities
○ inspires to grow and do start up

How to Become A Successful Technopreneur?

- it is not associated with exploring new ideas but it is about taking risks to figure out
something new.

STEPS HOW TO BECOME A TECHNOPRENEUR:

 1. Build a Team - this is not a one-man show and you always require support to turn ideas
into reality.
2. Boost Problem-Solving Skills - you ought to expect troubles at every turn.
3. Decision-Making - pick up the best strategy that is cost-effective and commercially
viable.
4. Implementation, Hard work & Determination

Main Focus of Technopreneurship

● Hi-tech ventures in information and communication technology (ICT), the internet, life
services, electronics, and biotech.
● Service firm where the main focus is technology.
● Designing of hi-tech products such as computer hardware and devices.
● Use of technology in the delivery of normal business activities.

Innovation and Ideas

Innovation Keyterms
● New
● Changes
● Novel/Original
● Ideas
● Creates value
● Improvements

Innovation
- “Innovation is taking two things that exist and putting them together in a new way.” - Tom
Freston, Co-Founder of MTV
- “What is the calculus of innovation? The calculus of innovation is really quite simple:
Knowledge drives innovation, innovation drives productivity, productivity drives economic
growth.” - William Brody, Scientist
- “Creativity is thinking up new things. Innovation is doing new things.” - Theodore Levitt,
Renown Economist
- “You can’t wait for inspiration, you have to go after it with a club.” - Albert Einstein,
Mathematician
- “I have not failed. I’ve just found 10,000 ways that won’t work.” - Thomas Edison,
Inventor
- “There’s a way to do it better. Find it.” - Thomas Edison, Inventor
- “The riskiest thing we can do is just maintain the status quo” - Bob Iger, Media Executive
& Businessman
- “When the winds of change blow, some people build walls and others build windmills.” -
An Ancient Chinese Proverb
- “Innovation- any new idea- by definition will not be accepted at first. It takes repeated
attempts, endless demonstrations, monotonous rehearsals before innovation can be
accepted and internalized by an organization. This requires courageous patience.” -
Warren Bennis, Scholar and Organizational Consultant
 - “A new or improved product or process (or a combination thereof) that differs
significantly from the unit’s previous products or processes and that has been made
available to potential users (product) or brought into use by the unit (process).” - Oslo
Manual, An International Reference Guide for Innovation

Types of Innovation
1. Organizational Innovation - the development of a new organizational strategy that will
somehow change a company’s business practices, as well as the way its workplace is
organized and its relationship with external stakeholders.
○ four-day week working schedule
○ work from home
2. Process Innovation - it’s about implementing a new or improved production or delivery
approach, including changes in operational methods, the techniques used and the
equipment or software.
○ SaaS (Software as a Service) Technology
○ Online Booking/Application
3. Product Innovation - the introduction of a new or improved good or service. These
inventions or changes may have to do with improving technical specifications, the
materials or the software used or even advancing on UX (user experience)
○ Lego has been changing the materials of its famous bricks to biodegradable
oil-based plastics
○ Electric vehicles
○ New batteries with longer ranges
4. Marketing Innovation - developing a new marketing strategy that produces changes in,
for instance the way a product is designed or packed, or even other decisions regarding
price or promotion.
○ New waste free containers
○ Easy-open can
○ Paper straw
5. Eco-innovation - an innovation resulting in significant progress towards the 2030 goals
sustainable development established by the UN. In practice, it means reducing the
impacts of our production modes on the environment, improving nature’s resilience to
environmental stresses, or achieving a larger efficient and responsible use of natural
resources.

Not Only Business-Applied

● Nonetheless, innovation isn’t just about business. It’s a dynamic process that needs
implementation, i.e. that something is put into active use or made available, but it can
take place in all sectors of an economy.

Where Technopreneurship Can Takes Place/Applied

● Business
● Government
● Household
 ● Non-governmental Organizations (NGOs)

List of Famous Innovators

● Steve Jobs - smartphone
● Marie Curie - radioactivity
● Elon Musk - luxurious electric cars
● Ann Kiessling - biology
● Nikola Tesla - electric power
● Amanda Jones - vacuum method of canning
● Thomas Edison - incandescent electric light bulb
● Grace Hopper - first compiler for a computer programming language
● Leonardo DaVinci - parachute
● Josephine Cochrane - mechanical dishwasher
● Alexander Graham Bell - first telephone