ENTREPRENEURSHIP 101

Introduction to Technopreneurship
OVERVIEW

FOR OUR FIRST LESSON, WE WILL BE DISCUSSING THE MEANING, IMPORTANCE, AND
EXAMPLES OF TECHNOPRENEURSHIP.
LEARNING OBJECTIVES
BY THE END OF THE MODULE, YOU SHOUKD BE ABLE TO:
1.DEFINE TECHNOPRENEURSHIP
2.IDENTIFY EXAMPLE OF TECHNOPRENEURSHIP
3.UNDERSTAND IT’S IMPORTANCE
START OF DISCUSSION: SO HOW IS TECHNOPRENEUR DIFFER FROM ENTREPRENEUR?

ENTREPRENEUR-  is someone who has an idea and who works to create a
product or service that people will buy, as well as an organization to support
that effort. An entrepreneur takes on most of the risk and initiative for their
new business, and is often seen as a visionary or innovator.

TECHNOPRENEURSHIP- is a fusion of two words, technology, and

entrepreneurship. It is a kind of entrepreneurship in the field of technology. It
involves tech-savvy, creative, innovative individuals who have a knack for
taking a calculated risk, unlike entrepreneurship, which can sometimes be a
one-person show.
A technopreneur starts with a new idea. This idea has the potential to change
the way society has been traditionally functioning. They create a new product
or come up with a solution to some problem using technology. So, science
and technology are the hallmarks of technopreneurship.

Tech-savvy- well informed about or proficient in the use of modern

technology, especially computers.

Examples of Successful Technopreneurs

A common misconception is that to become a technopreneur; one needs to be a genius-
whether to write codes or invent new technology! Well, that need not be the case. It just
boils down to how one can find solutions to the problems using the technology in hand.
For instance:

 Founders of Uber– They revolutionized the way people travel by the use of
technology. They built a GPS integrated app and completely changed the
economics of the taxi/cab industry. Their service is much more convenient for
customers than traditional cab companies.
 Steve Jobs– the founder of Apple, is another successful technopreneur!
Because of his vision to make computer technology elegant and consumer-
friendly, it gave rise to Apple Inc.
 Elon Musk– the multi-billionaire and the man behind some fantastic
technological start-ups like PayPal, SpaceX, and Tesla Motors! He is the
perfect example of a technopreneur who is a risk-taker, an innovator, a
visionary, who never lets failure define him.

Importance of Technopreneurship

 Creating employment opportunities:any new start-up will require

dedicated and hard-working employees. Technopreneurship creates new
jobs and can help our nation tackle the unemployment problem to a
significant extent. It helps increase job opportunities.
 Technological advancement: technopreneurs are innovative individuals.
Along with a pool of employees, they will strive to improve the existing
technology. It will, in turn, lead to the effective utilization of the country’s
natural resources. Use of local resources
 Capital formation: investment and funding are integral for any start-up.
Technopreneurs, too, need investors who can financially assist their start-ups.
These financers utilize the public savings that lead to the economic growth of
the country.
 Promotion of entrepreneurial mindset: The young generation gets a
chance to work with these start-ups. It promotes qualities in them like risk-
taking skills, creativity, a strong work ethic, and passion. This young
generation of workers can, in the future, be successful entrepreneurs
themselves.
 Business diversification and decentralization
Diversification is a growth strategy that involves entering into a new market
or industry - one that your business doesn't currently operate in - while also
creating a new product for that new market.
 TATA Group initially ventured into the steel manufacturing business and
diversified it into other segments such as hospitality, aviation, automobile,
power, etc.

Decentralisation is referred to as a form of an organisational structure

where there is the delegation of authority by the top management to the
middle and lower levels of management in an organisation.

Good examples of decentralised business are Hotels, supermarket, Dress

showrooms and etc. Because it is not possible for one person to focus on
more than 100 branches which have branches throughout the world, take an
example of a hotel. When a particular person holds a chain of hotels as his
business, he particularly focuses on using decentralised structures so that
local hotel managers and assistants are empowered to make on-the-spot
decisions to handle customers – problems, complaints and requirements.

How to become a successful technopreneur? 

A technopreneur often needs to go the extra mile to be successful. Any innovative idea
can sound promising, but what matters is the execution. Exploring uncharted territories
and being persistent are essential for any technopreneur. The will to never give up, even
after failures, is what distinguishes them from the rest of the population. Given below
are specific points that need to be kept in mind for any technopreneur to be successful:

 Build a team:Technopreneurship is the art of combining technological

fortitude with entrepreneurial skills. A dedicated cadre of support staff is
significant for any technopreneurship to be successful.
 Work on your problem-solving skills: Any start-up in its formative years is
bound to face several hurdles. These can be operational challenges, funding
crunch, and regulatory hurdles. So, to be successful, a technopreneur needs
problem-solving skills.
 Decide on the final strategy: Decision making is another crucial skill that a
technopreneur needs to muster. After thorough research, weighing on all
options’ pros and cons, a technopreneur needs to arrive at a decision. They
need to select a strategy that is both cost-effective and viable in the long run.
Thus, technopreneurship is all about making improvements in life, an organization, a
nation, or even the whole world. The critical element is the innovative use of technology
and sheer dedication and hard work.

So to wrap up the discussion

Technopreneurship is a simple entrepreneurship in a technology
intensive context. It is a process of merging technology prowess and
entrepreneurial talent and skills.
Technopreneurship is not a product but a process of synthesis in
engineering the future of a person, an organisation, a nation and the
world. In a digital, knowledge based society,Technopreneurship is
integration of technology, innovation and entrepreneurship.

Our next topic would be innovation and ideas

 NAME
1. Abella Ranezel
2. Albao Adilyn
3. Aloquin Eliezer John
4. Balandra Mark Allan
5. Candidato Rex
6. Carbungco Lee Ann
7. Danao Sheila Mae
8. Densing Mark Frederick
9. Diano Brian
10. Dignos Judy Ann
11. Gomez Debbie- Ann
12. Haloc Princess
13. Jaena Lorie Ann
14. Julaton Marcial
15. Laurio Desiree Ann
16. Manatad Ronna Mae
17. Manuel Aries Buen
18. Mingoy Justine
19. Monton Reymond
20. Olbedo Angel Mae
21. Parades Sophia Nicole
22. Rosal Gincarl
23. Salvo Leslie
24. Samson Jarejude
25. Tayong Lynilyn Jane
26. Verano Jennifer
27. Villaruel John Robert
TECHNOPRENEURSHIP 101
TECH 1B MW 5:30- 7:30 BSCE III-B