TECHNOPRENEURSHIP

Technopreneurship is one of the major

extensions of entrepreneurship.

Definitions:

1. Technopreneur is a new age

entrepreneur who makes use of
technology to come out with
something new to make some innovation. Once the person succeeds in it, she/he
exploits his/her achievement in the market to make money.
2. A technopreneur or techpreneur is an entrepreneur who gets a technology idea
and finds an opportunity to make it a commercial reality.
3. A technopreneur is an entrepreneur who is technology savvy, creative,
innovative, dynamic, dares to be different and take the unexplored path, and very
passionate about their work. They take challenges and strive to lead their life with
greater success. They don’t fear to fail.

Techpreneurs are talented people, like all entrepreneurs are. They often show hard
work and some resilience that is not common in many. What is even interesting is
how these individuals despite their difficult technical skills, manage to do all their
duties and through their unique talent achieve immense success.
Five Traits of Successful Technopreneurs

1. Leadership

Good leadership is critical to successful

technopreneurship. This means that as a person,
you serve as the spark to a bright idea and
transform the dream into a reality. You as a leader are the starting point, and with
that, you find the best team, lay down foundations, and think of the overall strategy
for your business.

Peter Loftin who built up his empire from the back of a small office in North
Carolina is a good example. He started selling portable phones business to business
and knew that the potential for B2B telecom was enormous. With this knowledge,
Loftin decided to start his own telecom company.

2. Flexibility

Techpreneurs know that not everything produces great results and adapt to such
circumstances easily. As a lesson, you need to know that to get to the top; you must
know how to blend with tight situations and be creative enough to emerge successful
in future.

You should understand that your ideas are your dreams, but this dream should be
pliable enough so you can help shape solutions to the problems of consumers.

3. Discipline
One thing you need to learn and understand as an entrepreneur is that success
requires discipline. You need to structure your work so that you and everyone know
their roles and responsibilities. Great discipline within the business will help you
find out and tackle problems that arise with the venture.

Additionally, it helps you keep your team working like a well-oiled machine.
Discipline also determines how you spend time with work and still have enough time
for family and friends.

4. Strategist

Remember the saying, ‘behind every successful man lies a strong woman’? Well,
this is applicable here too. All successful ventures have great strategists behind them.
Therefore, as an administrator for your company, you should be able to get relevant
and useful things for your business strategically.

As a strategist, you need to be able to come up with unique products every time and
have the magic to push your products to the market and let consumers see the real
value it can bring into their lives. Aside from these, as a strategist, you can pick ideal
business partners, understand the competition, see the weaknesses and amend them
before they become a problem.

5. Focus

Successful technopreneurs may have a hundred items on their to-do list every day,
but they know which ones must be prioritized. The focus is like the sniper alter ego
of your discipline that scopes the targets and makes failure as not part of the options.
Some people might start something great but give up after a few months. You will
see them starting on another excellent idea the next time you see them and then
another the next time you bump into them.

If you want to be a great technopreneur, you must know how to prioritize your tasks
and responsibilities. You should learn to drop down distractions and focus on
success oriented things.

Peter Loftin who founded Business Telecom Inc. knows how to squeeze every drop
of productivity in his work hours. He learned that an emphasis on the most important
tasks made him more efficient and productive.

Obviously "TechnoPreneurship" was coined from two words "technology" and

"entrepreneurship." The first known use of the term technopreneurship was in 1987.
It is possible that the term "technopreneurship" was more recognized when the
Internet bubble began to break in April of 2000. Considering these facts, it can be
said that technopreneurship has past gone its infancy. However, it is probable that it
is still in its babyhood. Just for a quick exercise, try typing the
word "technopreneurship" or technopreneur." You'll notice that the word would
yield you a crooked red underline which is atypical warning of a misspelled word.
Such case would reflect that the term "technopreneurship" have not yet been
universally recognized as compared to terms such as entrepreneurship, technology,
cyberspace, e-commerce, e-bay, and the like. Some would still prefer to call
themselves online entrepreneurs, internet entrepreneurs; and their activities as online
selling, e-commerce, online trading, or simply entrepreneurship. In fact as of this
writing, the word Technopreneurship is not yet even included in the dictionary! This
neologism still causes too much confusion to the common people, and even to some
who are actually in the IT world! The first Asian School to offer Master of Science
in Technopreneurship and Innovation Program (M.Sc.TIP) is Nanyang
Technological University in Singapore. According to some resources, the word
technopreneurship is more popularly used in Asian countries compared to the
Western world.

History of Technopreneurship

Obviously "TechnoPreneurship" was coined from two words "technology"

and "entrepreneurship." The first known use of the term technopreneurship was in
1987. It is possible that the term "technopreneurship" was more recognized when the
Internet bubble began to break in April of 2000. Considering these facts, it can be
said that technopreneurship has past gone its infancy. However, it is probable that it
is still in its babyhood. Just for a quick exercise, try typing the
word "technopreneurship" or technopreneur." You'll notice that the word would
yield you a crooked red underline which is atypical warning of a misspelled word.
Such case would reflect that the term "technopreneurship" have not yet been
universally recognized as compared to terms such as entrepreneurship, technology,
cyberspace, e-commerce, e-bay, and the like. Some would still prefer to call
themselves online entrepreneurs, internet entrepreneurs; and their activities as online
selling, e-commerce, online trading, or simply entrepreneurship. In fact, as of this
writing, the word Technopreneurship is not yet even included in the dictionary! This
neologism still causes too much confusion to the common people, and even to some
who are actually in the IT world! The first Asian School to offer Master of Science
in Technopreneurship and Innovation Program (M.Sc.TIP) is Nanyang
Technological University in Singapore. According to some resources, the word
technopreneurship is more popularly used in Asian countries compared to the
Western world.

The importance of Technopreneurship today

Technopreneurship is an entrepreneurial term reserved for entrepreneurs who are

engaged in the field of information technology. Bill Gates (Microsoft), Steve Jobs
(Apple), Sergey Brin and Larry Page (Google), Mark Zuckerberg (Facebook), Jack
Dorsey (Twitter), and Kevin Systorm (Instagram) are a few examples of
entrepreneurs who are engaged in the world of information technology.

Information is very important in finding opportunities that we want to know as a

vehicle of our openness to a variety of news in our environment. Much of the
information that is often overlooked, caused by our inability to identify and explore
opportunities that exist.
There are many resources that we can use to obtain information, ranging from print
media to electronic media. The more complete the sources we can get, the easier for
us to obtain information about business opportunities.
The introduction of information technology and communication technology is
expected to make rapid changes in life. Through IT, we can find, explore, analyze,
and share information efficiently and effectively. Information technology covers all
matters related to the process, the use of tools, manipulation, and management of
information. While communication technologies are all things associated with the
use of tools to process and transfer data from one device to another. Information
technology and communications technology play as an integral equivalent containing
a comprehensive understanding of all activities related to the processing,
manipulation, management, and transfer of information between media.

Basically, there are two kinds of IT-related businesses, namely products and
services.
1. Product: Hardware , Software
2. Services: Application, E-commerce

Technical Terms
Software
Is the turnover of the businesses that make software. You as a seller will accept
reservations according to the needs of your customers.

Infrastructure
Is a business that provides computer and information services, such as Internet
Service, Computer Network, Technology News, etc.

E-commerce
The Internet has evolved into a major global distribution of products and services,
employment in managerial and professional fields.
E-commerce can be defined from several perspectives:
Communications: delivery of goods, services, information, or payments over
computer networks or other electronic means.

Trade: provision of means to buy and sell products, services, and information for the
Internet or other online facilities.

Business processes: running business processes electronically through an electronic

network, replacing business processes with information transmitted quickly.

Service: a way for governments, businesses, consumers, and management to cut costs
while improving quality of service and speed of service for consumers.

An E-commerce site basically gives every business owner the ability to have limited
store hours, give the customers 24 hours a day, 7 days a week access to the store and
purchase items. Online shopping is an example of the latest technology, running the
process whereby consumers can directly buy goods or services from sellers in real-
time, without an intermediary service, over the Internet.