Lecture 01 Introduction to Technopreneurship

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TMC4013 Technopreneurship & Product Development

Lecture 1 Introduction toTechnopreneurship

So you want to be a Technopreneur? Yes? No?

What is Technopreneurship? Technology + Entrepreneurship ?

What is a Technopreneur? Describing an entrepreneur who uses cutting- edge technology to develop new business models-Mankani, D.

Definition of a Technopreneur Someone who uses technology to do something new or invents new devices & then makes a business from selling these new things -anonymous-

Entrepreneurship entails:

Understanding the situation. Committing money and resources to pursue it.

Entrepreneurial Equation

Give up well-paying job + Put everything into a venture + No experience = Too Risky?

Why us rather than someone else? What are our differentiating factors?

Price? Flexibility? Meeting customer needs? Innovative in solutions? Being able to value-add?

Issues

Who is technopreneur? Why become a technopreneur? Technopreneurial motivation. Technopreneurial Traits, Characteristics and Skills.

Entrepreneurship & Technopreneurship Entrepreneurship involves having the guts to do what you believe is right, thinking out of the box and making business out of it. Technopreneurship is being an entrepreneur by: Using existing technologies & suiting it to a new application Inventing or developing a new product-Axiom Technologies Mfg. Pte. Ltd.

Being A Technopreneur

Flexible can adapt to changing circumstancesand recover from setbacks.

Visionary- have a vision of what he wants toachieve so that he is not distracted from his goal.

Practical- pointless to have ideas if they cannotbe executed.

Realistic- to know that most start ups fail & thatin all probability he will fail.

Being A Technopreneur

Romantic- will beat the odds & succeed. Loner- by nature but to succeed he has to be partof a team (the more no. of productive & intelligent people, the higher the probability of success).

Leader- driving the team towards his vision (butto succeed must also listen to his team members).

Being A Technopreneur

Greedy- for success & rewards (performanceoriented individual who wants results, yet he has to be mindful of the contributions of his team members & may have to make sacrifices to keep a winning team).

Discipline- has to manage himself & his team(else, his team will lose focus, dissipating their energy by duplicating tasks, squabbling and straying down blind alleys).

Technopreneurship

Who are Technopreneurs? Technology entrepreneurs who develop an enterprise or business venture based on innovative technological products or services.

What is Technopreneurship? It is a socio-economic phenomenon which supports new economic growth in the k-based economy. Technopreneur Development Division, MSC.

MSC TDF Operational Framework

Spawning & facilitating the growth of technopreneurs & ICT companies for success

Funding

Lead

Market Access

Incubationmorosita@fit.unimas.my

Venture Capital

Technopreneurship Development FlagshipMission TDF by MSC Facilitate start-ups and development of technopreneurs Spawn critical mass of ICT and Multimedia SMEs Facilitate the growth of these ICT and MM companies to become world class.

Success comes from attitudesShare the following: 1. A challenge in all things 2. A desire to do things as best as possible 3. A belief that everything can be done better 4. Differentiating themselves from the rest 5. Challenging the norm

Concluding Remarks

You cannot be taught how to be an entrepreneur You should enjoy the challenge Innovation is the key, technology is the tool

Concluding Remarks

Differentiate yourself from the rest Dont be caught up with the money Have fun

References MSC Technopreneur Development Flagship, Dr Wilson Tay (Vice President), Technopreneur Development Division. Technopreneurship and Innovation, Bernard Goh (Managing Director), Axiom Technologies Mfg. Pte. Ltd.