TMC4013 Technopreneurship & Product Development
Lecture 1
Introduction toTechnopreneurship
So you want to be a Technopreneur?
• Yes? No?
What is Technopreneurship?
• Technology + Entrepreneurship ?
• Describing an entrepreneur who uses cutting- edge technology to develop new business models
What is a Technopreneur?
-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 circumstances and recover from setbacks.
• Visionary- have a vision of what he wants to achieve so that he is not distracted from his goal.
• Practical- pointless to have ideas if they cannot be executed.
• Realistic- to know that most start ups fail & that in all probability he will fail.
Being A Technopreneur
• Romantic- will beat the odds & succeed.
• Loner- by nature but to succeed he has to be part of a team (the more no. of productive & intelligent
people, the higher the probability of success).
• Leader- driving the team towards his vision (but to succeed must also listen to his team members).
Being A Technopreneur
• Greedy- for success & rewards (performance-oriented 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
Lead
Incubation
Funding
Market Access
Venture Capital
Technopreneurship Development Flagship
Mission 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 attitudes
Share 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
• Don’t 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.
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