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 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 to succeed must also listen to his team members).
(but
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
Lead
Funding
Market Access
Incubation
Venture Capital
[email protected]
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.
