Article

Technopreneurship

by rw

“Technopreneurship are entrepreneurs who start and manage their own technology business”


The increasing number of start-ups and the increasing number of people joining these start-ups has brought about a change in the idea of entrepreneurship. Entrepreneurship is no longer just an individual act that looks for opportunities for establishing new businesses, but it is also an activity that arises from collaborative efforts between entrepreneurs who work together with others to form new businesses. Technologies are influencing this new form of entrepreneurship. Technology enables the creation of products and services which are not only innovative but also disruptive. The time spent by technopreneurs on innovation leads to newer skills which increase their productivity and helps them maintain sustained competitive advantage over other entrepreneurs who may be using older techniques. Therefore, technopreneurs are not only innovators who bring new products and services to the market but they are also entrepreneurs who bring new methods of production and business models.


Currently, there is no standard definition of technopreneurship that everyone can agree upon. Therefore, a common problem about the definition is that it does not cover all aspects of technopreneurship. Some suggest that technopreneurship includes those people who make a technological innovation into a new product or service which is in turn used by others for their benefits. However, it does not include those people who make use of the technology for their own benefit and subsequently produce products or services. Another definition of technopreneurship is that it is about the transformation of innovation in technology into new products, services that are useful for the benefit of society.


In order to have a widespread adoption of technopreneurship, especially in developing countries, there are three things that should be done. First, governments should remove barriers to entry and exit from markets. In other words, policies and regulations should promote entrepreneurs who bring new technologies to the market. Second, governments should set up an environment for funding early-stage companies. Thirdly, governments should create an environment where intellectual property rights are protected so that investors can get proper return on their investment without losing patented technology.


TECHNOPRENEURSHIP is important to us because as a country, we can be well positioned as a driver of innovation and technological economy in Africa and also globally. However, we cannot achieve this if amongst ourselves whether in academia or the private sector, we continue to have tribalism and do not collaborate in research and development so that we can benefit our people. We have made great strides for example with mobile money technology but you cannot get a job because you have an M-Pesa account but cannot read or write. In order to know how to use the technology which will go beyond having M-Pesa accounts, you must invest in educational system that supports technological entrepreneurship.


Secondly, if we want to use math to solve our problems like in the area of education, we must make sure that we have the right vision and strategy for how technology can contribute to that vision. Currently the focus of technopreneurship is on the development of products and services. Applying technopreneurship to solve problems will require better collaboration between technologists and those who are working in social sectors like government or non-profit organizations.


Last but not least, without government support and the right policies, technopreneurship will not lead to a prosperous Africa. In other words, if we want our youth to be technically proficient in key leadership roles, we must train them in our universities so that they can become technopreneurs later on. Therefore, it is important for governments to have policies that will enable technopreneurs who have innovative ideas and talents to explore their possibilities and start new businesses in the country.


Technopreneurship is defined as the informal mode of entrepreneurship which reflects a technological innovation process from inception to commercialization. It is typically defined as a person who brings technological innovations to market in the form of new products or services that are useful for the benefit of others. Technopreneurship is an innovative way to set up new businesses and find innovative ways of doing things within existing formal businesses. Technopreneurs develop technology-based products, processes, and services which are not only innovative but disruptive both in terms of its cost and time taken to market. In the modern economy, technopreneurs can be found operating in a variety of fields including manufacturing, construction, and services.


Technopreneurs try to exploit technology to change the way people do things in their own life, either through creating new products or by changing the methods of doing things. The process that demarcates a technopreneur from other business owners is not necessarily based on the technology that they use to start their new businesses; it is more related to who they are and where they find themselves in innovation. For example, a computer programmer may have been working at an organization within a large firm when she identified a technology that the firm could use to decrease cost. She then decided to quit her job and start her own business in order to sell this technology. Technopreneurs also have the ability to bring innovations which require fewer resources, as they use technology that is more efficient. They also have the ability to make things easier for people by making things more affordable through using less resources.


Technopreneurship has come a long way since the 1990s. Technopreneurship was first introduced in 1996 by Vannevar Bush, who is an engineer and the former presidential science advisor. According to Vannevar Bush, there are four key aspects of technopreneurship: risk-taking, innovation, creative disruption, and commercialization. Technopreneurship not only benefits the economy, but it also helps improve lives, reduce poverty and introduces new possibilities for generations to come. The role of technopreneurship in Africa is very important because it helps develop policies and innovations that benefit local communities.


Technopreneurship is a process by which an individual or a small team starts up a business where they develop new technologies and bring them to the market. Technopreneurs are neither scientists nor innovators, but they are people who find ways of applying science and technology advancements to make it usable in everyday life. Technopreneurial activities were mostly limited to the development of hardware devices, but now these activities use software in many cases.


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