TECHNOPRENEURSHIP

The Lasallian Prayer

“Let us remember
that we are in the holy presence of
God.”
 Module 1:
Introduction to
Technopreneurship
 Learning Outcomes

By the end of this lecture you’ll be able to:

TLO1. Understand the difference between

technopreneurship and entrepreneurship
TLO2. Evaluate and define the different market
needs
Introduction
Basic Idea of Technopreneurship
• In this era of technology, a technopreneur
begins their business with nothing but with a
brainstorming idea. He identifies present
practices and assesses some new ideas to do
something different.

• A person who is engaged in technopreneurship

creates a product or solution that uses
technological solutions to change the way of
doing something in an orthodox way. It
improves how we have done something before
and how it has to be done in the coming future.
 Example of Technopreneurship:
• To exemplify, the owner of Uber come up with a unique
idea to call a car from any location through the
application and keep a track of it through GPS. It takes
the car or taxi industry by storm as it saves time of
people and an easy way to book a car.
• Uber Technologies, Inc., commonly known as Uber, offers
vehicles for hire, food delivery, package delivery, couriers,
freight transportation, and, through a partnership with
Lime, electric bicycle and motorized scooter rental.
• CEO: Dara Khosrowshahi (30 Aug 2017–)
• Founded: March 2009, San Francisco, California, United
States
• Headquarters: San Francisco, California, United States
• Revenue: 14.15 billion USD (2019)
• Subsidiaries: Uber Eats, Postmates, Careem, Otto,
deCarta, MORE
• Founders: Travis Kalanick, Garrett Camp
Meaning of Technopreneurship

• In an intensive context, this is not a product

but a procedure of synthesis to improve and
create innovate the future of a person, a
nation, and the globe as a whole. In this
digital world, professional development
programs, as well as training, have required
to succeed in a knowledge-based society.
They produce various strategic thinkers
who have the relevant skills and talent to
grab success in a changing global
atmosphere at a fast pace.
“Technopreneurship comprises
identifying modern technologies
and even creation of technological
opportunities by the presentation of
commercial products and services.”
- Blanco
(2007)
What exactly Technopreneurship is?

As it is hinted by the term, it is a blend of two

words such as “technology” and
“Entrepreneurship”. Thoroughly, it is a kind
of entrepreneurship in the field of
technology. The process of
technopreneurship is a combination of
technological advancements and
entrepreneurial skills. In the products and
services transformation, an integral part of
technopreneur is technology.
This is a new breed in the field of
entrepreneurship. These types of
entrepreneurship are suitable for a
person who is intelligent, innovative,
tech-savvy, appetite, and passionate in
the calculation of risk.
Technopreneurship gets to the next
level of success through teamwork.
Technopreneurship Trilogy
Examples of Technopreneurs
As defined by the Collins Dictionary, “techpreneurs are
entrepreneurs who start and manage their own
technology business.”
The name originated from the year 1990s and a blend of
“techno” and “entrepreneur” who takes the calculated
risks in the techy world.
1. Elon Musk
• The billion Elon Musk has been regarded as a Tech
Geeks, who is CEO of SpaceX, PayPal, and Tesla.
Further, Elon Musk is known as a disrupter and he has
discarded the misconception that the only best way to
cut the business cost is outsourcing.
• Elon Musk is always rushing the group of
technopreneurs who love to take risks.
2. Bill Gates and Steve Jobs
• Other well-known technopreneurs cover Bill Gates
who is the founder and owner of the award-winning
firm of all time, Microsoft. But we never forget the
late Steve Jobs.
• Of course, the film that has been made about Steve
Jobs named “Pirates of Silicon Valley” that give him
a title of technopreneur. That biographical film about
that man showcases the real picture of the tech
world that we have today. It involves all the creative
actions involved in the building up of the global
corporate empire, Steve Jobs Apple Computer
Corporation.
It is interesting to get such great technopreneurs at the same
time. Both of these companies competed with each other in
the past times on various events. The battle of these
computer and software technology is appealing to watch.

• “Technology is always evolving, and companies, not just

search companies, can’t be afraid to take advantage of
change.”
• -Eric
Schimdt
• In the most obvious way, technopreneurship is
what you get when you unite “entrepreneurship”
with “technology”. This is not just the effect of
technology on businesses but rather the process
where progression in the lives of the people
happens.
• It is the process of using the developments
brought about by specialized knowledge to come
up with innovations in all the aspects of human life
with the aid of a creative and skillful mind. Birth of
this field provides every entrepreneur a challenge
of exploring an untraveled path towards greater
success.
New trend in business

• In this generation, one factor that greatly

influences the lives of people is technology.
Everything under the sun must cope up with
the changes created by this shape-shifting
factor, even the businesses.
• Whether they see these developments as a
challenge to surpass or as an opportunity to
expand their venture, they just can’t
eliminate the fact that they should ride along
with its trends.
Brief History of Technopreneurship

• It was first used in the year 1987 but

gained popularity due to the wide use of
the internet during the second millennium.
There are various definitions of that word,
depending on the individual giving meaning
to it. From the most technical to the most
sentimental and even the weirdest
definition of the term, you have it all.
• - “INTEGRATION OF TECHNOLOGY,
INNOVATION AND ENTREPRENEURSHIP”

• - “ACT OF TURNING “SOMETHING” INTO A

RESOURCE OF HIGH VALUE BY
CONVERTING GOOD IDEAS INTO
BUSINESS VENTURES THAT RELIES
HEAVILY ON THE APPLICATION OF HUMAN
KNOWLEDGE FOR PRACTICAL PURPOSES.
“
• - “ENTREPRENEURSHIP IN THE FIELD OF
TECHNOLOGY.”
• - “PROCESS OF ENGINEERING THE FUTURE
OF AN INDIVIDUAL, AN ORGANIZATION OR A
NATION.”
• - “APPLICATION OF THE NEWEST INVENTIONS
AND ADVANCEMENTS IN COMING OUT WITH
NEW AND INNOVATIVE PRODUCTS THROUGH
THE PROCESS OF DISSEMINATION.”
• - “MANUFACTURING OF HI-TECH PRODUCTS
OR MAKING USE OF HI TECHNOLOGY TO
DELIVER PRODUCT TO CONSUMERS.”
• - “EXHAUSTIVE USE OF TECHNOLOGY IN
MAKING PROFIT.”
Say their names….

• Some people might just describe the word by

simply stating names of famous people like
Steve Jobs of Apple Inc., Sergey Brin and
Larry Page of Google, Bill Gates of Microsoft,
Mark Zuckerberg of Facebook and other well-
known technopreneurs out there.
• Sometimes, by just merely saying their
names, people will understand more the
concept and meaning of technopreneurship.
Characteristics of a Technopreneur
Wrong concepts about effective and
successful technopreneurship:

• 1. They are all gifted -

• 2. Molded by experience -
• 3. I am Superman -

• 4. We are the Justice League -

• 5. I take risk -

• 6. I take calculated risk -

• 7. My precious -

• 8. Our precious -
• 9. It’s all about ME -
 Exercises:
Exercise Title#1: If I Knew… Activity
• Instruction:
• Since we need familiarization and good communication in our
subject matter, I would like to know your thoughts about what
you want to learn in my class.
• Each student will be asked to fill out a simple template that
asks the following questions:

• When I signed up to take this class, I was expecting…

• This is what I got out of the class…
• If I had only known…
• This is what I would change…
Entrepreneurial
Mindset
What is Mindset?

• A mindset is defined by Merriam-Webster as

a “mental attitude or inclination.”
As further elaborated upon by Thum
(2012):
• Your mindset is the sum of your
knowledge, including beliefs and
thoughts about the world and
yourself in it. It is your filter for
information you get in and put out.
So it determines how you receive
and react to information.
• A mindset is a cognitive belief system
consisting of interrelated beliefs,
assumptions, and knowledge that we use to
process information, inform our decisions,
and guide our behavior.
From an academic standpoint, the mindset concept comes
out of the cognitive psychology and organization theory
fields. The findings are:
• 1. As human beings, we are limited in our ability to absorb
and process information. Thus, we are constantly
challenged by the complexity, ambiguity, and dynamism of
the information environment around us.
• 2. We address this challenge through a process of
filtration. We are selective in what we absorb and biased
in how we interpret it. The term mindset refers to these
cognitive filters.
• 3. Our mindsets are a product of our histories and evolve
through an interactive process. Our current mindset
guides the collection and interpretation of new information.
• To the extent that this new information is
consistent with the current mindset, it reinforces
that mindset. From time to time, however, new
information appears that is truly novel and
inconsistent with the existing mindset.
• When this happens, we either reject the new
information or change our mindset. The
likelihood that our mindsets will undergo a
change depends largely on how explicitly self-
conscious we are of our current mindsets: the
more the hidden and subconscious our cognitive
filters, the greater the likelihood of rigidity
What Does it Mean to be Entrepreneurial?

• The word “entrepreneur” originates from the

French word entrependre, which means
“undertaker” as in the sense of someone
undertaking a major project.
• The French economist most well-known for
coining this term around 1800 is Jean
Baptiste Say, who emphasized “the
entrepreneur shifts resources out of an area
of lower and into an area of high productivity
and greater yield” (Drucker 1985a: 23). Thus,
the creation of value is of the very essence
of entrepreneurship.
In examining the evolution of the definition of
entrepreneur, it is important to recognize five key
insights as they pertain to engineering education:
• Insight #1 “Are you an entrepreneur?” is the wrong
question. Rather, it should be “how entrepreneurial are
you?”
• Insight #2: Being entrepreneurial is relevant to more than
just start-ups.
• Insight #3: There are many types (and sizes) of
entrepreneurial opportunities.
• Insight #4: Being entrepreneurial requires the creation of
value
• Insight #5: Being entrepreneurial involves embracing
uncertainty
What is Entrepreneurial mindset?
An entrepreneurial mindset is a specific set of beliefs,
knowledge, and thought processes that drives
entrepreneurial behavior. Those with an entrepreneurial
mindset tend to:

• - believe in their ability to succeed and influence their

own outcomes, empowering them to take ownership of
their lives,
• - have compelling goals that keep them future-
focused and intrinsically motivated, driving them to be
self-directed, action-oriented, and highly engaged,
•- have an optimistic interpretation of
adverse events and see problems as
potential opportunities, becoming highly
resilient, resourceful, and solution-oriented
even within highly uncertain, resource
constrained environment,
• - be lifelong knowledge seekers with a
focus on micro-experiments as learning
opportunities to test ideas, cultivating
curiosity, creativity, and critical thinking,
• - display a high-level of reliability,
understanding that following through on
simple solutions can lead to unforeseen
opportunity,
• - have a humanistic outlook, being other-
focused and understanding that one creates
value by looking to solve problems for
others; and
• - surround themselves with an intentional
community of positive influence and critical
guidance
• It is important to note that successful
entrepreneurs are often touted as
exceptional individuals; a rare breed who
seem to have been born with unique
hereditary traits.
• But the entrepreneurial mindset is most
often acquired implicitly without conscious
effort or awareness, which may explain why
it often appears to be a dispositional trait,
even though it is not.
• An entrepreneurial mindset can be developed and
enhanced through entrepreneurial experiences.
And to cultivate the entrepreneurial mindset, we
must create entrepreneurial learning experiences
within our classrooms, organizations, and
communities.
Technopreneur vs. Entrepreneur

Ultimately, there are more similarities than

differences. Entrepreneurship, of all forms,
follows this high-level path:
• - Identify needs,
• - Build products,
• - Mitigate risks, and
• - Take the products to market.
• Technopreneurs simply have a different
perspective and set of tools for each step in
this path — and greater potential for success.

• Further, technopreneurship is a subset of

entrepreneurship.

• All Technopreneurs are entrepreneurs, but

not all entrepreneurs are Technopreneurs.
• An entrepreneur is a person who identifies
an opportunity, converts it into a product or
service, estimates earnings and profit and
builds a successful business with it.
• A Technopreneur starts out with nothing but
an ‘idea,’ defies existing practices and
systems and thinks of doing things
differently, and creates a product or solution
that uses the heft and capability of
technology to change the way something
was traditionally done.
Who is Technopreneur?

• - A person who destroy the existing

economic order (creative destruction) by
introducing new products and services, by
creating new forms of organizations and by
exploiting new raw materials (Schumpeter,
1934)
• - Someone who perceives an opportunity
and creates an organization to pursue it.
• - Person who undertake risks ( by creating
an enterprise or business) that has a chance
of profit or success technopreneurship
distinguishes themselves through their ability
to accumulate and manage knowledge as
well as their ability to mobilize resources to
achieve a specified business or social goal
(Kuemmerle, 2002)
• - A bold, imaginative, deviator from
established business methods who constantly
seeks the opportunity to commercialize new
products, technologies processes and
arrangements (Baumol, 2002)
• - Distinguishes logic from tradition, common
tradition from prejudice, prejudice from
common sense and common sense from non-
sense while integrating variety of ideas from
diverse groups and discipline (Cereijo, 2002)
• - Skilled in applied creativity thrive in
response to challenge and lack for
unconventional solutions. They
experience challenges, creative visions
solutions, build stories that explains their
visions for and then act to the part of the
solutions. They forge new paths and risk
failure, but persistently seek success
(Dorf and Byers, 2005)
What is Entrepreneurship?

• A way of thinking and acting that is

opportunity obsessed, holistic in approach
and leadership balanced for the purpose of
the wealth creation (Babson's Definition)

•- Creative destruction, dynamic

disequilibrium brought on by the innovating
entrepreneur rather than equilibrium and
optimization is the norm of a healthy
economy and the central reality of economic
theory and practice (Schumpeter, 1934)
• - Entrepreneur searches for charges
responds to it, exploits it is an opportunity,
innovation is the specific tool of
entrepreneurs the means by which the
exploit change as an opportunity for a
different business or a different service
(Drucker, 1985)
• - Pursuit of opportunity without regard to
the resources currently under one's control
(Stevenson)
What is Technopreneurship?

"Creating the NEW and destroying the

OLD"
• - new knowledge
• - new products
• - new processes
• - new services
• - new market
• - new business
Entrepreneurial Process vs. Technopreneurial Process
• Opportunity Analysis - Idea Generation
• Business planning - Idea Screening
• Gathering Resources - Concept Testing
• Implementation - Business Analysis
• Scaling and Harvesting - Prototyping
• Everything starts on idea - Commercialization
- Monitoring and
Evaluation
- Everything starts on
an opportunity
Enabling assessment: Quiz#1
 Exercises:
• Title: Defining and Drawing the Problem Activity
• Objective of the Activity:
On any given day, we prioritize the problems that get our
attention. Problems that are vague or misunderstood have a
harder time passing our internal tests of what matters and, as a
result, go unaddressed and unsolved. Often, activities like
meetings that address problem-solving skip this critical step:
defining the problem in a way that is not only clear but also
compelling enough to make people care about solving it.
Running this short drawing exercise at the beginning of an
activity will help get the laptops closed and the participants
engaged with their purpose.
• Instruction:
• You can choose any relevant topics that we have right now.
Make sure that this problem is existing, and you will be able
to define and draw the problem.
• Make a brief reason why this topic problem occurs.

Example: Lack of Public Transportation

 END OF PRESENTATION

ONE HEART.
ONE COMMITMENT.
ONE LIFE.
1719 – 2019
#300LaSalle

Thursday, August 17, Prepared By: Engr. Joshua Hernandez 67

2023
The Lasallian Prayer

“I will continue, O my God,

to do all my actions for the love of
Thee.”

Saint John Baptist de La Salle, pray for us.

Live Jesus in our hearts, forever.