In this blog, we will try to explain what technopreneurship means, its definition, examples, importance and how can you become a successful technopreneur. The term ‘technopreneurship’ is the amalgamation of the century’s most powerful two words – entrepreneurship and technology. A person who identifies a gap or opportunity in any market, industry or process, converts it into a service or product, conducts market research, estimates probable profits and earnings and creates a successful business is called an entrepreneur. The entire process of doing the same is known as entrepreneurship. By definition, technology means the hands-on and pragmatic application or use of scientific knowledge. However, in context, it usually refers to what is known as Information technology (IT) or Information and Communication Technology. As quoted by a British inventor and futurist, Sir Arthur C. Clark, “Any sufficiently advanced technology is indistinguishable from magic.”
A person who begins by brainstorming ideas that challenge the traditional systems and practices and comes up with a better, more creative and different way of doing things is a technopreneur. A technopreneur defies the present economic order by ideating a product or service that uses technological solutions to change the traditional way of doing something. Generally speaking, a technopreneur is a tech-savvy, creative, driven, innovative and dynamic person who thinks out of the box. The Collins dictionary defines a technopreneur as “entrepreneurs who begin and manage their own tech business.” Technopreneurs, continually and persistently, look for scope of improvement in the ways of working of people, companies, industries and countries as a whole.
Now that we understand what the components of the term ‘technopreneurship’ mean, let us move on to the term itself.
Technopreneurship: Meaning and Definition
Largely speaking, technopreneurship is entrepreneurship in the domain of technology. It is a jargon used for entrepreneurs that are dedicated innovators in the information technology discipline. To be intensive, it is not the product but the procedure of improving as well as recreating a way of doing something. It is the process of unifying the power of technology with entrepreneurial skills and capabilities. It generally begins with a customer experience and is worked backwards to arrive at the technological solution to be provided to the customers.
In 2007, Blanco defined it as the following:
“Technopreneurship comprises identifying modern technologies and even creation of technological opportunities by the presentation of commercial products and services.”
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