Defining Technopreneurship

Entrepreneurship
In his book titled “Innovation and Entrepreneurship”, Peter F. Drucker describes an entrepreneur as not just someone who starts his own, new and small business: You can be a corporate employee and still be entrepreneurial. He further states that not every new small business is entrepreneurial because entrepreneurship is the practice of consistently converting good ideas into profitable commercial ventures. This excludes that umpteenth lechon manok restaurant that opened downtown or that new sari-sari store that’s the 25th to open within a 200-meter radius but includes McDonald’s for (profitably) transforming fast food into what it is today.

Innovation
In the same book, Prof. Drucker challenges common knowledge by showing, through real-world examples, that innovation does not have to be technical, and does not have to be a “thing” altogether. Rather, he defines innovation as the systematic act of turning “something” (product, idea, information, technology, etc.) into a resource that is of high value to its target market. He cites the example of transforming bauxite–formerly considered a nuisance because it did nothing but make land infertile–to aluminum which is now considered important to the world economy because of its many applications.

Technology
Technology is not necessarily “hi-tech”, indeed does not always have to be technical. Technology is simply defined as applications of knowledge to human work. Thus accounting, Economic Order Quantity, word-of-mouth marketing, and well-defined mentoring programs are all technologies.

What is technopreneurship then?
As I understand it, technopreneurship is, by a large part, still entrepreneurship. The difference is that technopreneurship is either involved in delivering an innovative hi-tech product (e.g. Intel) or makes use of hi-tech in an innovative way to deliver its product to the consumer (e.g. eBay), or both (e.g. most pharmaceutical companies).

Update (2008 Jan 15) I’ve come to the realization that Technopreneurship and Entrepreneurship are one and the same. More here.

Further Reading

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15 Comments

Filed under Definitions, Technopreneurship

15 responses to “Defining Technopreneurship

  1. nasseren macarambon

    its nice 2 know the difference between techkopreneurship from entrepreneurship.my knowledege became more wide.thank you and more power.

  2. BAD BOY

    what differenciate between technopreneurship and interpreneursip

  3. Pingback: what is technopreneurship

  4. teresa

    what is the difference between e-commerce to technopreneurship?

  5. Amy

    What is the features that include in the technopreneurship?

  6. nisha

    what business model use in technopreneurship?what consep they use?

  7. jay ar columna

    What is the role of entrepreneurship in our lives.

    • syakir

      entrepreneurship is a theories and value or study matter. the role that u are referred to supposed to the role of entrepreneur. one of their role is creating a wealth to society. furthermore, they could be an good model to the future graduate who are interested to be self employed.

  8. Inline with technopreneurship, what are the evolutionary patterns of development? We had an assigned activity in our class but I’m not possessed with the corresponding answers with this topic.. Hope you may answer my query.

  9. You make some great points about entrepreneurship and the fact that technology does not have to be the only driver. Even though your forcus is on technopreneurs. There are still so many oppotunities for those who are not focused on technology. They may not be as much fun, but there are huge opportunities for returns.

  10. maronga

    What is the difference between entrepreneurship and intrapreneurship

    • syakir

      in my opinion, the point of different POD between entrepreneurship and intrapreneurship is the place that u are applying or practicing the entrepreneurial competency (assertiveness, persuasive, efficiency orientation etc). Therefore, for the entrepreneurship, its goes to profit organisation (business, company, entreprise) however intrapreneurship is goes to non- profit organisation (charity fund, foundation of … etc). In addition, when we differentiated them according to place so another POD is about the actors. entreprise – businessman/entrepreneur and non-organisation company – chairman, committee etc.

  11. Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization.

  12. Hello, just wanted to mention, I loved this post.
    It was practical. Keep on posting!

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