Unique Principles of Technopreneurship

Over the past few months I have learned and collected a list of principles that make technopreneurship unique from entrepreneurship. Here is that list:

  1. Nothing to see here.

I have learned that there are no special principles that make technopreneurship unique from entrepreneurship: Both regard innovation critical in remaining competitive in the marketplace, both regard management important to staying in control, and both view profitability as an important constraint that must always be satisfied lest the firm disappear into oblivion.

The parameters of both technopreneurship and entrepreneurship are the same and the way I see it is that the term “technopreneurship” is redundant if not misleading (some people tend to only see the “technology” part and forget about the “entrepreneurship” part when the word technopreneurship is used). If a community wants to step up its technopreneurial know-how, what it needs to do first and foremost is learn and master the principles of entrepreneurship.

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10 Comments

Filed under Definitions, Education, Entrepreneurship, Technopreneurship

10 responses to “Unique Principles of Technopreneurship

  1. Technopreneurship = entrepreneurship applied to the technology industry. Sounds right to me.

    In other words, to succeed in the technology industry, you still have to apply the same principles of good entrepreneurship. A lot of people forget that. Good thing you’re reminding them of it.

  2. I agree with Mark on the exact differences between technopreneurship and entrepreneurship; their difference is NIL.

    Basically, if technologists wanted to venture or put up a business, then they should learn the principles of ‘entrepreneurship’ as the starting point (and they have to learn much more things along the way). Moreover, as ‘entrepreneurs’ with interests in developing and/or selling technologies, they should know the principles also of “product design and development”. Remember, the worth of products the technologists developed are always less than the value the market it created.

  3. Edwin

    As personally being a technopreneur and at the same time a Master student specializing in entrepreneurship, I would argue there is a difference between a technopreneur and an entrepreneur:

    An entrepreneur is not familiar with advanced technology. Often he/she did not have technical education and is therefore less comfortable with the technologies used in innovative products/services.
    The entrepreneurs, compared to technopreneurs, are therefore less familiar with the processes of technological development and their characteristics, like time-consuming, uncertain, etc.

    Coming back to the points of other replies, technopreneurship is indeed the same as entrepreneurship. But a technopreneur who has technical knowledge and skills for dealing with technology in business, has a great advantage compared to a ‘normal entrepreneur’.

  4. Thanks for your reply, Edwin. Perhaps your definition of ‘entrepreneur’ is different from mine. I follow Peter Drucker’s school of thought when it comes to the word entrepreneur and what it means.

    Drucker defines an entrepreneur as a person who knows the playing field well or at least is able to tap individuals who can help him map the playing field well. An entrepreneur is also a purveyor of disruptive technologies and constant economic change. In this case, entrepreneurship really is no different from technopreneurship.

    It seems that the ‘normal entrepreneur’ you are referring to is a more of a ‘business amateur’ who went into the business with little to no knowledge of the environment he is operating in. For me, he is anything but a ‘normal entrepreneur.’ More details on how I view a true entrepreneur: http://technopreneurship.wordpress.com/2006/11/29/defining-technopreneurship/

  5. Romel

    Hello there, what is the difference between technopreneurship and entrepreneurship plz..reply

    • If the idea I posted earlier is correct, that is:

      Technopreneurship = entrepreneurship applied to the technology industry

      Then entrepreneurship can be seen a a superset with technopreneurship being a subset. The two ae basically the same except that technopreneurship is applied to a specific industry,

  6. Maria Elena

    I will have to agree: no difference between entrepreneurship and technopreneurship. I go by Drucker’s definition, too. The operative term here is disruptive. Whether or not the innovation involves advanced technology, if the venture involves innovation, it is entrepreneurship.

    An entrepreneur is, therefore, an agent for change.

    If any distinction is to be made at all, it should be between those introducing change and those who merely go into self-employment for the sake of being their own bosses, like convenience store owners (i.e., the sari-sari store owners), daycare centers, and the like. In short, entrepreneurial vs. small business ventures.

  7. Mark

    @Maria, I agree with your comment. Except that the last paragraph probably needs clarification since just because one is starting a small business venture, it doesn’t mean that one cannot be disruptive. It is certainly possible to set up an innovative, well-managed, and profitable sari-sari store given the correct business model design. Furthermore, disruptive businesses tend to start as small ventures (although I’m probably just arguing with you about semantics in this last part)

    So, from my perspective, the distinction is really just between entrepreneurial and a dead-on-arrival business venture. :-)

  8. I like your comment Mr. Mark.

  9. $Allan$

    hello what is the difference between technopreneurship and small business venture

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