Summary

References: Mohamed Dahlan Ibrahim, Ph.D

•Technopreneurship is a process through which individuals and teams bring together the necessary resources to exploit opportunities and in doing so create wealth, social benefits and prosperity.
•The role of technopreneur as agent of economic growth.
•The technopreneur must know how to use knowledge to create innovation and new firms.
•The level of economic prosperity of a nation is determined by the level of entrepreneurial activity which flows from a combination of entrepreneurial capital and intellectual capital.

Factors leading to entrepreneurial success

References: Mohamed Dahlan Ibrahim, Ph.D

•Ability to initiate and operate a purposeful enterprise
•Ability to operate within the context and industrial environment at the time of initiation
•Ability to identify and screen timely opportunities
•Ability to accumulate and manage knowledge and technology

•Ability to mobilize resources – financial, physical, and human
•Ability to assess and mitigate uncertainty and risk associated with the initiation of the enterprise
•Ability to provide an innovative contribution that encompasses novelty and originality
•Ability to encourage a collaborative team of people who have the capabilities and knowledge necessary for success

Successful traits of technopreneur

References: Mohamed Dahlan Ibrahim, Ph.D

•Integrity
•Leadership
•Impatient: bias toward action (with analysis)
•Quick clock speed
•Modest ego. Seeks and accepts coaching
•Willing to be different, but knows it (not oblivious)
•Pragmatic: willing to compromise
•Rejoices in other’s victories
•Driven to solve a valuable problem for customers
•Strong entrepreneurial intensity
•Willingness to incur the costs of growth
•Willingness to use wide range of financing sources
•Emphasis on a team-based organizing structure
•Focus on innovation
•Committed to commercialization of technology discovery
•Excellent communication skills
•Understand the value of business principles
–Formation and execution of a sound business plan
–Raising of money
–Building an organizational team

Entrepreneurs vs. Technopreneurs (Similarities)

References: Mohamed Dahlan Ibrahim, Ph.D


•Is able to determine risk and has the courage to take risks
•Is independent and self-confident, yet knows where to get help
•Likes a challenge
•Hardworking and willing to stick with a project
•Is not easily discouraged
•Maintains good health, has lots of energy and can handle stress
•Has a strong sense of self-worth
•Is a positive thinker who does dwell on setbacks
•Often has a close friend or relative who owns a business

Entrepreneurs vs. Technopreneurs (Differences)

References: Mohamed Dahlan Ibrahim, Ph.D

Entrepreneur
•Likes to compete
•Is a self-starter
•Is able to do many things at once
•Is creative, and has dreams and goals
•Likes to work for him or herself and be in control
•Is motivated by a strong desire to achieve and attain financial success
•Focuses his/her attention on the chances of success rather than the possibility of failure

Technopreneur
•Likes to innovate
•Is part of a team
•Is able to do many things at once, but chooses to delegate
•Is innovative and has a greater vision
•Likes to be the one to control innovation and be part of an evolution
•Is motivated by a strong vision and his passion to innovate
•Takes failure in stride and knows it will lead to success if correction can be made

What is entrepreneurship?

References: Mohamed Dahlan Ibrahim, Ph.D

•The entrepreneur searches for change, responds to it, and exploits it as an opportunity. Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service (Drucker, 1985)


•Creating the “New” and destroying the “Old”
–New knowledge
–New products
–New processes
–New services
–New markets
–New business models
–New raw materials

Who is the technopreneur?

References: Mohamed Dahlan Ibrahim, Ph.D



•Someone who perceives an opportunity and creates an organization to pursue it.

•A person who undertakes risks (by creating an enterprise or business) that has the chance of profit (or success). Technopreneurs 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)

•The technopreneur is a bold, imaginative deviator from established business methods and practices who constantly seeks the opportunity to commercialize new products, technologies, processes, and arrangements (Baumol, 2002)

•The technopreneur distinguishes logic from tradition, tradition from prejudice, prejudice from common sense and common sense from nonsense while integrating a variety of ideas from diverse groups and disciplines (Manuel Cereijo, 2002)

Technopreneur and the Economy

References: Mohamed Dahlan Ibrahim, Ph.D

•Three elements of the intellectual capital

–Human capital

•The skills, capabilities, and knowledge of the firm’s people.

–Organizational capital

•The patents, technologies, processes, databases and networks

–Social capital

•The quality of the relationships with customers, suppliers and partners

What is technological entrepreneurship?

References: Mohamed Dahlan Ibrahim, Ph.D

What is technological entrepreneurship?


•It is a process of merging technology prowess and entrepreneurial talent and skills


Technology + Entrepreneurship = Technopreneurship