Technopreneurship
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. 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, and passionate in the calculation of risk.
A technopreneur is a person who revolutionizes the prevailing economic order by making the best use of technology at hand. They introduce new concepts of products and services in the market. In this technology-driven era, technopreneurs start their businesses with a validated brainstorming session. Once they reach an innovative idea, they start plugging technology into this very brainchild. It is all about using creativity and innovation to revolutionize business productivity and traditional practices.
Entrepreneurs and technopreneurs are not the same, but similar. You can say, technopreneurship is a new breed of entrepreneurship.
How to become a Successful Technopreneur?
The term “Technopreneurship” is very common these days as it has become the buzz word. It is not associated with exploring new ideas but it is about taking risks to figure out something new.
Build a team
Technopreneurship is the combination of one’s technical expertise with entrepreneurial talent. However, the base remains the same. When you have a brilliant idea, then it is the best time to find out the support and if you do not have the technological know-how, then hire a tech-savvy. If you have prowess in technology, then you need a marketing expert. This is not a one-man show and you always require support to turn the idea into reality.
Boosts problem-solving skills
Being a Technopreneur, you ought to expect troubles at every turn. Especially, in the beginning, you may tackle operational changes, funding, and also, regulatory obstacles. So, it is necessary to have problem-solving skills. If you failed in the real plan, you should pre-plan with an alternative. Moreover, there is also a need to analyze the cost, time, manpower, and resources needed for various avenues.
The decision on the final strategy
Decision-making is a significant skill that every technopreneur must-have. Being a technopreneur, you should expect to face obstacles at every turn. Especially, in the formative years, you may face operational challenges, funding crunch and even regulatory hurdles. So, having excellent problem-solving skills is necessary.
Work on your problem-solving skills
If the original plan proves to be ineffective, you should be able to come up with alternatives. You also need to analyse the cost, time, staff, and resources required the different avenues. More importantly, calculate the estimated returns.
Decide on the final strategy
The final step is to implement the solution, i.e. launch the product/service/platform you have been working on.
Being a technopreneur requires not only hard work, but also perseverance to make a certain idea work. That said, you should be ready to modify your idea or brainstorm for a new one, if necessary. But don’t forget to jump all in, get rid of the mental block and take calculated risks.
A technopreneur constantly learns and improves, innovates and disrupts the workings of people, organizations and nations as a whole. Today, if you don’t have the Facebook or WhatsApp app on your phone, people would think of you as being a strange person – You could argue that no one had either app less than 5 years ago but you would still be a strange person!
What we will see as the next big things include game-changing technologies like:
1. Artificial Intelligence, 2. Machine Learning 3. Augmented Reality expanding virtual reality extending the physical (AR) 4. Blockchain beyond Bitcoins, Distributed Ledger and Decentralised Data Base (BC) 5. The Internet of Things (IOT). This has already reached our living rooms with Amazon’s Alexa, Echo etc. 6. 3D Printing, Additive Manufacturing and Embedded Manufacturing (AM-3D) etc. 7. Robotics 8. Cloud Computing, 9. Business or Digital Analytics (DA) including Business Intelligence (BABI) and 10. Big Data are still going strong.What is Urbantech?
“technology that makes cities and urban spaces more connected, liveable and efficient – and can transform old-style services relatively inexpensively”,
Urbantech describes startup technology companies that directly improve city life and cities’ sustainability. Urban technology solutions enable an urban centre to be smarter, more sustainable, and more responsive. Urbantech therefore comprises a suite of technologies that can be segmented into verticals such as mobility, real estate, energy, and governance.
