I am John Kevin E. Bayking a Bachelor of Science in Information Technology and enrolled at IT Elective 3 which the description is Technopreneurship. In our prelim lesson we discuss lots about Technopreneurship. In earlier viewpoints 1700-1950s the word entrepreneur comes from French word ‘entreprendre’ which means individuals who undertake (the risk of new ventures).  Entrepreneurs people who enter into new and pioneering ventures and also they are using whole-brained, meaning he/she uses both the left brain (logical) and right brain (creative).  According to Richard Cantillon, a French economist the entrepreneur invests, transforms and makes (profit or loss).  Technology + Entrepreneurship is equal to Technopreneurship. It is entrepreneurship in the field of technology. Technopreneurship is being an entrepreneur by using existing technologies & suiting it to a new application, Inventing or developing a new product. High tech ventures in ICT, electronics, internet, life sciences and biotech. The service firms where technology is critical to their mission, such as e-Bay,  FEDEX, SMART money transfer, e-learning . Innovations are not confined to tangible products but also include services and processes.  There are some discription of Technopreneurship like from Mankani, D. Describing an entrepreneur who uses cutting- edge technology to develop new business models, and from anonymous “Someone who uses technology to do something new or invents new devices & then makes a business from selling these new things”.

There is some importance of technopreneurship. a. Employment creation – Entrepreneurs create employment for themselves and other people. They are employers, and hence assist in solving the unemployment problem in the country. b. Local resources – When entrepreneurs utilize local resources, the value of these resources increases. c. Decentralization and diversification of business – Entrepreneurs are able to identify business opportunities and locate these businesses in suitable areas, including rural areas. d. Promotion of technology – By being creative, entrepreneurs are able to contribute to the utilization and development of technology. e. Capital formation – Entrepreneurship increases capital formation and investment. f. Promotion of an entrepreneurial culture – By projecting successful images, entrepreneurs becomes models than can be copied by young people.  There are people want to become a technopreneur beacause there are some reason first Thousands of new ventures have been set up every year around the world and venture capitalists have invested billions of dollars into these business. And the second is internet is still in its infancy. The third is many technopreneurs are hoping that their product, service or solution will become the industry standard in their chosen field in the same manner as we have Internet Explorer for web browsing, Amazon for online book and eBay for Internet auctions.and the last reason is high risk for technopreneur investment but their rewards are great such as founders of Microsoft, Amazon and eBay and their backers.

The people have a knowledge in technopreneurship is they Able to identify the business or consumer need, Not limited to a certain idea but expand the idea, Identifying market needs and offering the solution, he has to ensure the technology to make the idea work exists or can be developed at a reasonable cost and within a reasonable time, He thinks of workable idea, then bounces it to friends or associates. After receiving feedback, and deciding, he starts the business plan. Finally, he tries to get financing. There are also course model called SEED in Technopreneurship.  The first is Self Mastery it is a passion comes from knowing yourself.  Self-mastery brings passion.  When you know yourself, you know what you want and do not want. And you will become a self-mastered person by following this “does not need high Intellectual Quotient (IQ) if it is high, this will be beneficial to him or her”, “ does need high Emotional Quotient (EQ)-ability for an entrepreneur/technopreneur to connect to other people and be able to feel others’ emotions easily”., “does need high Adversity Quotient (AQ)- is the ability to rise up after a failure and to go against the norm”. She/he can naturally shift to different personality traits according to the need of the moment like a performer he is a competitive and efficient, epicure(enthusiast) he/she is sensual and cheery or a boss that takes charge and loves a good fight.Self Mastered person is whole-brained(he/she uses both the left brain (logical) and right brain (creative) has a personal vision and knows strengths  and weaknesses. So the second of course model is Environment mastery it is about generating business ideas and seeking opportunities out from his or her environment through Serendipity walks it is a walk and stumbled upon something completely unexpected, Crisis the opportunity in crisis through crisis you can think more ideas for your business, Trends it is a opportunities and innovative ideas can be found in current trends and fashion. There are also environment mastered person they ca understands the industry he/she is in,they sees the opportunities not the problems, they is on top of the situation instead of being  under the situation and is the organization/industry innovator and strategist. The third is Enterprise Mastery is about how to run a business. This pertains to the knowledge of the different enterprise disciplines such as, Creating the Business, Marketing Management, Operations Management, Operations Management, Financial Management, and Risk Management. Enterprise mastered person is they understands and integrates the functions of management (marketing, human resource, operations, and finance), understands and integrates the process of management (planning, organizing, directing, and controlling) and leads and inspires rather than manage. The last is Development of a business plan it is covers the writing the business plan, presenting and defending the business plan adding refinements to the presented business plan.

In further discussion there are also a characteristic of entrepreneur 1. Hard Working: running a business

requires a lot of energy and drive. This involves the ability to work for long hours when necessary, to work and to cope with less than a normal amount of sleep. 2. Self-Confident: to succeed, entrepreneurs have to believe in themselves and in their ability to achieve the goals they have set for themselves. This is often shown by a belief that “if you want something badly enough and are prepared to work at it, you’ll usually get it”. 3. Builds for the Future: the goal for most successful business people is to build a secure job and income for themselves which is based on their own abilities. This means entrepreneurs understand that it may. 4. Profit-Oriented: interest in generating money is a clear indicator of an entrepreneur’s suitability for being a business owner. This means recognizing that the business comes first. Once profits are generated, the entrepreneur can make decisions about how the profits can be used – to expand the enterprise or for personal use. 5. Goal-Oriented: success in business depends upon being able to set realistic goals or targets and to work with determination to achieve them. This ability to set goals (for things the person thinks are worthwhile) and to work to achieve them is fundamental to being an entrepreneur. 6. Persistent: all businesses have their problems and disappointments. Being persistent in solving a problem is one of the keys to being a successful entrepreneur. 7. Copes with Failure: all business ventures inevitably contain disappointments and failures as well as successes. Coping with failures involves recognizing these failures, learning from them and seeking new opportunities. Without this characteristic, early failures may end a person’s attempt at self-employment. 8. Responds to Feedback: entrepreneurs are concerned to know how well they are doing and to keep track of their performance. Obtaining useful feedback and advice from others is another important characteristic of entrepreneurs. 9. Demonstrates Initiative: research shows that successful entrepreneurs take the initiative and put themselves in positions where they are personally responsible for success or failure. 10. Willing to Listen: the successful entrepreneur is not an inward looking person that never uses outside resources. Self-reliance does not exclude the ability to ask for help when needed from such people as bank officials, accountants and business advisers. Being able to listen to the advice of others is a key characteristic of an entrepreneur. 11. Sets Own Standards: setting standards of performance and then working to achieve them is another indicator of a successful entrepreneur. These standards can be income, quality, sales or product turnover. Most entrepreneurs want to do better each year, to set and achieve higher standards from year to year. 12. Copes with Uncertainty: being an entrepreneur is much more uncertain than employment. This uncertainty is about sales and turnover, but it often also exists in other areas such as material delivery and prices, and bank support. An ability to cope with this uncertainty without becoming too stressed is a necessary trait of being an entrepreneur. 13. Committed: starting and running an enterprise demands total commitment by the entrepreneur in terms of time, money and lifestyle. It has to be a major priority in the entrepreneur’s life. 14. Builds on Strengths: successful business people base their work upon the strength(s) they have, such as manual skills, interpersonal skills, selling skills, organizational skills, writing skills, knowledge of a particular product or service, knowledge of people in a trade and ability to make and use a network of contacts.