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The Explainer: Technopreneurship

Book · January 2018

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Albert Jubilo
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 THE EXPLAINER:
TECHNOPRENEURSHIP

ALBERT B. JUBILO

1
 Foreword

This ebook entitled “The Explainer: Technopreneurship” is

intended to people who wanted to understand the term
technopreneurship easily. This includes topics on (1)
entrepreneurship definition, (2) relationship between
entrepreneurship, job creation and the national economy,
(3) nature of entrepreneurship, (4) differences between
entrepreneur and technopreneur, (5) high-tech industry, and
(6) description of technopreneurship.

This is the first ebook of Dr. Jubilo’s Entrepreneurship Ebook

Series. Other related and important topics will be included
in the next ebook series.

Dr. Albert B. Jubilo

2
Technopreneurship can be described by discussing first the
term “Entrepreneurship.”

Entrepreneurship is the ability and willingness to

develop, organize and manage a business venture
along with any of its risks in order to make a profit.

3
Relationship between Entrepreneurship, Job
Creation and the National Economy

What is entrepreneurship? The question can have several

answers. But it is considered as a process of achieving
something profitable but with risks involved. It is both the
study of how new businesses are created as well as the actual
process of starting a new business. These terms can be used
interchangeably.

An entrepreneur is someone who has an idea and who works

to create a product or service that people will buy, by
building an organization to support those sales. He or she
must have the innovative mind to start a new business.

4
Starting a business generally requires the following:
1. A business concept or idea involving a product,
service, process, or new technology
2. People to support the work, whether as employees,
vendors, or advisors
3. A process by which the product or service will be
delivered, or the technology will be developed
4. Enough money to support the development of the
idea to the point that it generates revenue

According to research by Cox Business, the main reasons

entrepreneurs go out on their own, rather than staying
employed, are:
1. Control – to be their own boss
2. Ambition – to start something from scratch
themselves
3. Financial – opportunity to earn more money

5
Starting franchised or familiar business is not
entrepreneurship. Why? because it is already with a
concept. However, a person who came up with the concept,
and invented the franchise system for that concept, is the
entrepreneur.

Actually, small and medium scale businesses are often called

the pillar of the economy especially in the community level.
National and Local Government Unit policies that encourage
the growth of small and medium scale businesses and the
role of entrepreneurship in the market are considered to be
healthy for the economy at large.

6
What is the link between entrepreneurship and job creation?
For a capitalist economy to flourish, there must be
competition, growth, and innovation.

Successful
entrepreneurs tend to
be naturally
competitive, think
outside of the box, and
see through many of
the easy answers to
see how an industry
could benefit from a
fresh take.

7
 When a new
business enters the
local or global
market, they begin
to shake things up.
Very few businesses
open and try to be
an exact replica of
another company.
Even if they have a
similar mission
statement and
unique value
propositions, they
target a new niche
or are expressing
their brand
differently.

New businesses may start by bringing an existing product to

a new group of customers, but at some point, they will begin
to draw customers away from other businesses if they are
going to succeed. Older companies are forced to make
changes or lose market share. Competition is generally
agreed to be necessary for a healthy capitalist economy.

8
In the field of manufacturing, much has been made about
how robotics has disrupted and continues to disrupt
traditional manufacturing jobs. As these line jobs have been
reduced, however, other fields have opened up to respond
to alerts, program systems, and repair and maintain systems
as they are used.

For example, Netflix disrupted the video rental industry to

the point that the neighborhood video store is basically a
thing of the past. In its place, people stream movies and
television to their TVs through a subscription service,
occasionally get DVDs in the mail, or pick up a movie from a
kiosk at the grocery store.

9
While jobs did move from one area to another, and it is
possible that the industry as a whole saw a net decrease in
positions, there was also a substantial shift from one area to
another. New warehouses opened up in new locations to
allow for processing of DVDs, and all those grocery store
kiosks require maintenance and upkeep.

Small businesses operate with fewer employees, less

overhead, and less infrastructure than large companies. In
typical market conditions, this can be a disadvantage. A small
business might lack the clout to organize a discount on a
particular supply, or be unable to attract the very best talent
because they cannot offer the same kind of compensation
package as a very large company.

But small businesses are much more flexible and nimble in

terms of adjusting to changing market conditions than big
businesses. Small businesses might operate on a time scale
of weeks or months, whereas big businesses need to talk
years in advance in order to get things done.

When they see an opportunity, a small business is able to

quickly react to take advantage of it. By the time a big
business has enough meetings and approvals to act, the
chance may very well have passed.

10
Competition pushes companies to streamline. While small
businesses are more dexterous overall, big businesses that
survive disruption generally push to become more
streamlined, to maintain their power while reducing their
bulk. Streamlining big businesses can drive innovation just as
much as nimble small businesses can.

When big businesses streamline in order to respond to small

businesses, they end up pushing other big businesses to
move in a different direction as well.

When experts look at small businesses on the whole, they

say that small businesses create jobs in an S wave. A large
number of people are hired at the beginning of a business,
then there is a period of flat growth as competition right-
sizes or closes, and then an increase as the smaller business
grows.

As a small business becomes big, it faces additional

challenges from other small, startup companies that are able
to innovate more quickly and disrupt more intensely. This
can be seen with Apple; while Apple remains a lifestyle brand
that many people happily pay a premium for, they have not
been considered the top of the tech field for some time.

In other words, entrepreneurship

helps to increase jobs and offer
better alternatives making the
economy dynamic and strong.

11
Nature of Entrepreneurship

Entrepreneurship is the practice of starting a business

to provide a product or service to the free market. The
product or service does not need to be new or
innovative, but this is what many people typically
envision when looking at entrepreneurship because
there is more risk in presenting a new idea. There are
several themes common among entrepreneurial
startups.

Entrepreneurs, those starting the companies, often

make decisions biased toward their company, morals or
expected outcome rather than basing decisions on
reasons, logic and economic factors. The reasons are is
emotions. Entrepreneurs are much more emotionally
invested in their company and hopes for future success.

There is always a learning curve for entrepreneurship

which can be steep for a newcomer or more gradual for
an experienced person but educational growth is
always expected. The growth occurs because no
company has worked under the exact circumstances of
the entrepreneurial company. Even in a proven business
model there are new people, a new market, market share,
12
and many more which affect the way the company works.
When a new product is introduced there is an even greater
learning curve as people react to it.

Entrepreneurship is currently on the rise throughout many

national economies. Economies are becoming increasingly
global which allows for a greater method of sharing ideas and
exploring new market opportunities. Technology has
increased access to people, places and assets not previously
usable. There is also a current economic global recession
which has encouraged entrepreneurship as older persons
and university graduates are frustrated by lack of job
opportunity in the traditional manner. There is an increasing
acceptance in society for failed business which may
encourage many to attempt to create a new company with
less social stigma for failure.

13
Differences between Entrepreneur and
Technopreneur

There are similarities and differences between entrepreneur

and technopreneur. Their similarities are:
1. Identify needs,
2. Build products,
3. Mitigate risks, and
4. Take the products to market.

However, the two have differences, such as:

Entrepreneur Technopreneur
•Likes to compete •Likes to innovate
•Is a self-starter •Is part of a team
•Is able to do many •Is able to do many
things at once things at once, but
chooses to delegate
•Is creative, and has •Is innovative and has a
dreams and goals greater vision
•Likes to work for him •Likes to be the one to
or herself and be in control innovation and be
control part of an evolution
•Is motivated by a •Is motivated by a strong
strong desire to achieve vision and his passion to
and attain financial innovate
success
•Focuses his/her •Takes failure in stride
attention on the and knows it will lead to
chances of success success if correction can
rather than the be made
possibility of failure

14
What is High-Tech Industry?

High technology, often abbreviated to high tech (adjective

forms high-technology, high-tech or hi-tech) is technology
that is at the cutting edge: the most advanced technology
available.

As of the onset of the 21st century, products considered high

tech are often those that incorporate advanced computer
electronics. However, there is no specific class of technology
that is high tech—the definition shifts and evolves over
time—so products hyped as high-tech in the past may now
be considered to be everyday or even outdated technology.

15
High-tech industry is an industry using or involving advanced
methods and the most modern equipment. The following
are the industry classification according their technology
intensity, product approach according to finished products.
1. Aerospace
2. Audio Technology
3. Automotive
4. Artificial Intelligence
5. Automation
6. Biotechnology
7. Bioinformatics
8. Computer Engineering
9. Electrical and Electronic Engineering
10. Information Technology
11. Medical devices
12. Nanotechnology
13. Nuclear Physics
14. Photonics
15. Robotics
16. Semiconductors
17. Telecommunications
18. Electromagnetic Engineering

16
 Many countries and regions like United States, Israel,
Singapore, Canada, Italy, Greece, Denmark, Belgium, the
Netherlands, Norway, Ireland, Iceland, Lithuania, Japan,
Russia, the United Kingdom, Estonia, Australia, New Zealand,
Germany, Poland, South Korea, Taiwan, Hong Kong, Finland,
Spain, Sweden, Switzerland and France are generally
considered high-tech in relation to other countries, since it is
common for its citizens having access to cutting-edge
technology, in consumer's terms, as can cities like Shenzhen
in China and Mumbai in India. Some geographical areas,
such as the Silicon Valley, can be considered a high-tech
startups society.

The top ten countries which are exporting high-tech goods

and services are: China, Germany, United States, South
Korea, Japan, Singapore, France, Netherlands, United
Kingdom and Malaysia. The Philippines is the 18th on the list.

What is Technopreneurship?

Based on the above discussion, technopreneurship is the

combination of technology and entrepreneurship. Actually,
this will focus on innovation through the good use of
technology. The good use of technology is an integral and
key element in the transformation of goods or services.

Technopreneurship is a practice of
consistently converting good ideas
into profitable commercial ventures
using technology and innovation.

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