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TECHNOPRENEURSHIP 101 CEES 9  INTRODUCTION to TECHNOPRENEURSHIP 2 PRESENTATION OUTLINE Entrepreneurial Mindset Understanding Technopreneurship and Innovation Products and Services Team Formation...

TECHNOPRENEURSHIP 101 CEES 9  INTRODUCTION to TECHNOPRENEURSHIP 2 PRESENTATION OUTLINE Entrepreneurial Mindset Understanding Technopreneurship and Innovation Products and Services Team Formation 3 ENTREPRENEURIAL MINDSET 4  ENTREPRENEURIAL MINDSET ▰ An entrepreneurial mindset is a set of skills that allows people to recognize and capitalize on opportunities, overcome and learn from setbacks, and succeed in a variety of settings. - Network for Teaching Entrepreneurship (NFTE) 5 ENTREPRENEURIAL MINDSET Critical Thinking and Problem Solving The capacity to apply higher- level, process-oriented thinking and consider an issue from a range of possible perspectives, and use that reasoning to make decisions. Flexibility and Adaptability The ability and willingness to change actions and plans to overcome present and future challenges. 6 ENTREPRENEURIAL MINDSET Communication and Collaboration The ability to clearly express ideas to an intended audience, including persuading others to work toward a common goal. Comfort with Risk The capacity to move forward with a decision despite inevitable uncertainty and challenges. Initiative and Self Reliance The power to take ownership of a project without input or guidance and work through obstacles independently. 7 ENTREPRENEURIAL MINDSET Future Orientation An optimistic disposition with a focus on obtaining the skills and knowledge required to transition into a career. Opportunity Recognition The practice of seeing and experiencing problems as opportunities to create solutions. Creativity and Innovation The ability to think of ideas and create solutions to problems without clearly defined structures. 8 UNDERSTANDING TECHNOPRENEURSHIP AND INNOVATION 9  Understanding Technopreneurship and Innovation ▰ The term “technopreneurship” was derived logically from the words "technology" and "entrepreneurship”. ▰ Technopreneurship is an entrepreneurship with intensive focus in technology. It is a process of merging technological expertise and entrepreneurial skills. 10  Understanding Technopreneurship and Innovation ▰ A technopreneur is someone who uses available technology to revolutionize the prevailing economic order. ▰ They introduce new product and service concepts to the market. ▰ They use technological solutions to modernize traditional company methods, which is a positive development in the field of business. 11  Understanding Technopreneurship and Innovation ▰ Technopreneurs start their businesses with a validated brainstorming session. Once they reach an innovative idea, they start plugging technology into this idea. 12 Understanding Technopreneurship and Innovation 13 Understanding Technopreneurship and Innovation Is technopreneurship all about technology? NO! Technology does take the center stage here, but that’s not all there is. The idea is the skeleton here. Once you nail a brilliant idea, you are already halfway through to becoming the next successful technopreneurs of all time. 14 Understanding Technopreneurship and Innovation 15  Understanding Technopreneurship and Innovation ▰ Coming up with an idea is the way to begin. ▰ To succeed as a technopreneur, you don’t have to invent anything, rather you have to innovate. ▰ You need to think of solving a problem that exists, using the tools that exist – only in a new and better way. 16 Understanding Technopreneurship and Innovation ▰ It takes years for an idea to become commercially viable. ▰ Nonetheless, you can use that time to refine your skills and – enhance your technical skills, develop your communication skills, as well as form new connections. 17  Importance of Technopreneurship ▰ Technopreneurship business ideas play a significant role in uplifting the engagement of technology with human development. ▰ It contributes hugely to the economic development of the world 18  Importance of Technopreneurship List of the various additional ways in which technopreneurship adds to development: 1. Generates job vacancies ▰ Startup businesses create an increased amount of job vacancies. 2. Boosts utility of local resources ▰ The utilization of local resources helps in the growth of its value too. 19  Importance of Technopreneurship List of the various additional ways in which technopreneurship adds to development: 3. Technological Advancement ▰ An innovative and creative technopreneur plays a significant role in uplifting the engagement of technology in society. This in turn empowers our engagement with evolving technology as well. 20  Importance of Technopreneurship List of the various additional ways in which technopreneurship adds to development: 4. Capitals and investments ▰ Investments are one of the most essential parts of any business. They take economic support from various investors. They use the public savings which in turn leads to economic flow and development. 21  Importance of Technopreneurship List of the various additional ways in which technopreneurship adds to development: 5. Encourages entrepreneurial activities ▰ The young generation finds massive inspiration in entrepreneurs/technopreneurs. They do get golden opportunities to work in association with such firms. 22 Examples of Technopreneurs 23 Examples of Technopreneurs 24 Examples of Technopreneurs 25 Examples of Technopreneurs 26 Products and Services 27  Products and Services A product is a tangible item that is put on the market for acquisition, attention, or consumption, while a service is an intangible item, which arises from the output of one or more individuals. 28  Products and Services A technopreneur defies the present economic order by ideating a product or service that uses technological solutions to change the traditional way of doing something. 29  Products and Services Uber Founders, Garrett Camp and Travis Kalanick came up with a brilliant idea of being able to book a cab with just a few clicks from any location. 30 Products and Services 31 Team Formation 32 Team Formation Building a technopreneurial team can be a great way to spur creativity and innovation even in very large organizations. 33 Team Formation Focus on Complementing Employee Skills as Opposed to Doubling Down on Them “Managers don’t need to find more people like themselves—they’re already part of the team.” 34 Team Formation Always Be Looking for Talent “Managers should always be keeping an eye out for outstanding people who can bring innovation to the company.” 35 Team Formation The Team Should be Collaborative but Not Necessarily Close Friends “In general, having close personal friends as part of your core team is a bad idea,” writes Hull. “They’ll often avoid real feedback and simply want to pump you up. Building a team with fellow business professionals you respect and admire is different.” 36 Team Formation Managers play a critical role in that process and need the information and skills to be able to identify gaps and fill them with the right staff and then create and sustain a workplace climate that fuels communication and collaboration. 37 Team Formation 1. Five leaders/managers will be selected through nomination and voting. 2. The manager may recruit 4 or 5 members in his/her team or anyone who wants to be part of his team may apply. 3. After forming a team, create your team name. 38 Team Formation 4. Submit a list of team members in the format: Team/Group Name: Team Leader/Manager: Team Members: 5. Present your team in class. It will be your team for the whole semester. 39  --end-- Sources: What is Technopreneurship? Meaning and business model – TheCodeWork https://hrdailyadvisor.blr.com/2018/09/28/building-an- entrepreneurial-team/ 40