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Technopreneurship
IS427 Wed 15:30-18:45 SIS SR 3.2 Wiki: http://wiki.smu.edu.sg/1112t2is427g1/
Technopreneurship Study Mission – South Korea
Printed on 18/1/12 Technopreneurship Study Mission – South Korea 1
PMSB-IS304
Overview n Content
n What is technopreneurship? n Traits/characteristics
n After this module, you should be able to n Describe technopreneurship n Give examples of traits and characteristics
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Technopreneurship Study Mission – South Korea
PMSB-IS304
What is Technopreneurship?
Technopreneur
Entrepreneur
Innovation Technology
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Technology
n Not necessarily “hi-tech” n Early adopters and early majority (MIT OpenCourseWare)
n Applications of knowledge to human work
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Innovation
n Systematic act of turning “something” (product, idea, information, technology, etc.) into a resource that is of high value to its target market n Customers do not buy ideas, they buy products/
services
n Necessity is the mother of all invention
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Entrepreneur
n Practice of consistently converting good ideas into profitable commercial ventures n Who?
n Not just someone who starts his own, new and small business n Corporate employee can be entrepreneurial n Not every new small business is entrepreneurial
n What? n Ideas alone do not make a business n A marketable product may not result in a
viable business
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Entrepreneur vs Technopreneur
n No difference n They are the same
n Different n Entrepreneur looks for profits in static situation/ in
the new markets and products n Technopreneurer operates in dynamic situations,
innovate and hope that profits follow n Creates new markets and products and it is this innovation that
gives him the profit and competitive advantage
n Chicken and egg problem
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Technopreneur Characteristics
n Innovation – critical to compete n Management – to control n Profitable – to stay alive
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Many other characteristics
n Visionary, innovative, creative, practical, leader, n Rational, flexible, sees opportunity, n Hardworking, self confident, persistent, initiative n Profit oriented, goal oriented, committed, reliable n Set own standards, builds on strength, risk taker n Listens, integrity
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25 Common Characteristics http://www.entrepreneur.com/article/200730
Do what you enjoy Invest in yourself
Take what you do seriously Be accessible
Plan everything Build a rock-solid reputation
Manage money wisely Sell benefits
Ask for the sale Get involved
Remember it’s all about the customer Grab attention
Become a shameless self-promoter Master the art of negotiations
Project a positive business image Design your workspace for success
Get to know your customers Get and stay organized
Level the playing field with technology Take time off
Build a top-notch business team Limit the number of hats you wear
Become known as an expert Follow up constantly
Create a competitive advantage
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http://toptencharlierose.blogspot.com/2008/04/top-10-best-charlie-rose-interviews-4.html
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Examples of Technopreneurship
n From start ups (organic & early adopters) n Search in google n Social network in facebook n Online auction in eBay n Skype (low end innovation for telephone)
n From corporations (organic & early majority) n iPhone from Apple (hardware and OS) n Logistic tracking in UPS n Digital photography in Kodak (high end prof
photographer) in Fuji (low end children’s toy)
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Examples of Technopreneurship
n Local n Razer n Creative n Steve Wozniak, Apple’s co-founder, alleged that a
company like his could have never emerged in “structured” Singapore, a place he said does not encourage people to think for themselves and dishes out “severe” punishment for bad behavior
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Traits Exercise
n Charlie Rose interview with Mark Zuckerberg http://www.youtube.com/watch?v=-4wKlIa2O3Q http://www.youtube.com/watch?v=iPnss0rSAW4 http://www.youtube.com/watch?v=LFdUEkTzDeI
n Sheryl Sandberg, COO
n Consider an example of technopreneur n Think of a unique characteristic n Search for an event that shows this characteristic
that changes the company n Present your example, characteristic and event
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Individual: In class presentations and wiki report n The trait/characteristic of a company
n Connections (guanxi, family, companies, country, customer focus)
n Support environment (government, business, infrastructure, society, market maturity, reputation),
n Personality/company culture (integrity, leadership, competitive, pragmatic, savvy, creative, innovative, dynamic, risk taking, commitment to technology, excellent communication, team spirit, fun seeking, etc.).
n Research on this by reading a book and summarize. n Come up with examples of company events when this trait is vital to
the company. Explore this trait in some of the organization we will visit.
n What do you think is most important when starting your company?
14 Global Software Project Management
PMSB-IS304
Requirements for Entrepreneurship n Money
n Savings, Banks, Family, Partners, Business, VCs, Angels, Government,
n Target market analysis n Identified users, brief window of opportunity (fad),
early adopters, early majority n Staff
n Visionaries, Executors, Marketers, Financiers n Environment
n Government (Stable, effective legal, IP laws), Academic (incubators), R&D, VCs,
n Infrastructure, Internet, Roads, Hardware, n Tolerate failure “give second chance”
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Singapore Government Money n SMU IIE
n Innovation award $2,500, Implementation award $10,000-$50,000
n NUS-MIT SMART Innovation Centre NSF n Innovation grant $250,000 Ignition grant $50,000
Explorer grant $50,000 n MDA
n i.JAM, Development, Production, Marketing, Talent Schemes
n IDA n TAS Development grant, iSprint for SME 50%
n Spring n YES! Startup
n Singapore Economic development board (EDB) n IE Singapore
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Starting a company n Plant the seed
n Idea, market, product/service, business n Prototype and test the market
n Team n Vision/Executor/Marketer/Financier n CEO, CFO, CTO/CIO
n Writing the business plan n Obtain fund, principle, development plan and business
plan n Business-model, market-analysis, highlight the innovation
and uniqueness, management and realistic projection and accomplishments, risks/contingency plan
n Pitch/sell your product
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