2 technopreneurship

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2 technopreneurship

  1. 1. 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
  2. 2. 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 Technopreneurship Study Mission – South Korea
  3. 3. PMSB-IS304 What is Technopreneurship? Technopreneur Entrepreneur Innovation Technology 3
  4. 4. PMSB-IS304 Technology n  Not necessarily “hi-tech” n  Early adopters and early majority (MIT OpenCourseWare) n  Applications of knowledge to human work 4
  5. 5. PMSB-IS304 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 5
  6. 6. PMSB-IS304 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 6
  7. 7. PMSB-IS304 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 7
  8. 8. PMSB-IS304 Technopreneur Characteristics n  Innovation – critical to compete n  Management – to control n  Profitable – to stay alive 8
  9. 9. PMSB-IS304 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 9
  10. 10. PMSB-IS304 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 10 http://toptencharlierose.blogspot.com/2008/04/top-10-best-charlie-rose-interviews-4.html
  11. 11. PMSB-IS304 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) 11
  12. 12. PMSB-IS304 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 12
  13. 13. PMSB-IS304 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 13
  14. 14. PMSB-IS304 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?
  15. 15. 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” 15
  16. 16. PMSB-IS304 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 16
  17. 17. PMSB-IS304 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 17

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