This document provides an overview of a course on technopreneurship at SMU. It defines key terms like technology, innovation, entrepreneur, and technopreneur. It discusses the differences between entrepreneurs and technopreneurs. It also lists common characteristics of technopreneurs and examples of technopreneurship from startups and corporations. Finally, it discusses requirements for entrepreneurship and how to start a company.

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. 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. PMSB-IS304
What is Technopreneurship?
Technopreneur
Entrepreneur
Innovation
Technology
3

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. 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. 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. 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. PMSB-IS304
Technopreneur Characteristics
n Innovation – critical to compete
n Management – to control
n Profitable – to stay alive
8

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. 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. 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. 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. 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. 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. 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. 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. 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