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
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
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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
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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
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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
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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
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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)
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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
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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
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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”
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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
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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
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