---science, technology and venture creation

(A Division of Institute of Classic Entrepreneurship)


Technology entrepreneurship is a vehicle that facilitates prosperity in individuals, firms, regions, and nations.The study of technology entrepreneurship therefore, serves an important function beyond satisfying intellectual curiosity.Technology entrepreneurship is the meeting point between simply dreaming up cutting-edge technologies and developing them to become successful, sustainable and scalable from both a business and technology standpoint.

There are those who tinker with new ideas such as computer designs, software or renewable power sources. There are also those who understand how to design and maintain a restaurant franchise or a corporation. Technology entrepreneurship is somewhere in between.

Technology entrepreneurship differs from other forms of entrepreneurship in that a tech entrepreneur, often intentionally, finds himself or herself in a market with very little history or proof of its future viability. Therefore, a tech entrepreneur might have to balance their risks and possible profits without any precedents.


The field of technology entrepreneurship is in its infancy when compared to other fields such as economics, entrepreneurship, and management. However, we are at a point where we can leverage the insights contributed by previous work to create a clearer working definition of technology entrepreneurship.

Technology entrepreneurship is an investment in a project that assembles and deploys specialized individuals and heterogeneous assets that are intricately related to advances in scientific and technological knowledge for the purpose of creating and capturing value for a firm.

The proposed definition of technology entrepreneurship is based on four elements

1. Ultimate outcomes - Value creation and capture are identified as two outcomes of technology entrepreneurship because the sources that create value and the sources that capture value may not be the same over the long run.

2. Target of the ultimate outcomes - The firm is identified as the target organization for which value is created and captured.

3. Mechanism used to deliver the ultimate outcomes - Investment in a project is the mechanism mobilized to create and capture value. A project is a stock of resources (i.e., specialized individuals and heterogeneous assets) committed to deliver the two ultimate outcome types for a period of time.

4. Interdependence of this mechanism with scientific and technological advances - The individuals involved in a project influence and are influenced by advances in relevant scientific and technology knowledge

Basically, technopreneurship involves one or combination of the following:

1. creating and capturing value for the firm through projects that combine specialists and assets to produce and adopt technology

2. collaborative experimentation and production of new products, new assets, and their attributes, which are intricately linked to scientific and technology advances and the firm’s asset ownership rights

3. projects that search for problems or applications for a particular technology, launch new ventures, introduce new applications, and exploit opportunities that rely on scientific and technical knowledge provided that their ultimate outcome is to create and capture value for the firm

4. not about the general management practices used to operate small businesses owned by engineers or scientists or just about small businesses

Why Technopreneurship?

  • Over the last four decades, technology entrepreneurship has become an increasingly important global phenomenon
  • It is perceived as necessary for growth, differentiation, and competitive advantage at the firm, regional, and national levels.
  • Technology entrepreneurship appeals mainly to leaders and top management teams of small and large firms who use technology to create, deliver, and capture value for their stakeholders.
  • Technology entrepreneurship also appeals to personnel of regional economic development agencies that attract investments in productive technologies and talent to a particular geography.
  • The primary function of technology entrepreneurship is to assemble a combination of specialized individuals and heterogeneous assets in order to create and capture value for the firm through collaborative exploration and experimentation.
  • No business without new technology. For generation Y entrepreneurs, technology is central to starting a business. The present generation grew up with broadband at home and internet on our smartphones. We were never unconnected for long. As technology continues to progress at speed we automatically seize each new development to discover how it can further improve and ease our lives.
  • A handful of technologies have contributed to an explosion of entrepreneurship in the past decade, making the prospect of starting a tech company — or tech-enabled company — more accessible to people around the world.
  • It offers limitless access, so we're always in control of what's going on and constantly aware of what we need to do next, enabling us to problem-shoot issues far more efficiently
  • Firstly, we don't have to be tied to our desks to work: we can be out looking for new opportunities to expand and meeting new contacts to better our business. Being able to manage business on the move with cloud enables one to dramatically increase his productivity and save time
  • All entrepreneurs enjoy the excitement of building a business, but the necessary administrative tasks are often less alluring. By taking advantage of technologies such as the cloud, we are able to focus on the creative side of growing our business and spend less time getting bogged down in paperwork
  • The internet has been a great equaliser, giving small businesses access to global markets and low-cost ways of professionalising their image, boosting efficiency and serving customers more easily.

Need to make more enquiries?

See membership GET IN TOUCH

    Institute of Classic Entrepreneurs (ICENT).,317 Ibrahim Taiwo Road, Opposite SUBEB (1st Floor), Lokoja, Nigeria.

    CALL US:
    +2348033893087, +2348034044096
  • © 2021 ICENT. All rights reserved
    Designed by BURUJTECH