1.2.1 What we know about techno-entrepreneurship?
The following definition of technology entrepreneurship is proposed by Bailetti (2012), “Technology entrepreneurship is an investment in a project that groups together and sends out and uses specialized people and different things of valuable things that are in a detailed way related to advances in scientific and technology knowledge for the purpose of creating and taking control of value for a firm”
The proposed definition of technology entrepreneurship is based on four elements:
1. Final results. Value creation and the act of being taken or controlled by force are identified as two results of technology entrepreneurship because the sources that create value and the sources that capture value
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Entrepreneurs can give to money-based development by helping the giving out things in a different way of useful things from less to more productive uses (Acs & Storey, 2004), by performing 'cost-discovery', 'gap-filling', and 'input-completing' functions in the economy (Leibenstein,1968) and by supporting structural change (Gries & Naude, 2010). However, not all entrepreneurs create something new. There are many factors that can relate entrepreneurship with the invention of new things.
First, the effect of innovation is important across different countries and institutional contexts. But the nature and role of the invention of new things will differ at different levels of economic development. Entrepreneurs in poor developing countries provide innovation that is important for the firm and country growth, even if they are in small steps up in nature. The invention of new things in developing countries involves the process by which firms master and put into use the design and production of products and services that are new to
Part one of this book deals with the shift from a mercantile economy into a “modern economy”. “A modern economy turns people who are close to the economy, where they are apt to be struck by new commercial ideas, into the investigators and experimenters who manage the innovation process from development, and in many cases, adoption as well.” (Phelps 27) The shift from a mercantile economy to a modern economy stopped people from just buying...
Richard Jun is a Partner at BAM Ventures, a leading firm who has invested in the Honest Company along with many other successful startups. However, like many people in Venture Capital, he didn’t know he wanted to do that job until after his first entry level position. Like the Managing Partner of JUMP Investors, he started as a lawyer. He graduated from Columbia Law School and went into Corporate Law for a Korean Entertainment Company. However, he was quickly bored of his legal job, and left his position to become the General Counsel of ShoeDazzle, a startup created by Brian Lee and Kim Kardashian. From there, he took many other roles in the company. Coming from a legal standpoint, he found it much harder to work as the other positions, such as the CMO. As the company continued to grow, he started to realize what problems a growing company has. Some problems hit such as the company not growing as fast and having to lay off people. Richard didn’t have previous experience in operations and executive
For entrepreneurs whom are willing to accept the risk associated with starting a business, some have made themselves extremely wealthy. Although our economy is focused on capitalism as a means of promo...
As Percy Bysshe Shelley said “There is no real wealth but the labor of man.” Often called the land of opportunity, the United States of America is known for its free market economy. In this free market economy, America has planted the seed for future entrepreneurs. Throughout time, this seed will eventually grow into a tree that will bear the fruits of one’s labor. However, many entrepreneurs have found different ways to cultivate this seed to bear fruit.
Governments can inspire both the creation of wealth in an economy and entrepreneurship within that economy as well. Using different policies, they can provide incentives for entrepreneurs to start businesses, such as lowered taxes, private ownership, and less risk/corruption while starting a business. This inspiration leads to growth in an economy and a positive increase in entrepreneurship.
Necessity may as well be the mother of invention, but it might truly be the reorganization of information that is the core of innovation. Reorganization and not organization simply because information is organized in order to invent and needs to be further reorganized in order to innovate. This brings us to the fact that interrelation between innovation and invention may be termed as either quasi-parasitic or commensal, simply as innovation is impossible without invention.
One of the primary duties of an entrepreneur is to continuously raise capital for his or her business. But what happens when that business is still in its startup stage? How will an entrepreneur raise capital for a new small business startup? I intend to use this article to reveal the fundamentals of raising capital for your business.
The aim of this project is to establish the role of imitation, innovation and innovation policies in the economic growth experienced by the three major emerging economies in the Asia-Pacific (APAC) region i.e. China, India and South Korea (CISK). All these three economies have seen transformation from being imitation giants to innovation powerhouses. So, the big question is whether innovation has indeed played any role in the superior economic growths experienced by these countries. What are the major determinants of innovation in these economies? How have the economic reforms (China-1978, India-1991 and South Korea-1998) and changes in government policies
"Entrepreneurs who start and build new businesses are more celebrated than studied. They embody, in the popular imagination and in the eyes of some scholars, the virtues of "boldness, ingenuity, leadership, persistence and determination." Policymakers see them as a crucial source of employment and productivity growth. Yet our systematic knowledge of how entrepreneurs start and grow their businesses is limited. The activity does not occupy a prominent place in the study of business and economics.
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.
Entrepreneurship incorporates unconstrained imagination and a readiness to settle on choices without strong information. The entrepreneur may be driven by a need to make something new or assemble something unmistakable. As new ventures have low achievement rates, the business person should have impressive tirelessness. Because of this, the entrepreneur may have the best risk of achievement by concentrating on a business sector corner either too little or too new to have been commanded by built up organizations.
Nowadays, entrepreneurship becomes most popular career, where our government encourages our graduated student to involve in business so that unemployment will not happen in our country. Policymakers, academics, and researcher agree that entrepreneurship is a vital route to economic advancement for both developed and developing economics (Zelealem et al., 2004). Entrepreneurship has many types for example small business and others. Today small business, particularly the new ones, is the main vehicle for entrepreneurship, contributing not just to employment, social and political stability, but also to innovation and competitive power (Thurik & Wennekers, 2004).
It can be concluded that entrepreneurship cannot exist in the absence of innovation. Innovative entrepreneurship is the key to a successful business leading to economic development. Entrepreneurs are very prominent figures of society and therefore their actions and decisions have a significant impact on the welfare of stakeholder groups. Sustainability plays a vital role in this relationship in that it provides a solid foundation upon which a business can expand with more temerity and assuredness.
Entrepreneurship is a key driver of our economy, wealth and the majority of jobs are created through entrepreneurship, and it also helps and educates people in terms of growth and realizing opportunities (Nolan, 2003). Entrepreneurship is also seen as one of the important contributing factor to local development (Nolan, 2003).
Business involved by two or more members of the family and is owned within the family is the simplest way to define family business. In this type of business the positions in the company is filled according the family blood. The founder of the business is usually the skull of the company, the rest of the positions are taken place by the family member which are usually higher positions where else other positions are filled by non family members.