All business enterprise that would involve high intensive technological skill to bring about rapid growth and significant resourceful real time decision making skills to aid entrepreneur in the process of industrial innovation connotes the theme of technological entrepreneurship.
Technological entrepreneurship makes use of knowledge of science and technology available to meet market needs, thereby making the business more productive, competitive and renown
Entrepreneur who makes use of technology as their driving force in transforming resources and ideas into goods and services to benefit the society and create an environment that supports and foster industrial growths are called technopreneur.
Technology Industrial Revolution:
Industrial revolution began with the rapid development of of industry brought about by the introduction of machinery which was characterized at that time with the use of steam power,mass production of manufactured food and a massive growth and expansion of factories. The industrial revolution began around the year 1860 in the United Kingdom and subsequently spread to other part of the world.
The onset of the Industrial revolution affected all aspects of the human life,most notably was the unprecedented sustained growth of average income and human population.
There was an automatic transition from the stress and duress of manual labour and draft animal - based economy towards machine based manufacturing,the mechanization in textile and iron making industries also facilitated that development of creative and innovation tools that facilitated mass production of more machines for manufacturing in other industries, these effect spread throughout western Europe and North America and eventually affected the whole world.
The person who is willing and able to convert a new idea into a successful innovation.
A person who would organize, and operate a business or businesses and would take on risk that are more than the ordinary normal financial risk in order to achieve and accomplish all the business goal
• Entrepreneurship:
This is the act of being a complete entrepreneur who undertakes innovation, finance risk and possess business acumen to transform invention into economic good
• Technology:
The thorough use of science and the knowledge of technology in manufacturing, engineering, and the processing of efficient service for the benefit of mankind.
• The Link:
Technology development and entrepreneurship has an equilibrium force in which each work hand in hand with the other to facilitate the growth of our lives and industries.
The Entrepreneurs searches out for innovative methods using technology to solve minor and major human problem.
Technology aid the entrepreneurs to process and make major step in the accomplishment of necessary and Important creative idea.
The combination of both as technological value added entrepreneurs brought about what Peter Drucker referred to as the technopreneur.
Where a business gets its technological knowledge is vital to its growth and development, either external or internal and other factors such as the cost of the technology, it's acquisition and the prospect of collaborating and transfer of technological knowledge is necessary to affect the business positively or negatively.
b) Technological Development :
The speed and stage of every change of the development cycle of a business life is important for both advance research in a bid to quicken the developmental processes.
c) Impact Of Technology In The Environment:
If the technology being used by the business affects the human lives of the population that consumes, work for, or live around the business premises, then the effects of such should be curbed so that business can thrive
d) Technology Infrastructure
Infrastructure that would support communication, transportation, energy, training, HR, and the management should be effectively put in place to ensure business thrive to maximize production and profit.
Development involves finding new products and ideas through establishing, instigating, innovating these ideas from one stage to another to ultimately results in new outstanding technology that would create entrepreneurship opportunities like research, which is a systematic investigation of materials and sources in order to establish facts.
• Information Communication Technology
The proliferation of necessary and available information and the ability to store and disseminate it with the use of modern computer gadgets is this information age has created entrepreneurial opportunities in marketing, cloning, hardware and software processing.
• Biotechnology
The experimentation of biological process for use in industries and other purposes has created entrepreneurial opportunity in animal and crop breeding with advanced genetically modified production .
• Nanotechnology
Dealing with minute dimensions and manipulation of atoms and molecules has opened entrepreneurial opportunities in the area of seconds measurements, robot development, bacteria identification and laser tag use in medicine.
