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• Technological Entrepreneurship

The term "technopreneur" arose from within Singaporean culture to describe an individual whose entrepreneurial endeavours focus on a technology-centered enterprise. The government of. Singapore has embraced technopreneurship and has launched several initiatives to promote technopreneurship as a means of economic development. In the past three years. For example, the government now sponsors university courses on technopreneurship and helps connect venture capital companies with budding technopreneurs. This greater openness has encouraged many new start­ ups to form, and the country is we" on its way to fully integrating itself into the New Economy. Singapore's success with technopreneurship policies has influenced other Asian countries to begin such initiatives.

For example, Malaysia recently launched its Multimedia- Super Corridor to encourage domestic technology development, and Hong Kong recently completed the construction of . its CyberPort, a technopreneurship-friendly business district. Finally, technopreneurship encouragement has also taken place in certain cities in India.

To utilize the educated youth, who have been trained in engineering and computer programming, international IT companies began locating in India, particularly in Bangalore. The result is that Bangalore has become a powerhouse for software production: Although Indian technopreneurs were not originally at the center. of Bangalore's technology development, they are now beginning to pop up throughout southern India, largely due to the government's help in creating "the right climate to encourage this sunrise industry" (soota, 1998).

Several countries today are building techno-parks where the youths are encouraged to get Involved in IT-related activities or. in some cases other forms of hi-tech activities .

These parks are solely devoted to the development of technopreneurs .

• Social Entrepreneurship:·

The idea of "social entrepreneurship" has struck a responsive chord. It is a phrase well suite to our times. It combines the passion of a social mission with an image of business-like discipline, innovation, and determination commonly associated with, for instance, the high-tech pioneers of Sllicon Valley. The time is certainly ripe for entrepreneurial approaches to social problems. Many governmental and philanthropic efforts have fallen far short of our expectations, Major social sector institutions are often viewed as inefficient, ineffective, and unresponsive. Social entrepreneurs are needed to develop new models for a new century.

In addition to innovative not-for-profit venture, social entrepreneurship can include social purpose business ventures, such s for-profit community development banks, and hybrid organizations mixing not-for-pr fit and for-profit elements, such as homeless shelters that start businesses to train a. employ their residents. The new language helps to broaden the playing field. Social entrepreneurs look for the most effective methods of serving their social missions.

• Identify the Different Types of Entrepreneurs: Self Employed, Opportunistic,

Inventors, Pattern Multipliers, etc.

Before starting a business, there is a need to identify the type of opportunities that are available and the type of entrepreneur you might choose to' be. Many types of entrepreneurs are needed to help the country to grow. Let's look at the possibilities.

1. Self-Employed: Individuals who perform all the work and keep all the profit. This includes everything from family-run stores, agents, repair persons, accountants, to physicians and lawyers. It can be a full-time job because no one else is involved or employed within the trade.
2. Opportunistic: Those who start a business and expand as fast as possible in order to be able to hire other employees. Usually, these additional employees have the necessary expertise that the 'owner does not have.
3. Inventors: Those with particular inventive abilities who design a better product and then create companies to develop, produce and sell the item. High­ technology companies of this type area new trend.
4. Pattern Those who look for an idea someone else has ~}ready had so that they can then create their own business
5. Multipliers:

1. Based on this model. Franchise operation or chain stores are a form of this approach.
2. Economy of Scale Those who benefit from a large volume of sales by offering discount prices and operating with very low overhead.

6. Acquirers: Those who take over a business started by somebody else and use their own ideas to make it successful. This often happens when there is a financial problem in the current operation. Fresh management ideas may save the business.
7. Buy-Sell Artists: Those who buy a company for the purpose of improving it so that they can sell it again for a profit.
8. Speculators:" Those who purchase a commodity and resell it for a profit. Real estate, art, antiques and crops are typical speculator items.
9. Internal: Those who create new ideas and turn them into -a successful project within an existing business. Although they have neither the profit nor the personal financial risk of their own business, they need to use the same methods of operation as an entrepreneur.
10. Franchisee: A franchisee is an individual who starts a business for which a widely known product image has already been established. The franchisee owns the business and assumes its operating responsibilities subject to specifications set out by the franchisor.
11. Necessity: Unemployed person who chooses to establish his/her own business in order to survive rather than die of hunger or continue to be dependent on parents, e.g. shoe shine boy

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