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Module in
Technopreneurship
This course covers the principles and theories of technopreneurship. It introduces
the process, challenges, risks and rewards of starting a new business and its impact to
innovation and economic development. It aims to equip students with analytical
frameworks and tools by which they will able to generate venture ideas and learn the
process to launch a startup company. Specifically, it covers business planning, business
model generation, product design, and financial, legal, and marketing aspects of starting
a new business. This is mentor-guided course which enables the students to pitch their
startup ideas and present their feasible IT business plan to external audiences. This is a
3-unit course for third year students that will be taken for 18 weeks or 54 hours.

There are seven (7) units with accompanying lessons in every unit to be discussed in
this course as listed below:

UNIT I: INTRODUCTION TO TECHNOPRENEURSHIP

Lesson 1. What is Technopreneurship?

Lesson 2. Five Traits of a Technopreneur
Lesson 3. Technopreneurship vs. Entrepreneurship
Lesson 4. Entrepreneurial Process and Technopreneurial Process
Lesson 5. The Technopreneurial Process

UNIT II: INNOVATION AND IDEA GENERATION

Lesson 1. What is Innovation?
Lesson 2. Types of Innovation
Lesson 3. The Principles of Innovation
Lesson 4. Idea Selection
Lesson 5. Customer Needs
Lesson 6. Market Research and Validation Lesson 7.
The Decision Making Process

UNIT III: BUSINESS MODELS

Lesson 1. Business Model Canvas
Lesson 2. Five Types of Channel Phases
Lesson 3. Types of Key Resources
Lesson 4. Types of Partnership
Lesson 5. Example of Business Model canvas

UNIT IV: INTELLECTUAL PROPERTY RIGHTS

Lesson 1. Define Intellectual Property
Lesson 2. Types of Intellectual Property

UNIT V: FINANCIAL PLAN AND RESOURCE GENERATION

Lesson 1. Financial Plan Definition
Lesson 2. Objectives of Financial Planning
Lesson 3. Importance of Financial Planning Lesson 4.
Types of Investors
 UNIT VI: Develop IT Business Plan and Clean Startup Canvas
Lesson 1. Business Plan
Lesson 2. Importance of Business Plan
Lesson 3. Benefits of Business Plan
Lesson 4. Business Plan Outline
Lesson 5. Lean Startup Canvass

UNIT VII: Elevator Pitch

Lesson 1. What is an Elevator Pitch?
Lesson 2. The 5-Steps Elevator Pitch that Turns Strangers
into Clients
Lesson 3. The Three Essential Components in a Pitch
Lesson 4. Elevator pitch final tips

At the end of the semester, you are expected to:

• Appreciate the value of new business and technology startup to

innovation and economic development
• Create and assess startup business ideas
• Develop a business plan, business model and strategies
• Develop the ability to form and successfully work with team
• Improve capabilities in pitching or presenting startup ideas to external
audiences (panel of investors/judges).

Unit I: INTRODUCTION TO
TECHNOPRENEURSHIP

Activate Prior Knowledge

When you hear the word Technopreneurship, what comes to your mind?

Learning Outcomes:

At the end of the lesson, students must have:

1. Defined and explained the concept of technopreneurship.

2. Described the difference between technopreneurship and
entrepreneurship.
3. Understood the traits of being a technopreneur.
4. Explained the entrepreneurial and technopreneurial processes.
Acquire New Knowledge

Introduction:

In the world of globalization, technology is created a huge impact and influence in the
society where people has become dependent. It is certainty that through technology
people are interested in developing simple products for innovation. There are several
innovations and inventions that made the world of technology and entrepreneurship
more exciting and interesting because of its collaborative outcome to establish a
competitive advantage in the business industry to become economically stable within a
local and global perspective.

TECHNOLOGY AND ENTREPRENEURSHIP

Technology is a body of knowledge devoted in creating tools, processing
actions and the extracting of materials. It is an application of science used to solve
problems. On the other hand, Entrepreneurship is the practice of embarking on a new
business venture of existing businesses by combining different resources in order to
develop new opportunities. It is the ability and willingness to develop, organize and
manage a business venture along with any of its risks in order to make a profit.
Technology and entrepreneurship plays a vital role in making the business gain
competitive advantage, improve the economic growth of the country and accelerates
innovation.

DEFINITION OF TECHNOPRENEURSHIP
Technopreneurship is simply the merging of technology and entrepreneur
skills. Technopreneurship is a new breed of entrepreneurship that involves the
collaboration of people who are intelligent, determined, creative, technology savvy and
passionate in dealing with risk and functions as a team.
 Technology + Entrepreneurship = Technopreneurship

ENTREPRENEUR AND TECHNOPRENEUR

An entrepreneur is a person that possesses various skills in terms of marketing,
communication and strategically has the potential demand for the goods and services
whether as a role proprietor with partners and within a corporation.

According to Rajesh Shakya “A technopreneur is an entrepreneur who is technology

savvy, creative, innovative, dynamic, dares to be different and take the unexplored path,
and very passionate about their work. They take challenges and strive to lead their life
with greater success. They don’t fear to fail. They take failure as a learning experience,
a stimulator to look things differently and stride for next challenge. Technopreneurs
continuously go through an organic process of continual improvement and always try to
redefine the dynamic digital economy”.

FIVE TRAITS OF A TECHNOPRENEUR

1. Strong Communication Skills the Close Deals. Technopreneur should
possess a strong communication skills that close deals as they will diverse people
to their business ideas and products. Communication pays an important role in
determining success by convincing sponsors, different organization and
prospective clients to help a technopreneur to pursue his idea and product.

2. Product Management Knowledge. It is significant that a technopreneur have

a deep understanding of his idea or product in order to present it to the target
customers in a detailed and precise manner. It is a big deal that he knows the
overall product so that it will be easier to explain and encourage the clients or
sponsors.

3. Deep Technical Understanding. As a technopreneur, it is important to be

tech-oriented as you will deal with the technical aspects of your idea or product.
A technopreneur should know how to be technology savvy to be able to compare
with others, be competitive and understand the dynamics of your market.

4. Take Big Risks. Dealing with competition will basically improve the way
technopreneurs think outside of their box. They have to take risks as not all idea
or product are meant to be successful in the business world.

5. Persistence. Not all entrepreneur can be a technopreneur but all

technopreneurs are entrepreneurs that is why they have to acquire persistence
to achieve their goals. Staying positive in all aspects of life is possible even if
there will be challenges and odds along the way, hard road is next to success.

Differences between Entrepreneur and Technopreneur

There are similarities and differences between entrepreneur and technopreneur. Their
similarities are:
1. Identify needs,
2. Build products,
3. Mitigate risks, and
4. Take the products to market.

But, let us take a look at the differences between entrepreneur and a technopreneur.

Entrepreneur Technopreneur
•Likes to compete •Likes to innovate
•Is a self-starter •Is part of a team
 •Is able to do many •Is able to do many
things at once things at once, but
chooses to delegate
•Is creative, and has •Is innovative and has a
dreams and goals greater vision
•Likes to work for him •Likes to be the one to
or herself and be in control innovation and
control be part of an evolution
•Is motivated by a •Is motivated by a
strong desire to strong vision and his
achieve passion to innovate
and attain financial
success
•Focuses his/her •Takes failure in stride
attention on the and knows it will lead
chances of success to success if corrected
rather than the it will lead to success
possibility of failure

THE ENTREPRENEURIAL PROCESS

In a business, an entrepreneur has to follow several steps to be successful in his
business plan and ensure that these phases will be applied according to its process.
 Opportunity Opportunities
Business Planning
Gathering Resources

Implementation
Scaling and Harvesting

Opportunity Analysis
This phase refers to establishing demand and competitive analysis of the market.
An entrepreneur should have a clear vision by making a thorough study of the market
potentials to create strategies and desirable objectives for the growth of an organization.
Business Planning
The entrepreneur should have a written business plan that composed of the
organization’ s future goals, how to achieve those goals and the time-frame within which
these goals are to be achieved. Business planning usually includes marketing strategy,
financial and operating viewpoint.
Gathering Resources
Entrepreneurial resources include sources of financing such as lines of credit and
investment capital, technology, networks of contacts and publicity. A business ought to
have four types of resources that includes physical resources, intellectual, human and
financial resources.
Implementation
Implementation is a process of execution about what has been planned and
utilizing the numerous resources for the success of the business.
Scaling and Harvesting
Scaling is a process where the organization will encounter challenges. The
organization will experience painful point for rapid growth for stability and continuity of
the business operations. On the other hand, Harvesting is a process where the
organization will reap what they sow in dealing with the challenges they had
encountered throughout the process of the business.

THE TECHNOPRENEURIAL PROCESS

Idea Generation. This is the process of creating, developing and communicating

abstract, concrete or visual ideas. It includes goals, strategies concepts, design, style,
plans and actions to come up with possible solutions for actual problems and
opportunities.
Idea Screening. Idea screening is a process that evaluates and contrast new
prospective ideas for your business. It is where assessment will be instigated to make
sure that your ideas is related to the business. The idea screening criteria are used to
determine compatibility and whether the idea will earn profit or could return on
investment.
Concept Testing. Concept testing is the process of testing new or hypothetical
products or services before they are launched (Management Study Guide). It is probably
the possibility of generating the best product.
Business Analysis. Business analysis is a process of identifying what the business
need and determining solutions to business problems that will improved the process,
management and financial status quo to deliver value to the stakeholders.
Prototyping. Prototyping is the overall design of the product where it shows its
functionalities, specifications and interface that is based on the business analysis.
Monitoring and Evaluation. Every business should be monitored and evaluated according
to the performance in the market. Monitoring and evaluation is important for the
business to diagnose problems and improve what is needed to stay in the competition.
Thru evaluation the organization will identify the performance rating of the business.
Test Marketing. Test marketing is a process of experimenting and assessing your
product to check its viability to customers compromising of actual stores and real-life
buying situations. It is to test the consumer reaction towards the new product or service
in the market.
Commercialization. Commercialization is a process of introducing new products and
services to the market. With commercialization, an organization entails production,
distribution, marketing, sales, customer support to achieve the commercial success of
new product and service. The use of advertisement, social media campaign, video
production is part of commercialization so that the vision and value of the product or
service will be reached out to the society.
Monitoring and Evaluation. Every business should be monitored and evaluated
according to the performance in the market. Monitoring and evaluation is important for
the business to diagnose problems and improve what is needed to stay in the
competition. Thru evaluation the organization will identify in the performance rating of
the business.

Technology is a body of knowledge devoted in creating tools, processing

actions and the extracting of materials. It is an application of science used to solve
problems. Entrepreneurship is the practice of embarking on a new business venture
of existing businesses by combining different resources in order to develop new
opportunities. In other words, entrepreneurship helps to increase jobs and offer better
alternatives making the economy dynamic and strong.
Technology + Entrepreneurship = Technopreneurship. Even in a simple
we can define technopreneurship as we encounter in our daily lives. It can be differ in
some aspects but they have also similarities. They differ in many aspects but the main
purpose is to ensure the success of the business. As a technopreneur, one have to make
sure that he acquire characteristics in order to be successful. He should have strong
communication skills, product management knowledge, deep technical understanding,
take risks and become persistent. It was said that not all entrepreneur can be
technopreneur but all technopreneurs are entrepreneurs.

In a business, either entrepreneur or technoprenuer should follow several steps

in gaining success in business.