Technopreneurship in the Material World: A Fulcrum for Industrial Development in an Emerging Economy

Abstract

Every nation where people deliberately mainstream innovation or make continuous changes in their products and processes, there is always a competitive edge in their economy. Technopreneurship is the merging of knowledge in technology with entrepreneurship skills. This is basically the engine for economic development. It requires not only technical knowledge but also a thorough understanding of creativity, the innovation process, marketing, finance, and strategic thinking. It is noteworthy that, prosperous nations have a strong and vibrant entrepreneurial base of adventurous youth who are adaptive and inventive. In most developed and emerging economies of the world, where technological innovation has given a boost in the economy of such break-through nations, internship and incubation programmes and start-up trainings even inschools are aimed at raising technoprenuers. These are science and engineering student /researchers that are nurtured in entrepreneurial skills.The civil populace of such nations is ready to do things differently and take new risky break through. Based on these, entrepreneurship forms the sub structure upon which science, technology and the creative industries of these societies are built. This paper has brought to the fore the critical need for the least developed nations to realize and urgently begin to promote and appropriate technopreneurship as a way of life among its citizenry. Most importantly, it asserts that Technopreneurship must be the fulcrum of nations’ aspirations in the world of science, technology and production; only then can technological innovations be commercializable and lead to economic development. While the strength and growth of any economy is facilitated by the civil entrepreneurial culture and the versatility of its technical know-how, this paper is focused on the relevance of adopting technopreneurship as the way of societal development, thus establishing the inter-relationship between the scientist, engineers and the business sector in mainstreaming innovation.