Abstract:
With the emergence of knowledge-driven economy, entrepreneurial
process turned out to be technology driven (Malerba, 2010). Drastic
reduction in lifecycle of technologies, turbulence, and uncertainty
forced entrepreneur to develop newer strategies. The requirement
to stay competitive and survive the rapid technological changes
led to the emergence of competition to develop or acquire newer
technologies. Thus, the traditional entrepreneurship theory driven
by market evolved to a newer knowledge-driven and technology
intensive theory of entrepreneurship.
Technology entrepreneurship needs to be critically defined and
distinguished from mainstream entrepreneurship. It involves rigorous
experimentation, catering to the nascent markets through novel products.
The development of such technology-based innovations is largely affected
by the support system around them which includes institutional setups.
