Factors Affecting Technological Entrepreneurship

Introduction

Entrepreneurship can simply be defined as the art and process that includes undertaking the innovations or introducing several new and untested things, business and finance acumen for the sake of transforming these innovations or creations into economic goods. The fundamental aims to be achieved by these procedures is the creation of a new organizations or rejuvenating any part of any organizations for the sake of achieving further improvement and betterment of the overall business or company. The process of Entrepreneurship can be classified into a number of categories. These may include social, economical or other forms of entrepreneurship. However, it is important to note that one of relatively recent discovered and introduced type of entrepreneurship is the Technological Entrepreneurship.

Discussion

The term Technological Entrepreneurship can be defied an agency or organization, which is spread and distributed amongst various kinds of actors, where each of these actors becomes involved with the technology. Hence, in the process, these actors also put forth such inputs, which ultimately results in transforming the path of any emerging technological discovery or innovation. There are a number of factors that have a strong influence on the Technological Entrepreneurship (Shane & Karl, pp. 138). These include,

Scope of the Technology This is perhaps the most important aspect regarding the direction towards which the Technological Entrepreneurship is headed. Technology is an ever changing and developing area. Many inventions are introduced which then be regarded as obsolete in the followed years. Hence, it will be fair to say that investment in technology is risky nevertheless. However, the basic aim of technology is to perform the most lengthy and tiring business functions with minimum efforts and maximum efficiency. Hence, the ability to achieve these of any technological entrepreneurship venture will define the scope and usefulness of that venture.

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