Entrepreneur and Technopreneur: Similarities and Differences (fully explained)

Entrepreneur and Technopreneur: Similarities and Differences (fully explained):- Differences between entrepreneurs and technopreneurs are a tough thing to discuss because both have similarities as well as differences. In this article, we are going to discuss,

Technology is one of the predominant aspects of the current industrial establishment. The application of technology has converted into a technology-based business and plays a critical role in entrepreneurship. We can’t exactly divide entrepreneurship and Technopreneurship into separate parts. Modern technology development requests every entrepreneur to be a technopreneur as well as every technopreneur to be an entrepreneur as well. 

Before discussing the differences let’s find out who is an entrepreneur and who is a technopreneur.

Who is Entrepreneur

An entrepreneur is someone with exceptional personality characteristics and capabilities who takes risks and invests resources to make something unique. It may be a novel product, a novel technological system, or a unique way of creating something that already exists or forming a new market.

In other terms, an entrepreneur is an individual who organizes, handles and carries the risks of a business. To be booming, he must have the essential personal qualities and applicable professional skills.

An entrepreneur is a notion of “entrepreneurship”. To become an entrepreneur there are some skills required. The ability to recognize opportunities, and problems in the environment and create a solution using those opportunities and problems is an important characteristic of an entrepreneur. Also, the ability to take risks, self-confidence, social network, flexibility and ability to handle difficult situations will decide entrepreneurs’ success.

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Who is Technopreneur

The meaning of the Technopreneurs has been presented by different professionals in different situations. It is a development of terms like Electronic Entrepreneur, Digital Entrepreneur, Online Entrepreneur, Cyber Entrepreneur and IT Entrepreneur.

Technopreneurship defines a new breed of entrepreneurship that applies to intelligent people and those curious about technology. Easily we can define that technopreneurs are thinkers like engineers and behave like entrepreneurs. A technopreneur is an entrepreneur who is technologically intelligent, creative, innovative, passionate, dares to be different and take the untried path, and is very passionate about their creation.

They accept challenges and aspire to lead their life with greater victory. They don’t fear falling. They take falling as an educational experience, a stimulator to look at something differently and step to the next challenge.

Technopreneurs beats the current economic order by introducing, new products and services, making new forms of organizations and manipulating new raw materials. It is a person who perceives an opportunity and builds an organization to pursue it. Technopreneurs always go through an organic process of continual advancement and always attempt to redefine the dynamic digital economy.

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Entrepreneur vs Technopreneur

An entrepreneur is the bigger picture of entrepreneurship. Technopreneur is a part of that picture. However, the impact of technology in the field of entrepreneurship is considerable and very massive. That’s why entrepreneur and technopreneur topics are much more critical to discuss today.

Let’s discuss the battle between entrepreneurs and technopreneurs through their similarities and differences.

Similarities Between Entrepreneurs and Technopreneurs

Technology and entrepreneurship cannot be divided today. They keep each other. Technology has made entrepreneurship activity more effortless and entrepreneurs can use the technology as wisely as possible to drive social welfare and prosperity. Current technology development proposes every entrepreneur be a technopreneur as well as every technopreneur be an entrepreneur as well. 

There are similarities and dissimilarities between entrepreneurs and technopreneurs. Their similarities are:

1. Both entrepreneurs and technopreneurs Recognize problems and give answers to them. This can be a new product, service or process.
2. Both entrepreneurs and technopreneurs are capable of determining risk and have the bravery to take risks but are not gamblers.
3. Both entrepreneurs and technopreneurs are independent and self-secure, yet understand when to get support.
4. Both entrepreneurs and technopreneurs enjoy challenges.
5. Both entrepreneurs and technopreneurs are hardworking and keen to stick with a task.
6. Both entrepreneurs and technopreneurs are not easily frustrated.
7. Both entrepreneurs and technopreneurs are in good health, have lots of power and can manage pressure.
8. Both entrepreneurs and technopreneurs have a strong understanding of self-value.
9. Both entrepreneurs and technopreneurs a positive philosophers who do not stay on setbacks.
10. Both entrepreneurs and technopreneurs have a near companion or relative who owns a business.

For your better understanding, we summarised those similarities in the following table.

Entrepreneur vs Technopreneur Similarity Comparison Table

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Key Differences Between Entrepreneurs and Technopreneurs

Entrepreneurs and technopreneurs are both doing the same job of solving social problems by utilising resources. However, technopreneurs are the ones who recognise the problems and capitalize on those problems to make technological-based products or services for the sake of innovation.

Both entrepreneurs and technopreneurs are important parts of society. They both contribute to the economy and they make wealth, jobs and opportunities. But while one offers bread to society, the other offers knowledge and intelligence to society to construct that bread. Put the entrepreneur and technopreneur together and the impact has a little variation and it is this impact that drives them to their goals and what we refer to as passion.

Entrepreneur = Product + Market = Profits

Technopreneur = Today + Future = Vision

It is the actuality of this vision for the technopreneur that has already made him wealthy, while the entrepreneur has yet to perform his business plan and strategy to recognise his profits. For the technopreneur, his profit is in knowing the future and he comprehends his worth even before his strategy is performed. He knows as long as he performs his part in order, by default profits will follow. The differences between an entrepreneur and a technopreneur are summarised. let’s see what they are:

1. Entrepreneur likes to contest but Technopreneur likes to innovate.
2. An entrepreneur is a self-starter but Technopreneur is an aspect of a team.
3. An entrepreneur is creative and has a dream and goals but Technopreneur is innovative and has a greater vision.
4. An entrepreneur can do multiple things at one time but Technopreneur can do multiple things at one time but chooses to empower.
5. Entrepreneur likes to work for themselves and be in control but Technopreneur likes to be the one to control innovation and be a portion of evolution.
6. An entrepreneur is inspired by a strong passion to achieve and attain financial success but Technopreneur is inspired by a strong vision and his desire to innovate.
7. Entrepreneur concentrates their awareness on the possibilities of success rather than the possibility of failure but Technopreneur takes failure in stride and understands it will direct them to success if correction can be completed.  

Entrepreneur vs Technopreneur Differences Comparison Table

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Conclusion

Technopreneurship is more than just coding. It’s also about forming solid teams, comprehending market demands, and carrying out precise execution. – Sheryl Sandberg

How technology is applied is what separates an entrepreneur from a technopreneur. Entrepreneurs concentrate on adding value to goods and services. Technopreneurs employ technology to develop original ideas. It’s critical to comprehend the industry, make the most of your strengths, and carry out suggestions precisely. in particular for promoting growth and innovation. The similarities and contrasts between technopreneurs and entrepreneurs are covered in this article. What do you think about this article, then? Put your thoughts in our comment box.

FAQs on Entrepreneur and Technopreneur

How Does Technology Entrepreneurship Differentiate from Other Entrepreneurship Types?

Whereas technological entrepreneurship leverages technology to spur innovation. Traditional entrepreneurship concentrates on goods or services. Coding and digital technologies are used by technology entrepreneurs. Especially to develop tech-driven products that have the potential to upend whole sectors. An entrepreneur in technology could, for example, develop an online platform that completely transforms retail shopping.

What Is the Difference Between Entrepreneurship and Technopreneurship?

Technopreneurship is a specialized form of entrepreneurship. It centred around technology. While all entrepreneurs are entrepreneurs, not all are technopreneurs. Technopreneurs launch tech-focused businesses like apps or software. Entrepreneurs open cafés or service-based businesses. The key difference lies in the role technology plays in the industry.

Is Google a Technopreneurship?

Yes. One of the best examples of technopreneurship is Google. It is well known for having a ground-breaking search algorithm. They completely changed how people could get information. The business’s ongoing innovation and development of tech-related goods and services. By demonstrating the potential of technology in business models, they reaffirm its leadership in the global tech space.

Why is Entrepreneurship and Technopreneurship Important?

Technopreneurship and entrepreneurship are important for innovation and economic success. Moreover, advancing societal growth, bringing in new concepts, and generating jobs. They present novel ideas and question established conventions. also provides chances for people to start their businesses. Lastly, leaves a lasting impression on the globe.