8.0 THE ROLE OF SCIENCE AND TECHNOLOGY IN ENTREPRENEURSHIP
8.1 Introduction
For more than 175 years, Rensselaer has exhibited a unique strength in its ability to translate scientific discoveries into practical application, a process that we refer to as technological entrepreneurship. Historically and consistently, faculty, students, and alumni have successfully developed technologies, created innovations, and formed business ventures to bring ideas into practice to create value.
Today, the Incubator program, Rensselaer Technology Park (RTP) is looking ahead; rapid technological change and an emerging global marketplace present outstanding continuing opportunities for scientific and technological entrepreneurship.
Today, the Incubator program, Rensselaer Technology Park (RTP) is looking ahead; rapid technological change and an emerging global marketplace present outstanding continuing opportunities for scientific and technological entrepreneurship.
Technology is driving the world’s economy and shaping society. Old disciplines are evolving new applications in business and industry. New technologies are spawning (initiating) research into new territories.
The major goal is making scientific and technological entrepreneurship across education, research, technology commercialization, new venture creation, and regional economic development.
8.2 The role of technology in entrepreneurship
Successful entrepreneurs are those who have a clear concept of what they are trying to accomplish—leverage technology in order to help them achieve their goals more quickly. In order to ascertain which technology will align with their goals, entrepreneurs must have a very open and curious bias towards technology. Therefore technology is like a search engine for finding, planning, implementing, managing, monitoring and evaluating any entrepreneurial activity. Most successful entrepreneurs are those who use technologies in searching new emerging profitable businesses, reliable market, modern preserving methods of their commodities, use quick or faster transports and the like in facilitating their entrepreneurial activities.
8.3 Importance of science and technology to entrepreneurs and entrepreneurship
8.3.1 Mobile technology (communication technology)
Mobile phones offer extensive help on various forms of social and economic development of entrepreneurs. Wireless communications broaden access to:
· Obtain business important information to entrepreneurs
· Improve capital access to entrepreneurs
· Overcome geographic limitations to entrepreneurs
· Expand market accessibility. etc………..
8.3.2 Transport technology (reliable and faster land, water and air transport)
· Transfer entrepreneurs and their commodities or services very easily and faster
· Help in encompass large market area
· Improve capital access to entrepreneurs
· Helps in reaching even remote sensing areas etc……….
8.3.3 Computer technology (information and dissemination technology)
· Help in getting relevant information reflecting to entrepreneur’s activities
· Helping in getting knowledge on better conducting the business
· Helping in copy, modify and paste good samples on his/her activities-based
· Helping in publication and broadcasting and disseminating a business etc…..
8.3.4 Industrial technology (production technology)
· Helping easy and good processing the business
· Helping the formation of safe, good, quick and decorated packaging
· Helping in preserving the commodity to be used for long time
· Improve sustainability and sanitation
· Helping in recycling processes of wastes from entrepreneurial activities
· Helping in making varied products from one type of commodity
· Improve creativity and innovating processes
· Facilitating and fastening agricultural activities etc………….
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