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TECHNOPRENEURSHIP & CYBER-LAW Lecture Notes. 1. Technology Innovation Entrepreneur Technopreneur.

COURSE MODULES Introduction (Entrepreneurship) Technopreneurship E-commerce Cyber-Security & Cyber Law LEARNING OUTCOMES A student who successfully completes this course should be able to: Develop critical thinking on innovation, commercialization and E-commerce Develop a good marketing strategy and business plan for a technology-based venture Explain the various types of e-commerce implementations Understand issues associated with cybercrimes and the associated laws governing them.

COURSE TIMELINES. 3. DESCRIPTION GRADE TIMELINE REMARKS 2 PITCH 20 Submission/Presentation 3 ASSESSMENT 20 1 Hour Supervised Assessment 4 BUSINESS PITCH CASE-STUDY 60 Submission/Presentation (Powerpoint/Podcast).

MODULE I INTRODUCTION (ENTREPRENEURSHIP). 4.

5. Week 1 Module I Lecture 1 History of Entrepreneurship Types of Entrepreneurship The Entrepreneurial Start-up Process Business Name Registration.

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Tourism Practices as a Means of Entrepreneurship Development.

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INCREMENTAL: Routine business, modest novelty new coffee shop, new business process outsourcing (BPO) IMITATIVE: Imitation of venture, same business model and template new regional branch, franchised operations (Mr Biggs, Shoprite, etc) RENT-SEEKING: Business that utilizes standards, regulations and laws to share in value of enterprise Coca Cola Export INNOVATIVE: Business based on innovation new memory chip.

Entrepreneur – definition and examples – Market Business News.

Venture: a new business undertaking that involves risk The difference between small businesses and entrepreneurial ventures is that owners start small businesses to create jobs for themselves; while founders of entrepreneurial ventures have a desire to innovate, grow, and create new value.

12. Plan and manage effectively Recognize opportunity Test the opportunity in the marketplace Assemble an expert team to execute the business concept.

Professional Shiksha: John Kao's Model on Entrepreneurship.

14. COUNTRY PARKS Ivory Coast Technopark Africa Madagascar Technopole du Toamasina Nigeria Roar Park, UNN Senegal Technopole de Dakar Dakar Technopolis (DTP) Rwanda Kigali ICT Park (KICT) South Africa Technopark Stellenbosch Highveld Techno Park (HTP) Coega Technology Park (CTP), Port Elizabeth Softline Technology Park (STP) Innovation Hub Science Park (IHSP), Pretoria Zimbabwe National University of Science and Technology Technopark (NUST).

The top 3 resources that can help you with your startup business.

16. THE NEW VENTURE ORGANIZATION Infrastructure or foundation that supports all the products, processes, and services of a new business.

17. HOW TO REGISTER A BUSINESS NAME AND AN ENTERPRISE IN NIGERIA.

18. Week 2 Module I Lecture 2 Business Plan Financing New Ideas Marketing and Product Strategy.

19. “Starting companies are like having babies - fun to conceive but hell to deliver.” - Anonymous.

Minimum Viable Business Model — Space Machine. 20.

INTRODUCTORY PAGE Name and address of business Name(s) and address(es) of principal(s) Nature of business Statement of financing needed Statement of confidentially of report EXECUTIVE SUMMARY Three to four pages summarizing the complete business plan What is the business concept or model? How is this business concept or model unique? Who are the individuals starting this business? How will they make money and how much?.

ORGANIZATIONAL PLAN Form of ownership Identification of partners or principal shareholders Authority of principals Management-team background Roles and responsibilities of members of organization ASSESSMENT OF RISK Evaluate weakness of business New technologies Contingency Plans.

7 Ways to Help Ensure Your Business Succeeds. FINANCIAL PLAN Pro forma income statement Cash flow projections Pro forma balance sheet Break-even analysis Sources and applications of funds APPENDIX (contains backup material) Letters Market research data Leases or contracts Price lists from suppliers.

CONCEPT OF THE 3 Fs Friends Family Foes/Fools ASSESSING THE ANGELS Private Equity Venture Capital Angel Investors Public Offers.

The following equity financing alternatives will be considered: Venture Capital Initial Public Offering Angel Investment.

It is a private funding used to support risky new business and speculative ventures, usually with high growth potential A typical venture capital investment usually involves the business owner giving up equity to venture capitalist in return for funding Venture Capitalists are investment firms that make venture investments, providing capital for start-ups or expansion They are looking for higher rate of return, bringing their managerial abilities to small businesses with great potential growth.

Professional Venture Capital Firms raise money from: Insurance Companies Educational Endowments Pension Funds Wealthy Individuals These organizations have an investment portfolio which they allocate to various asset classes such as: Stocks (equities) Bonds Real estate etc..

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29. NEW CAPITAL Almost all companies go public primarily because they need money to expand the business FUTURE CAPITAL Once public, firms have greater and easier access to capital in the future MERGERS AND ACQUISITIONS It’s easier for other companies to notice and evaluate a public firm for potential synergies IPOs are often used to finance acquisitions.

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Invest money in seed, startup and early stage companies Invest time in entrepreneurs and their companies Business acumen Mentoring and coaching Serve on boards Make business introductions.

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In all kinds of businesses, marketing must satisfy “the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering, and finally consuming it” Especially in high-tech venturing, marketing must “invent complete products and drive them to commanding positions in defensible market segments” Marketing must be more than a sales support function.

Marketing Strategy vs. Marketing Plan - Insivia Marketing.

Entrepreneurial Marketing must start with identifying problems and creating solutions Marketing is based on “needs” and “wants” Products and services are typically “sized-up” by consumers as they consider whether or not their needs and wants might be satisfied, and how well Customers expect a level of product and performance that is consistent with explicit and implicit propositions conveyed through product claims For instance, what do you expect from any copy machine?.

A Short Checklist for Effective Entrepreneurial Marketing … Relationships Matter! How will you get close to customers? How will you leverage alliances and partnerships? How will you influence the infrastructure or the industry’s key “players”? What is your international strategy (global markets)?.

WHAT IS THE SINGLE MOST IMPORTANT CONCEPT IN A MARKETING STRATEGY? Positioning (a.k.a. the “Elevator Pitch”) (Al Ries and Jack Trout: Positioning: The Battle for Your Mind) Brands must cut through the mental clutter to attain a unique “position” in the mind of the consumer: “Positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position the product in the mind of the prospect” https://adage.com/article/al-ries/a-words-jack-trout-positioning/309341 www.frta.nl›category›18-unit-14-brand-development-and-promotion.

Sentence #1 For (target customer) who (statement of the need or opportunity), the (product/service name) is a (product/service category) that (statement of benefit) Sentence #2 Unlike (primary competitive alternative), our product (statement of primary differentiation).

39. MODULE II TECHNOPRENEURSHIP.

40. Week 3 Module II Lecture 1 Introduction Innovation Opportunity Sustaining vs. Disruptive Technologies The Process of Technology Commercialization.

Technopreneurship relates to the merging of knowledge in “innovative” technology with entrepreneurship skill for the manufacture of hi-tech products or making use of such technologies to deliver products/services to consumers Applicable to such high growth areas like: information technology hardware and software for mobile based technology e-commerce e-government biotechnology environmentally friendly green technology multi-media based technology health and leisure-based technology pharmaceuticals application of nanotechnology, etc..

42. ! Resources Environment TECHNO VENTURES Lax Policies Finarcial Resources.

Technopreneurs refers to entrepreneurial persons who are technology savvy and earn a fortune using their expertise in the respective technologies Famous names like Mark Zuckerberg, Jack Ma, Michael Dell, Bill Gates, Ron Zhangfei and others are examples of successful technopreneurs in the information technology based industries A key driver of technopreneurship is INNOVATION The secret to innovation is uncovering an unmet consumer need and the filling it in an innovative, creative way.

Product: (What we make) early stage of product life cycle, innovations are frequent As rate of product innovation decreases, process innovation increases Process: (How we make it) makes manufacturing more efficient through automation, lowering costs NOTE: Product/Service innovation creates much more new wealth than process innovation!.

IMPORTANCE OF INNOVATION Increases opportunity market separation Good for the economy as a whole (as companies trade on a global basis) Usually leads to cost reductions – better margins Should give consumers greater satisfaction and wider choice Reduces dependency on old products/services and technological processes.

Dimensions of External Innovation The firm’s product line falling behind competitors A new competitor enters the market, which will change the dynamics of the industry. The firm discovers its processes are not as efficient and/or effective as those of its competitors The firm believes its current products or processes are not going to be successful in the future Expansion into new markets and/or new products is achieved faster.

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48. Commercialisation Purpose Promotion Process Pipeline.

Successful Innovation Needs PURPOSE Must give the creator either a “build” and/or “deliver” opportunity Should generate revenues within a reasonable period Investment (through Proof of Concept) must be within budget Revenues/margin projections and the R&D plans for the initial period should be well documented Need to take account (amortise) of the process costs of Innovation over the life of the product Understand the customer segmentation of the target markets from the outset.

Stage 0: First Pass Does it fit with main Purpose? Can we find suitable technology partners? Do we understand this market segment? Who will fund this? Stage 1: Investigation Build high-level business plan Discuss with technology and financial partners Agree MOU between partners.