Abstract
Entrepreneurship is acknowledged to be a significant driver of national wealth. In this paper, we present a framework for developing technological entrepreneurship particularly for developing countries, with supporting policy directions. Our thesis is that technological entrepreneurship - which exploits existing scientific and technological knowledge to meet market needs – is what brings about the national productivity and competitiveness that entrepreneurship is said to provide. Our framework stresses the fact that the innovation process is facilitated by technological entrepreneurship which is in turn pre-conditioned within the context of favourable policies, institutions, financial and institutional support.
Highlights
Discussions relating to industrial development have made prominent the concept of entrepreneurship in recent times
We present a framework for developing technological entrepreneurship for developing countries, with supporting policy directions
Our framework stresses the fact that the innovation process is facilitated by technological entrepreneurship which is in turn pre-conditioned within the context of favorable policies, institutions, financial and institutional support
Summary
Discussions relating to industrial development have made prominent the concept of entrepreneurship in recent times. We have authors who have discussed the subject of technological entrepreneurship [1,2,3,4]. In this body of literature, emphasis seemed to be placed on high-potential technology opportunities, technical systems, innovation, production and commercialization. Within this context, very little technological entrepreneurship can be said to exist in Nigeria, and in many developing economies. This paper seeks to provide a framework for developing technological entrepreneurship, with supporting policy directions. The discussion focuses firstly on conceptualizing technological entrepreneurship, encapsulateing its role in social and economic development, providing data on the current status in Nigeria before concludeing with a discussion on the framework and policy directions
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