THE DYNAMICS OF TECHNOLOGICAL ENTREPRENEURSHP: FOSTERING ENTREPRENEURIAL VENTURES IN NIGERIA

Abstract

This study examines the dynamics of technological entrepreneurship towards fostering entrepreneurial ventures in Nigeria. It is regarded as the driving vehicle that facilitates prosperity in individual firms, regions and nations and serves as an important function that satisfies intellectual curiosity. The study defined technological entrepreneurship as an investment in a project that assembles and deploys specialized individuals that are necessary for job creation and economic development. In the study, we noted that technological entrepreneurs as national assets to be cultivated, remunerated to the greatest extent since they have the ability to change the way we live and work and that their innovations lead to improve the standard of living, create jobs and contribute to the growing of the economy. Entrepreneurship is considered crucial to the dynamic economy because entrepreneurs create employment opportunities not only for themselves but for others and influences country’s economic performance by introducing new products, methods and production processes for the market, boosting productivity and competition. They therefore are driven by the need for achievement and the desire to implement various projects. This study has several limitations that revealed possible avenues for further research. The focus in the study was limited to a few concepts which we found to be important for technological entrepreneurship. We concluded the need to further this study in order to obtain long-term effects of the technological entrepreneurship towards entrepreneurial venturing, job creation and economic development.