Entrepreneurs of technology-based firms usually have a science or engineering background, and are generally believed to consider the technology paramount in business success.
The majority of technology-based entrepreneurs have science or engineering strengths and the enterprises they start (knowledge-based or technology-based firms); develop products and services arising from advanced technological research.
A technology-based entrepreneur is ‘the founder and current owner-manager of a technology-based business, i.e. primarily responsible for its planning and establishment, and currently having some management control within the organization.
Importance of the Technical Entrepreneurs:
The involvement of the entrepreneur in the early life of a leading-edge technology firm has a significant contribution to the firm’s growth and development.
The technical entrepreneur knows most about the commercialized technology and, therefore, is capable of providing valuable insights into the business strategies and business decisions, based on a thorough understanding of the technology. A management which excludes the technical entrepreneur runs the risk of mis-positioning the product as well as being unable to foresee trends in the technology.