Technology Entrepreneurship and Fourth Industrial Revolution Era

Abstract

Entrepreneurial factor is understood to be an issue under factors of production, which must be explained via remuneration through income for the entrepreneur along with the shortage of people with entrepreneurial capabilities. Technopreneurship is not a product but a process of synthesis in engineering the future of a person, an organization, a nation and the world that is digital, knowledge based society, strategic directions or decision-making processes will be demanding and complex. Technopreneurs are entrepreneurs who are into the core businesses involving technology-based industries. They make use of technology to come out with new or innovative products through a process of commercialization. The unprecedented revolution of information communication technology or the global digitalization has advanced the actual meaning and state of technology entrepreneurship across the world through the emergence of the fourth industrial era. The objectives of this study are to identify and examine technologies driving the fourth industrial revolution era and to identify and examine technology enterprises pivoting the fourth industrial revolution era. The significance of the study provides opportunities for researchers, entrepreneurs/industrialists and policy makers to discuss concurrently the implications of this new concept on the global economy and the frontiers of sustainable development of the human race. Exploratory research approach was adopted for the study. This study therefore, recommends that the promoters of technologies and technology enterprises driving and pivoting the fourth industrial revolution era to assist the developing countries by leap frogging into the fourth industrial revolution era to avoid large scale global differential catastrophe of system collapse and high level technology and development dichotomy through technology complementarity approach.