Lecture 1 Flashcards by Rohan Barsagade

What is Technology Entrepreneurship?

The general theories, principles, concepts, and practices of technology entrepreneurship.

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What is feasibility analysis in the context of technology entrepreneurship?

An assessment for B-plans to evaluate the viability of business ideas.

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What is intrapreneurship?

The practice of entrepreneurship within an existing organization.

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What is the minimum attendance required to write the end semester examination?

80% attendance.

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What percentage of the evaluation is based on class participation and assignments?

10%.

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Who delivered the lecture titled ‘There’s Plenty of Room at the Bottom’?

Physicist Richard Feynman.

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What is the primary problem discussed in Feynman’s 1959 lecture?

Manipulating and controlling things on a small scale.

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What is innovation according to Joseph Alois Schumpeter?

Creative destruction; the process of industrial mutation that incessantly revolutionizes the economic structure.

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What are the stages of the innovation process?

Invention → Innovation → Diffusion → Imitation.

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What is the main function of an entrepreneur?

To allocate existing resources to new uses and new combinations.

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What are the types of innovation?

Product, service, process, business model, and social innovation.

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What is the definition of entrepreneurship according to Scott Shane?

An activity that involves the process of discovery and exploitation of a new opportunity.

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What are the three magic ingredients for entrepreneurship?

Idea
Opportunity
Execution

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What is the significance of teamwork in entrepreneurship?

Highly dependent on teamwork and teammates; communication is critical.

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What is systematic innovation?

The purposeful and organized search for changes and analysis of opportunities for economic and social transformation.

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What is the role of technology in entrepreneurship?

An integral and key element in the transformation of goods and services.

What does it mean to have a tech-savvy mindset in entrepreneurship?

Being innovative, passionate, resilient, and willing to take calculated risks.

What are the contextual conditions that impact entrepreneurship?

Education
Culture
Social support systems
Technology
Human capital
Expertise

What are the three primary reasons people become entrepreneurs?

Desire to be their own boss
Financial rewards
Desire to pursue their own ideas

What are the four primary characteristics of successful entrepreneurs?

Intelligence
Alertness
Energy
Determination

What is meant by ‘value creation’ in entrepreneurship?

Novel combination and exchange of resources to create new uses or applications.

What are the different technology entrepreneurship areas?

FinTech
MedTech
EdTech
Semiconductor
Drone
Space
Automotive
Defense
AgriTech
FoodTech
Energy

What is the significance of experiential learning in entrepreneurship?

Learning from exposure, experience, and failures to develop business senses.

True or False: The society that permits maximum generation of trials is most likely to solve problems over time.

True.

What are some technologies expected to drive the global economy for the next decade?

AI, GenAI, AR-VR, Blockchain, Cryptocurrency, IoT, Autonomous Vehicles, 3D printing, Quantum computing ## Footnote These technologies are projected to contribute significantly to the global economy, potentially reaching $100 trillion.

What are the different areas of technology entrepreneurship mentioned?

FinTech, MedTech, EdTech, Semiconductor, Drone, Space, Automotive, Defense, AgriTech, FoodTech, Energy ## Footnote Each area represents a sector where technological advancements are leading to new business opportunities.

Fill in the blank: The TRIM framework stands for _______.

Team, Resources, Idea, Market ## Footnote This framework is used to analyze the foundational elements of a startup.

What is the purpose of opportunity discovery in a startup context?

To identify the problem it has solved ## Footnote Understanding the problem is crucial for developing a relevant product or service.

What should be described regarding the customer in a startup analysis?

Identify and describe its customer ## Footnote Knowing the target customer helps tailor the product or service effectively.

What does USP stand for in product description?

Unique Selling Proposition ## Footnote The USP highlights what makes a product stand out in the market.

What are some key challenges faced by startups?

Key challenges faced ## Footnote Identifying these challenges is essential for strategic planning.

What should be described regarding the business model in a startup?

Describe its business model ## Footnote A clear business model outlines how the company intends to make money.

What is meant by competitive strategy in a business context?

Competitive strategy followed ## Footnote This refers to the approach a company takes to gain an advantage over its competitors.

Define critical success factor.

Critical success factor ## Footnote These are essential elements that must be in place for a business to succeed.

What are key performance indicators (KPIs)?

Key performance Indicators ## Footnote KPIs are measurable values that demonstrate how effectively a company is achieving its key business objectives.

What should be analyzed regarding financial performance?

Analyze its financial performance over a period of time ## Footnote This analysis helps assess the sustainability and growth potential of the business.

Give examples of companies mentioned for Assignment 1.

Apple, Canva, Tesla, Pixxel, OpenAI, Notion, Zomato/Swiggy, Bharat Forge ## Footnote These companies are leaders in their respective industries, showcasing successful technology applications.

What is expected in Assignment 2 regarding new technology?

Choose a technology that you think can revolutionize the life of people ## Footnote This encourages students to think critically about emerging technologies and their societal impacts.

What is the significance of a startup roadmap?

Brief description of its start-up roadmap ## Footnote A roadmap outlines the strategic direction and milestones for the startup's development.