Building the future with ‘technology’? Just like it’s happening today. Now, more than ever, it is evident that the impact of technology on our daily lives has grown exponentially over the years, especially after COVID. Be it laptops, tabs or mobiles, technology helps us stay connected with the universe around us and also acts as a window that opens up immense amount of knowledge & information, which can be accessed with ease. And, technology has become an increasingly important component of successful businesses across sectors.
On National Technology Day, celebrated on May 11 in India, we remember the achievements of researchers, engineers in technology & tech giants in our country. India has indeed witnessed explosive growth, thanks to the contribution of technological advancements. So, National Technology Day is the perfect occasion – to acknowledge the work put in by scientists, engineers & innovators as growth drivers. The day is also an opportunity to promote and encourage the pursuit of technological innovation.
The day was established in 1998 by former Prime Minister of India, Shri Atal Bihari Vajpayee. It was first celebrated in India to honour people working in the field of technology and to highlight their achievements.
Why is a day devoted to technology important? National Technology Day is a significant day for India as it commemorates India’s successful nuclear test at Pokhran; and it also celebrates the country’s technological achievements. The day serves as a reminder of the importance of technology & science in the development of a nation and the welfare of its people.
What is ‘technology’ entrepreneurship?
Technology entrepreneurship is a style of business leadership based on the process of identifying high-potential, technology-intensive business opportunities. An attractive business opportunity consists of – a great value proposition, technically feasible products, sustainable competitive advantage, a large potential market, strong intellectual property and a proven business model. It can be based on either a revolutionary breakthrough in technology or an evolved advancement; and it can target an existing market or create an entirely new one too.
For ‘technology’ entrepreneurs, technology is their entrepreneurial horizon and their area of focus centres around technology. Technology entrepreneurs are, first of all, entrepreneurs.
Technology entrepreneurs perform a variety of tasks that all those setting up a business do. They search for and assess business project ideas, seek funding, communicate a vision, define operations, manage & motivate staff, establish policies, set budgets and manage finances, sell the project and product (to key partners, financiers, future employees, potential customers etc), manage growth, assess results, manage risks and most importantly, think about the next step to take.
Ultimately, remember, if you are an entrepreneur, your reliance on the right technologies is crucial to succeed. Today we are well-versed in technology, which is all around us. And, it makes sense, to adapt technologies which are agile, scalable, fast and can also help improve the efficiency of your processes. For, when launching a startup, having the right tech tools in place can really help in setting you up for long-term success.