The word technology comes from two Greek words, transliterated techne and logos. Brian Arthur (2009), in a recent thoughtful analysis, tries to explore the essence of technology, and comes up with a succinct definition as a means to fulfill a human goal.” Arthur’s view lines up reasonably effectively with the AECT definition, especially when he expands his definition into an assemblage of practices and components” and then adds that technologies is the entire collection of practices and devices offered to a culture” (p. 28).
The definitions discovered in the literature recommend that technologies entrepreneurship is about: i) operating modest organizations owned by engineers or scientists ii) finding troubles or applications for a certain technology iii) launching new ventures, introducing new applications, or exploiting opportunities that rely on scientific and technical understanding and iv) functioning with other people to produce technology modify.
Technologies entrepreneurship is ideal understood therefore, as a joint-production phenomenon that draws from a group of specialized folks from a number of domains, some or all of whom grow to be embedded in the technologies path they try to shape in true time ( Garud and Karnøe, 2003 ). Technology entrepreneurship is not about a single person or the inventions they introduce.
In physics , the discovery of nuclear fission has led to both nuclear weapons and nuclear power Computers have been also invented and later miniaturized utilizing transistors and integrated circuits information technologies subsequently led to the creation of the Net , which ushered in the existing Information Age Humans have also been capable to explore space with satellites (later used for telecommunication ) and in manned missions going all the way to the moon.
Additionally, a new definition should explicitly link technology entrepreneurship to the theory of the firm, entrepreneurship theory, and management theory. For example, Sony Corporation pioneered the technologies of miniaturization to create a complete new class of portable consumer electronics (such as radios, cassette tape recorders, and CD players).