I wish to introduce the term ”InvenTreneur” which is defined as a person who invents or innovates and sells/commercialize his/her products (invention or innovation). In contrast, a “TechnoPreneur” is a person who commercializes technology whether he/she developed or just sells or re-sells the technology. Most of the inventors wanted to develop new technologies with the desire to commercialize these developed technologies. Nevertheless, there are also inventors who developed technologies with no desire (or do not have the idea or expertise) to commercialize their technologies.
Mr. Sangutan, a very successful inventor who is also the president of the National and Davao Inventors Association, is fond of quoting the adage “Necessity is the mother of all Invention!“. I believe all of us agree to the idea. If you are going to read the biography of the great inventors in the US and UK, they all started with a technology that they feel needed by their immediate surroundings and, eventually, the whole world.
The truth is that whether you are an inventor, innovator, or just a mediocre person, you always have to start developing your technology from “What is needed?” or what are the “pains” (the term is equivalent to “needs or demands” which was habitually used by my Professor when I still studied at the Australian National University, Australia) currently experienced by the people. The opportunity does not always come from your creative mind but from your immediate surroundings. What if you have the technology but nobody is willing to use or buy it? Are you willing to put it in the shelves?
Technology development is a process and it is long and a tricky one. In developing your technology, you must be aware of the “Value Chain“. It is value creation that will assure your technology to reach the targeted market and give you at least 50% assurance of surviving in the market arena.
How to design and develop products or technology? I will discuss about this in my next article here at the InvenTreneur (keep posted)
