Role of Technopreneurship in The Achievement of Inclusive Growth in The Philippines

FIGUEROA, THOMAS BERNARD ANGELO M.
59028- REACTION PAPER
“Role of Technopreneurship in the Achievement of Inclusive

Growth in the Philippines”
The fusion of the domains of innovation and entrepreneurship, which are mutually reliant,
is known as technopreneurship. Innovation is the use of widely accessible resources to create new
or improved goods, services, or procedures. To be concise, Entrepreneurship, in my understanding
is the process through which investors and inventors work together to bring new items to the market
and make a profit. The Philippines' economy would be strengthened by encouraging
technopreneurship, which would also foster links between the government, academia, and industry,
lead to new investments, and provide more job possibilities.
Internationally, we can observe that countries have embraced information and

communication technology (ICT) as a way to improve public and commercial sector procedures
and give individuals better access to these services, claims Fang (2002). The influence of
technology in our everyday lives is significant. In order to achieve their inclusive growth for the
businesses, businesspeople have their own platforms through social media. The Philippine
economy has recently made incredible strides forward in terms of overall development. This goal
will be reached by economical and sustainable means. Our country's independence would be made
feasible with the aid of several things, such as technopreneurship.
Moreover, knowledge is acknowledged as a vital competency in amassing wealth in our

age of growing economic globalization, where developments in science and technology occur in
the blink of an eye (Lalkaka, 2002). The Philippine economy has achieved tremendous progress in
promoting equitable growth throughout the years. This goal will be achieved through economic
and sustainable means. The goal of our nation will be made possible with the aid of several
variables, such as technological entrepreneurship. Technology and entrepreneurship are combined
to form technopreneurship. It plays a significant influence in a nation's economic development and
is influential in the use of technology for a variety of tasks that could be advantageous for society.
The commercialization of inventions is entrepreneurship. For a product to be sold, it must
first be presented to the market. Entrepreneurs made their goods and services available online after
realizing the potential of social media as a business platform. The "new normal" didn't even begin
to affect the burgeoning internet retail sector. Opening an internet business is significantly simpler
than doing so the conventional method. Additionally, advertising on social media sites is more
cost-effective than erecting billboards and more effective than handing out brochures. Your target
market is comparatively broader, and you can simply connect with potential clients from various
locations. Additionally, product delivery won't be an issue. Entrepreneurs and inventors
collaborate closely and profit from one another. Entrepreneurs have the responsibility of bringing
new items to market and inspiring consumers to purchase them.
As such, the government, academia, and business sectors collaborate to create the
innovation and entrepreneurship ecosystem. According to the Global Innovation Index, the
Philippines lacks the human resources necessary to support innovation and commercialization
operations, has a shortage of scientists and engineers, has a difficult time doing business, and does
not encourage minority investors. The government should provide appropriate frameworks for
policy that will support both entrepreneurs and innovators. The government need to spend money
on its human capital. Universities should offer opportunities for students to get immersed in
industries, develop an interest in entrepreneurship, and be inspired to innovate.
That being said, The government provides very little to no financing or assistance to
scientists, developers, and inventors. The situation for small investors is worse since they must
contend with powerful rivals who are supported by multinational firms. The growth of
technopreneurship in our nation will be accelerated by supporting aspirant innovators and business
owners.
Technopreneurship supports and safeguards regional resources while also producing cash
and opening up work possibilities. The growth and development of many industries will be
accelerated by investing in our scientists, engineers, and inventors. Supporting MSMEs and
neighborhood business owners would strengthen our economy and reduce our reliance on imports.
The Philippines' most effective strategy for eradicating poverty and achieving sustainability is
technopreneurship.
REFERENCES:
The Philippine Inclusive Filipinnovation and Entrepreneurship Roadmap: Bridging the Gaps, Setting the
Milestones. (2018, October). Retrieved January 4, 2023, from
https://industry.gov.ph/wpcontent/uploads/2018/12/Inclusive-Filipinnovation-and-
Entrepreneurship-Roadmap.pdf
J. (2021, June 15). Most Successful Filipino Technopreneurs - Hanap.org. Hanap.org. Retrieved January 4,
2023, from https://hanap.org/most-successful-filipino-technopreneurs/
Rodriguez, A., & A. (2019, October 20). 30 Successful Filipino Entrepreneurs Under 30 - When In Manila.
When in Manila. Retrieved January 4, 2023, from https://www.wheninmanila.com/30-successful-
filipinoentrepreneurs-under-30/

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FIGUEROA, THOMAS BERNARD ANGELO M.

59028- REACTION PAPER

“Role of Technopreneurship in the Achievement of Inclusive

Internationally, we can observe that countries have embraced information and

Moreover, knowledge is acknowledged as a vital competency in amassing wealth in our

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