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Entrepreneurship and Innovation


Entrepreneurship and Innovation

Word count 2707


Using relevant theories, examples from various companies, Ideas etc. apply the following entrepreneurial business concepts for a new venture idea of your choice.
• Digital Nomads
• Startups
• Business incubators
• Timmons model of Entrepreneurship

friend wishes to obtain your expertise on intellectual property rights, copyrights, trademarks, patents, design rights etc. Describe as to what he should do & know about all of the above before registering a company?

For a new company of your choice, assess the digital and social media marketing platform strategies to leverage opportunities in the sharing and peer-to- peer economy.

Discuss the evolution and trends that can be identified, which has changed the landscape of Entrepreneurship from 5 decades ago to the present situation?

Explain the main difference between an idea and opportunity? Describe as to how a founder of an organization could initiate the idea of a new product and make it a business opportunity?

Explain as to how an entrepreneur’s visionary ideas go through an entire process to make the initial idea to be fruitful?

A very close friend of yours has given you the following amounts of money. He wants your advice on what can be done with it. Justify your response to him using facts & figures.
i) Rs 10,000
ii) Rs 100,000
iii) Rs 1,000,000

Additional information


Part 1
Learn AppOn

Learn AppOn is a new venture idea which plan to develop a new version of platform. This mobile application create “engaged education methodology” which create common platform to anyone to teach and learn from anywhere in the world. There is a cloud computing which allow anyone with the access can learn from anywhere subjects such as languages, programing, statistics and many other as tailored way. Anyone can collaborate anytime to teach the subjects.
This is a Startup business. Startup is early development stage of the business and it refers a company or a project commenced by an entrepreneur to pursue developed and certify a scalable ascendable business model Barkawi, 2015). Despite of self-employment and small scale business which never aim to develop bigger, startups refers new business models that aim to develop bigger beyond the one founder. Facebook is also a startup business which began small and then become one of the largest company of the world.
Digital Nomads can collaborate with Learn AppOn as teachers to teach different subjects to users. Digital Nomads are independently located people who use technology to conduct their jobs. Rather than present at the office and communicate directly, Digital Nomads work remotely and communicate via digital platforms. Currently, huge number of digital nomads work in many different industries in knowledge economy. Many digital Nomads involve in global online marketplaces such as Fiverr,, Upwork etc. in sectors like marketing, IT, design, writing, tutoring and consulting etc.
Provide funds for the project is a challenge. Further, Startups need special technical support from the expertise to face certain difficulties. Even though, entrepreneurs have technical knowledge to develop the product, sometimes, they do not know have other knowledge such as marketing, finance etc. Business incubators is a new concept which buildup to support entrepreneurs. The term of business incubator, use to refer the centers, which support new firms in general and specialized technology related problems related with the startups. It is a shared office space facility which offer strategic, technological assistance to new technology based firms to add more value (Barkawi, 2015). Further, business incubators support to Startups to fine investors. In Sri Lanka, there are business incubators which conduct by both government sector and private companies such as Dialog, Mobitel and Hemas.