Please note! This essay has been submitted by a student.
I have always been interested in digitals, technologies, creativity, and everything that’s about science, yesterday our lecturer gave us a task to search about one of these three things “digital technology, or creativity or entrepreneurship” and that made me sure question my information and rethink do I really know about entrepreneurship that much? I know digital technology and creativity very well, so I to start off I’m going to talk about creativity and innovation because it does play a huge role in being an entrepreneur and share what I found interesting while surfing the internet.
Over the last years, innovation and creativity have become critical skills for achieving success in developed economies. The need for creativity has arisen as entrepreneurs are well known of being creatives, problem solvers, and thinkers.And here is a video explains more about the difference between creativity and innovation that I found it clearing: There are people saying creativity has nothing to do with innovation, that innovation is a discipline, I absolutely disagree with them. Creativity is also a correction and a crucial part of the innovation equation. Because there can’t be an innovation without creativity. The key measure in both creativity and innovation is value creation.
To start off I need to know what is an entrepreneur? A person that identifies a need (any need) and fills it, A person that never gives up, A person with no fear of failure, takes risks, an entrepreneur does not wait for something to happen he’s the one who makes it happen and won’t let others stop them until they achieve what they think it is possible.So Entrepreneurship means the process of designing, launching and running a new business, which is often initially a small business The people who create these businesses are called entrepreneurs.In my point view I’m seeing more and more younger people each day thinking about starting their own small business.
“Those who are crazy enough to think they can change the world usually do.”― Steve Jobs
My favorite example of an entrepreneur that needs no introduction is Steve Jobs. As we all loved his innovations from Macintosh apple to the last product launched before he died, and till now his great inventions live and till this day the apple company continues to innovate new smart phones, watches, computers and so on. It all started from an entrepreneur garage which it’s Steve Jobs garage at the age of 23.
According to Global Entrepreneurship report, the main two reasons behind young people starting their own business duo to:The traditional job for life career path has become rarer, so they will need to be seen as an additional way of allowing the youth into the labor market and promoting job creation.Nowadays it is easier to start your own business because of the Internet and social media where they can learn from previous scenarios.
Great example of young entrepreneur: Riya Karumanchi, is a 15 year old entrepreneur reinvented the standard white cane with smart technology. from high school student to a CEO of an accessible technology company.
Karumanchi hated seeing her blind friend struggle on a daily basis while navigating the home, her friend kept bumping into tables and lamps, Karumanchi remembered, her white cane offering little help identifying objects higher than her knees. When she went home she did some research, she was stunned to find out why. She quoted: “I always thought that the white cane had some sort of technology in it to help a person navigate,” said the now 15-year-old. “She was just relying on a stick that was never updated.” It was not long after, she started work on an idea to help blind people more safely navigate by infusing cutting edge smart technology into the standard white cane.Here is an educational video about her WeWALK smart cane: In my opinion WeWALK is an innovative smart cane to the visually impaired. Moving through the world more independently through for blind people will make them more independent, more confidant, they can live like normal human beings without the need for help, having all these benefits such as, Smartphone Integration, Advanced Obstacle Detection, Alexa Enabled, Open Platform for Endless Practical Skills etc. is such a bless for blind people this innovation will help both blind communities and their families and friends.
Let’s get into statistics: It is said that “entrepreneurs are the ones who really change the world.”Before thinking to be an entrepreneur I found these 4 insightful entrepreneurship statistics, answering these questions: Chances that a 1sttime entrepreneur will succeed? And if if an entrepreneur had previous experience? How do they fund their business? The percent of companies started their business from a garage or a basement? How many hours do entrepreneurs work per week? Chances that a 1sttime entrepreneur will succeed? And if if an entrepreneur had previous experience?
Entrepreneurs who achieved the desired aim in a previous project, like a company that went public, got a 30% chance of gaining success in their next project. Moreover, 1st time business owners got only an 18% of gaining success. Entrepreneurs who already failed got a 20% chance of gaining success.
How do they fund their business? 80% of entrepreneurs use their own money to fund their projects. The other 20% took money from families, investors, or bank. The percent of companies started their business from a garage or a basement? 51.6% of businesses were operated originally from entrepreneur’s house.
In conclusion, all these information started from just a simple question “what is digital technology, creativity and entrepreneurship?” and I’m grateful for spending so much surfing the internet and watching interesting videos about entrepreneurs, reading all these great mind-blowing stories of entrepreneurs and how they started from the bottom till they became the billionaires and reading so many positive statistics about startups makes me what to invest in my own everyday ideas who knows maybe someday i will be and entrepreneur.