c



     Thomas Alva Edison
Let us just look around us. How many technological inventions and innovations do we
see? The answer (though clichéd) is umpteen. But in the list that we would conjure up,
there is a high probability that at least a quarter of them would have something to do
with Thomas Alva Edison, one of the few mortals who had the license to say ´Let there be
lightµ!

Thomas Alva Edison, born on February 11, 1847 is undoubtedly one of the greatest
inventors the world has seen being credited with a little more than a thousand
innovations which would range from revolutionizing ones like the electric bulb (which is
now used to symbolize a new idea and reportedly took him 10001 attempts!) to lesser
known ones like stock tickers.

But not many would recall Edison as an entrepreneur as much as a technologist In fact,
Thomas Edison is a perfect example of a Technopreneur, a word coined more than half a
century after his demise in 1931.

A Technopreneur is an entrepreneur who deals with technology products. Many a time,

the word Technology takes precedence over Entrepreneurship in the definition of a
Technopreneur. But, Entrepreneurship is in many ways as important as Technology for a
Technopreneur especially nowadays where there are very few standalone technologists.

But, this has not been the case in those days where there was a clear demarcation
between innovators and entrepreneurs. Scientists preferred to spend their time in the
laboratories than in the market. Edison was among the first exceptions. He showed that
an innovator could use his innovation to make a successful venture.

Not just the way he built a venture, but also the way he went about his researches
demands attention from prospective Technopreneurs. He emphasized on team work and
found people who had the ability to think differently to work with him. He looked at
those people·s talent and skill level than their educational qualification reflecting his
own success despite the lack of formal education.

He was also one of the first inventors who went for mass production going against the
prevalent practice of inventors satisfied with the invention and selling the patents to
business men. He bought patents for himself and had setup manufacturing facilities to
mass produce those innovations himself leading to unchallenged leadership in some
products.
The way he dealt with the trade-off between maintaining secrecy about the innovation
and at the same time creating awareness about the innovation after its completion was
classic. His laboratories were conveniently in discreet locations and he would shroud the
ongoing research in secrecy and immediately after completion he would get a patent for
it. Then his firm would go about holding public exhibition of the products pre-empting
the competitor·s ability to imitate the product legally and even brand-wise as people
would have already associated the product with Edison·s firm.

He also had the ability to value his innovations perfectly. This attribute is important for a
Technopreneurs as he has to understand the value of his innovation first before teaching
the market the value of the product.

Another important skill is the art of networking with people. He knew the right people
in the right places. He had ’enry Ford, JP Morgan, the members of Vanderbilt family in his
friend·s list. They mutually helped each other case in point being Edison helping Henry
Ford·s automobile with his technology and Ford, Morgan standing by Edison in his
infamous feud with Nikola Tesla.

Edison, though being a genius and being attributed with the phenomena like Edison
effect, focused more on improvement on existing products to make it more useable
serving niches initially and then expanding the market base.

Edison·s interest in investments and financial aspects could be gauged from his keen
interest in the activities of New York Stock Exchange (NYSE) and him merging his
General electric illuminating company with Thompson-Houston Electric Company to
infuse capital and thus enabling public distribution of DC electricity.

Edison·s success story holds remarkable lessons for entrepreneurs with his hard work
and perseverance being the first of many. He famously remarked, ´Genius is one percent
inspiration, ninety-nine percent perspirationµ. This remark narrates a lot about the man. One
can see that he had focused on all areas of management. Human resources-wise he
employed the right people, Marketing-wise he satisfied the need of the market helped by
appropriate promotional activities, Finance-wise he had the great gift of valuating his
´assetµ accurately and Operation-wise he was the pioneer of mass production.

Thus Edison is an inspiration not only to Scientists and academicians but also to
entrepreneurs with him being a model Technopreneur. Now with inspiration derived
from him, let prospective entrepreneurs do the rest 99%. The part which is called
PERSPIRATION!