Is Innovation An Important Component of Entrepreneurship?

“Innovation is a very important component of entrepreneurship. In fact, I believe the two rely on each other for people trying to start a business. Innovation needs entrepreneurship and entrepreneurship needs innovation. Basically you can’t have a business without a creation. An innovation is a completely new design that helps a business run. Businesses are always looking for the next best thing so innovation is always needed for a business to be successful. Lets say that we make something useful with the 3D printer. That idea could help us start a business for something people all around the world need. From there we can keep developing new versions of that idea or a whole new idea to keep our business together. A maker-space is probably the ideal place for someone to start at because they provide the resources needed to innovate. From the makerspace the creators can turn their inventions into a product that is used all around the world.”

-Dorsey Beckles

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“Innovation has changed the concept of entrepreneurship tremendously over the years. It has made entrepreneurship more advanced, especially with the new making of technology. It is more of a DIY and hands on than usual. For example, being able to use 3D printers because of the maker movement for entrepreneurship has gave people the opportunity to make up their own ideas. It helps people become more creative and figure out more ways to find a business to make on their own with their best interest at heart. People are able to get hands on with their ideas instead of just writing them on a piece of paper and hoping for the best. This definitely helps with the entrepreneurship side. Innovation gives people the opportunity on making new changes and getting more advanced by the day and the people interested in all of this is so excited to see what the future holds for this movement.”

-Alexis Young

I believe innovation is definitely an important component of entrepreneurship because it is the process of creativity. There is a lot that goes into being an entrepreneur. Being an innovative thinker, to succeed as an entrepreneur you need to have that creative thinking and new idea characteristic to own your own business. You can only go so far with having one idea, having many innovative ideas could take you further into your career. Steve Jobs for example, is one of the many innovative entrepreneurs who has taken his career to the next level because he didn’t just stick with one idea, he was very versatile and creative in the products and businesses he decided to pursue. When an entrepreneur takes time to plan and work on their product, their consumers will be able to tell by the quality of the product and will be able to see the time put into creating it.”

-Jeremia Smith

“​Innovation is quite an important component for entrepreneurship. Entrepreneurs always have to be creating and thinking of different ideas that goes above and beyond that are new and unique for others. Innovation and entrepreneurship practically both go hand in hand when creating a successful business. In the industry or market, entrepreneurs always have to create new products,methods, services, sources of supply or even organization. The whole purpose of innovation is to expand, grow, and renew products. When creating new products often times  entrepreneurs have to use technology that will turn their ideas into a reality. Many entrepreneurs use technology to innovate to create something new, faster, bigger, and better.”

– Lesly Menchaca

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