Entrepreneurship Not Just About High Tech

Another misconception that tends to exist is that all High Potential Startups are going to be high technology, whether that be a biotech or hardware or software venture. The fact is that there are plenty of good ideas out there that may use elements of technology but are not high technology per se.

One great example of a consumer product from the University system is that of Gatorade. Created by medical researchers attached to the Gators American football team at the University of Florida, they needed a drink that could replace moisture and elements lost to football players as they trained and played in the humid Florida heat. Hence the name, Gatorade, which is now owned by PepsiCo. The University has made a lot of money from the development needless to say.

Students and younger researchers will come up with many novel and inventive ideas, yes the majority of them will be technology based or at least have a high technology content, being the world we live in. But some might not and these are as valid an entrepreneurial endeavor as any others. If someone comes up with the next Wal-Mart or Nike, rather than a Google or Microsoft, who is going to complain? Ireland has a number of industries that are ripe for entrepreneurial development and innovation, be it the cultural sector (lots of talk but not so much action on really bright new ideas) and the food industry (some innovation going on but still a long way to go).