Innovation and Entrepreneurship for the Self-Reliant and Localized Economy
Innovation and entrepreneurship (I&E) are two closely related words that go hand in hand in this era. Innovation is about applying creativity for different engineering/technology/service problems and producing unique solutions, while entrepreneurship is about applying the same to bring ideas to life by making them feasible to work. It is also about doing the business work. In this chapter, the authors review how innovation and entrepreneurship help create a self-reliant and localized economy. The chapter also looks at the importance of introducing entrepreneurship and innovation to an academic curriculum. By this approach, universities can reduce the gap of introducing the I&E concepts and use their synergies with the engineering technology course contents to create an innovative mindset, thereby creating a self-reliant and localized economy.