OSPE - The Voice - March 2018 - 7
news
engIneerIng
enTrePreneUrS:
What Sets Them Apart?
By
Edmund Konroyd-Bolden PhD Student,
University of Toronto, Civil Engineering Dept.
Lee Weissling, PhD., Ontario Society of
Professional Engineers, Senior Research Officer
engIneerS are aT The fOrefrOnT Of The knOwledge
and InnOVaTIOn eCOnOmy.
They are leaders in the ongoing technology entrepreneurship culture, both on the hardware and software fronts. In
addition to their contributions to innovation at the corporate level, they are increasingly engaged in starting and
managing small and medium-size enterprises (SMEs). SMEs are a key contributor to overall economic activity.
According to Industry Canada statistics, as of December 2015, the Canadian economy totalled 1.17 million
employer businesses. Of these, 1.14 million (97.9 per cent) were small businesses, 21,415 (1.8 per cent) were
medium-sized businesses and 2,933 (0.3 per cent) were large businesses. By far, SMEs are the main contributor
to employment in Canada. In 2015, small businesses (1-99 employees) employed over 8.2 million individuals, or
70.5 per cent of the total private labour force. Medium-sized businesses (100 - 499 employees) accounted for 19.8
per cent (2.3 million individuals) and large businesses (over 500 employees) accounted for only 9.7 per cent (1.1
million individuals) of the private sector workforce.
Many SMEs are founded by entrepreneurs and many of these are engineers. Anecdotally, we often hear that
engineers have difficulty successfully commercializing an innovation in the market. Because of their technical,
scientific based background and education, it is sometimes assumed that engineering graduates may lack business
skills, and more importantly the 'people' skills necessary to grow a business based on engineered technology or
product design. OSPE co-funded a research project conducted by a Ph.D. student from the Civil Engineering
Department at the UofT to investigate what traits and characteristics are present in successful entrepreneurs. If
these traits can be identified, we may be able to help our members to journey down the road of entrepreneurship.
The main questions posed by the research project were:
* Do engineering entrepreneurs differ significantly, as a sub group of entrepreneurs? How are engineering
entrepreneurs performing?
* What are the non-engineering skills, and/or personality traits which lead to success in entrepreneurial endeavours?
How are engineers addressing these?
8
The VOICe
March 2018
Table of Contents for the Digital Edition of OSPE - The Voice - March 2018
OSPE - The Voice - March 2018 - I
OSPE - The Voice - March 2018 - Cover1
OSPE - The Voice - March 2018 - Cover2
OSPE - The Voice - March 2018 - 3
OSPE - The Voice - March 2018 - 4
OSPE - The Voice - March 2018 - 5
OSPE - The Voice - March 2018 - 6
OSPE - The Voice - March 2018 - 7
OSPE - The Voice - March 2018 - 8
OSPE - The Voice - March 2018 - 9
OSPE - The Voice - March 2018 - 10
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OSPE - The Voice - March 2018 - 19
OSPE - The Voice - March 2018 - 20
OSPE - The Voice - March 2018 - 21
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OSPE - The Voice - March 2018 - 27
OSPE - The Voice - March 2018 - 28
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OSPE - The Voice - March 2018 - 36
OSPE - The Voice - March 2018 - 37
OSPE - The Voice - March 2018 - Cover3
OSPE - The Voice - March 2018 - Cover4
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