Technological change is a term that describes a period of rapid change in technological systems and practices. Technological change occurs through three interacting forces. These forces are cultural, technological, and economic. Cultural change occurs through what people buy, use, and create; technological change occurs through what people are able to do because of new technologies, equipment, and devices that are available. Economic change occurs through what people sell, buy, and generate; technology changes through what people are able to produce, purchase, and build.
A Tech sector refers to technology-related businesses. Tech companies incorporate computer science, computer engineering, electrical and electronics engineering, information systems, and related fields. Some well-known tech companies include Apple, Microsoft, Cisco, Microsoft Office Systems, and Applied Software International. Tech industries provide workers with an enriched range of experiences, tools, and knowledge that they cannot get anywhere else. In addition, there are numerous employment opportunities for techies across a variety of sectors, including information technology, applied software, business, government, healthcare, science, and manufacturing.
Venture capitalists are usually the key sources of venture capital for tech companies. The venture capital firms look primarily at the potential revenue of the company and the efficiency of management. The venture capitalists also want to see solid research and development in technology, marketing, and finance that will support the business. In fact, venture capitalists are not interested in any one particular attribute of a company, but rather they want to see a mix of strong traits that make up a successful venture capital-backed tech company. Thus, it is imperative that a venture capital firm to examine not only the potential revenue of the business, but also the efficiency of management.