Indian Journal of Fundamental and Applied Life Sciences ISSN: 2231– 6345 (Online) An Open Access, Online International Journal Available at www.cibtech.org/sp.ed/jls/2014/04/jls.htm 2014 Vol. 4 (S4), pp. 1604-1610/Hadi and Zadeh Research Article © Copyright 2014 | Centre for Info Bio Technology (CIBTech) 1604 ENTREPRENEURSHIP UNDER THE EFFECT OF INFORMATION TECHNOLOGY *Mohammad Hadi and Khorashadi Zadeh Department of IT Management, Islamic Azad University, Iran *Author for Correspondence ABSTRACT An Entrepreneur is a manager or the owner of commercial company that creates resources and money by risking and initiative. The Netpreneurship is the capability to run an online business. It needs only the Connectivity. An Entrepreneur, as long as he has a service which the market demands can set up a feasible and viable trade with his Intellectual Capital as the principle input and the Connectivity Infrastructure as the only physical input. Internet is possibly the most significant revolution in science and technology that our generation could fantasize or imagine. It has introduced in various benefits to the society, culture, economics and politics. The Entrepreneur is a premium member in the community. She/he provides services to the society and community including employment. Keywords: Entrepreneur, Netpreneur, "Intellectual Capital", Infrastructure INTRODUCTION Entrepreneurship is a phenomenon of tremendous societal importance, and it is quite appropriate that in the globalization era, particularly, when we are speaking about immigration. Internal and external information and communication processes at enterprises across almost every industry sector have been increasingly supported by electronic information technologies. The fundamental advantages of such technologies insure that this trend will continue in the future. The constant development of technology in the accompanying Net Economy has had a significant influence on various possibilities for developing innovative business concepts based on electronic information and communication networks and realizing these by establishing a new company (e-ventures). Against this background, the term’ e-entrepreneurship’ describes the act of establishing new companies specifically in the Net Economy. This paper is aimed to refer the theme “e- Entrepreneurship” having as reference companies that operate only on internet. It is quite evident that we are on knowledge era and those who are desirous of becoming an e-entrepreneur need to do a lot of exercise prior to venturing into online business. Because, online business requires systematic and in-depth study as our entrepreneurs has to administer their companies in different virtual places, having different customers, suppliers and competitors. Entrepreneurship According to Hissich and Peters (2002), entrepreneurship consist on the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks and receiving the resulting rewards of monetary and personal satisfaction and independence. According to Nafziger (1997 and 2006), the entrepreneur can be viewed in at least four ways: (1) As the coordinator of other production resources– land, labor, and capital; (2) As the decision maker under uncertainty; (3) As the innovator; and (4) As the gap filler and input completer. Characteristics of Entrepreneurship During 17th Century, Person bearing risks of profit (loss) in a fixed contract with government. Richard (1725), person bearing risks is different from one supplying capital. Jean (1803) separated profits of entrepreneur form profits of capital. Francis (1876) distinguished between those who supplied funds and received interest and those who received profit from managerial capabilities. Joseph (1934) entrepreneur