The entrepreneur or team must possess the knowledge and skill necessary to create the products or services the new venture will provide.This refers most directly to the entrepreneur's:

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Technical competence refers to the specific knowledge and expertise necessary to create the products or services that the new venture will offer. This includes areas such as engineering, programming, or any other technical skills required for the venture. While social skills, marketing competence, and vision are also important for a successful entrepreneurial venture, they are not as directly related to the creation of the product or service.

The Entrepreneur or Team Must Possess the Knowledge and Skill