Industry 4.0 and Its Impact on Entrepreneurial Ecosystems: An Examination of Trends and Key Implications
Journal Title: Journal of Organizations, Technology and Entrepreneurship - Year 2023, Vol 1, Issue 1
Abstract
In the burgeoning nexus between Industry 4.0 and entrepreneurial ecosystems, a transformative and disruptive dynamic has been observed. Defined by the integration of digital technologies into traditional sectors, Industry 4.0 has been found to alter the way in which entrepreneurs conceptualize, function, and collaborate. This review elucidates salient outcomes and implications of such intersections. Paramount among the findings are the proliferation of companies operating within the Industry 4.0 paradigm, the emergence of hubs centred on collaborative innovation, and the rising prominence of industry-specific ecosystems. Startups have been identified as pivotal in effecting supply chain transformations, embedding sustainability, and fostering digital talent. For practitioners navigating this terrain, it is imperative to champion digital metamorphosis, forge strategic partnerships, underscore the primacy of sustainable practices, and nurture digital expertise. Corporate alliances, ecosystem synergies, and opportunities in the global marketplace have been underscored as potent avenues for expansion and ingenuity. Furthermore, a marked influence of Industry 4.0 on the resilience and adaptability of entrepreneurial ecosystems has been discerned. The confluence of such technologies and ecosystems has been posited as offering an unprecedented juncture for both nascent and established businesses to spur economic progress, tackle pressing global challenges, and cultivate a robust culture of innovation and entrepreneurship.
Authors and Affiliations
Raman Kumar,Swapandeep Kaur,Živko Erceg,Ivan Mirović
Keywords
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- EP ID EP732674
- DOI https://doi.org/10.56578/jote010102
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