Skip to main content

Advertisement

SpringerLink
Log in

Impact of technological innovation on digital entrepreneurship and the effects on the economy

  • Published:
International Entrepreneurship and Management Journal Aims and scope Submit manuscript

Abstract

Digital entrepreneurship is a recent phenomenon that has emerged owing to various factors, including technological innovation. This kind of entrepreneurship is currently implemented in many countries and has the potential to boost the economy and reduce poverty by creating employment and self-employment. This paper primarily looks to analyse the influence of technological innovation on the growth of digital entrepreneurship, and its effects on the economy through growth in employment. In the absence of any systematic review on this subject, this study aims to map the relevant research and study the relationship between technological innovation and digital entrepreneurship. A Systematic Literature Review methodology based on a sample of 76 papers from the Scopus and Web of Science databases, published between 1990 and 2022, has been used to identify, select, and evaluate published research. The results confirm that technological innovation is an important driver of digital entrepreneurship, but it needs to be combined with other key factors, such as digital knowledge and skills. This study contributes to existing literature by providing a more realistic view of what digital entrepreneurship means for individuals’ prosperity and generates valuable knowledge to create necessary conditions to promote sustainable and successful digital entrepreneurship. It also identifies several future lines of research that should offer meaningful value to academics and practitioners.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1
Fig. 2

Source: Authors’ own

Fig. 3

Source: Authors’ own

Fig. 4

Source: Authors’ own

Fig. 5

Source: Authors’ own

Fig. 6

Source: Authors’ own

Similar content being viewed by others

Data availability

Data used in this research can be requested from authors.

References

  • Abubakre, M., Zhou, Y., & Zhou, Z. (2022). The impact of information technology culture and personal innovativeness in information technology on digital entrepreneurship success. Information Technology and People, 35(1), 204–231.

    Article  Google Scholar 

  • Akhter, A., Karim, M., & Islam, K. (2022). The Impact of Creativity and Innovativeness on Digital Entrepreneurship: Empirical Evidence from Bangladesh. Journal of Asian Finance Economic and Business, 9(3), 77–82.

    Google Scholar 

  • Anagnou, M., Handrich, M., Schnellbacher, B., & Heidenreich, S. (2019). Two sides of the same coin - how the application of effectuation and causation shapes business model elements throughout the development stages of digital start-ups. International Journal of Entrepreneurial Venturing, 11(4), 309–334.

    Article  Google Scholar 

  • Antonizzi, J., & Smuts, H. (2020, April). The characteristics of digital entrepreneurship and digital transformation: A systematic literature review. In Conference on E-Business, e-Services and e-Society (pp. 239–251). Springer, Cham.

  • Antonopoulou, K., & Begkos, C. (2020). Strategizing for digital innovations: Value propositions for transcending market boundaries. Technological Forecasting and Social Change, 156.

  • Arvidsson, V., & Mønsted, T. (2018). Generating innovation potential: How digital entrepreneurs conceal, sequence, anchor, and propagate new technology. Journal of Strategic Information Systems, 27(4), 369–383.

    Article  Google Scholar 

  • Babin, D. D., & Vetrivel, S. C. (2020). Cyberspace has greatly helped entrepreneurs to flourish. Journal of Critical Reviews, 7(7), 149–152.

    Google Scholar 

  • Badzińska, E. (2016). The concept of technological entrepreneurship: The example of business implementation. Entrepreneurial Business and Economics Review, 4(3), 57–72.

    Article  Google Scholar 

  • Beliaeva, T., Ferasso, M., Kraus, S., & Damke, E. J. (2020). Dynamics of digital entrepreneurship and the innovation ecosystem: A multilevel perspective. International Journal of Entrepreneurial Behaviour and Research, 26(2), 266–284.

    Article  Google Scholar 

  • Biclesanu, I., Anagnoste, S., Branga, O., & Savastano, M. (2021). Digital entrepreneurship: Public perception of barriers, drivers, and future. Administrative Sciences, 11(4).

  • Butler, J. S., Garg, R., & Stephens, B. (2020). Social Networks, Funding, and Regional Advantages in Technology Entrepreneurship: An Empirical Analysis. Information Systems Research, 31(1), 198–216.

    Article  Google Scholar 

  • Camargo, M. E., da Silva, M. B., Dullius, A. I. D., Priesnitz, M. C., Biegelmeyer, U. H., & Da Motta, M. E. V. (2020). Approaches to Entrepreneurship: Bibliometric Study of Scientific Production at Scopus Base. Revista Geintec-Gestao Inovacao E Tecnologias, 10(4), 5698–5714.

    Article  Google Scholar 

  • Cavallo, A., Ghezzi, A., Dell’Era, C., & Pellizzoni, E. (2019). Fostering digital entrepreneurship from startup to scaleup: The role of venture capital funds and angel groups. Technological Forecasting and Social Change, 145, 24–35.

    Article  Google Scholar 

  • Chalmers, D., Matthews, R., & Hyslop, A. (2021). Blockchain as an external enabler of new venture ideas: Digital entrepreneurs and the disintermediation of the global music industry. Journal of Business Research, 125, 577–591.

    Article  Google Scholar 

  • Chatterjee, S., Chaudhuri, R., Vrontis D., & Basile G. (2021). Digital transformation and entrepreneurship process in SMEs of India: a moderating role of adoption of AI-CRM capability and strategic planning. Journal of Strategy and Management.

  • Chia, C. C., & Liang, C. (2016). Influence of creativity and social capital on the entrepreneurial intention of tourism students. Journal of Entrepreneurship, Management and Innovation, 12(2), 151–168.

    Article  Google Scholar 

  • Church, E. M., & Oakley, R. L. (2018). Etsy and the long-tail: How microenterprises use hyper-differentiation in online handicraft marketplaces. Electronic Commerce Research, 18(4), 883–898.

    Article  Google Scholar 

  • Cueto, L. J., Frisnedi, A. F. D., Collera, R. B., Batac, K. I. T., & Agaton, C. B. (2022). Digital Innovations in MSMEs during Economic Disruptions: Experiences and Challenges of Young Entrepreneurs. Administrative Sciences, 12(1).

  • Ðaković, R. I., Raut, J., Mitrović, V. S., Dudić, B., & Trel’ová S. & Vrhovac V. (2022). Factors That Limit the Development of the Digital Entrepreneurial System in the Scale-Up Phase of the Enterprise Life Cycle. Mathematics, 10, 9.

    Google Scholar 

  • Delacroix, E., Parguel, B., & Benoit-Moreau, F. (2019). Digital subsistence entrepreneurs on Facebook. Technological Forecasting and Social Change, 146, 887–899.

    Article  Google Scholar 

  • Denyer, D., & Tranfield, D. (2009). Producing a systematic review. In D. A. Buchanan & A. Bryman (Eds.), The Sage handbook of organizational research methods (pp. 671–689).

  • Dy, A. M. (2022). Levelling the playing field? Towards a critical-social perspective on digital entrepreneurship. Futures, 135.

  • Dy, M. A., Martin, L., & Marlow, S. (2018). Emancipation through digital entrepreneurship? A critical realist analysis. Organization, 25(5), 585–608.

    Article  Google Scholar 

  • Elia, G., Margherita, A., & Passiante, G. (2020). Digital entrepreneurship ecosystem: How digital technologies and collective intelligence are reshaping the entrepreneurial process. Technological Forecasting and Social Change, 150, 119791.

    Article  Google Scholar 

  • Elsafty, A., & Mandouh Elzeftawy, A. (2021). The New Era of Digital Transformation and COVID-19 Effect on The Employment in Mobile Operators in Egypt. Business and Management Studies, 7(1), 74.

    Article  Google Scholar 

  • Faludi, J. (2020). How to Create Social Value Through Digital Social Innovation? Unlocking the Potential of the Social Value Creation of Digital Start-Ups. Journal of Social Entrepreneurship, 1–18.

  • Fernandes, C., Ferreira, J. J., Veiga, P. M., Kraus S., & Dabić, M. (2022). Digital entrepreneurship platforms: Mapping the field and looking towards a holistic approach. Technology in Society, 70.

  • Fossen, F. M., & Sorgner, A. (2021). Digitalization of work and entry into entrepreneurship. Journal of Business Research, 125, 548–563.

    Article  Google Scholar 

  • Furdui, A., Edelhauser, E., & Popa, E.-I. (2019). Innovation management correlated with the models of development of technological entrepreneurship. Quality - Access to Success, 20, 513–518.

    Google Scholar 

  • Ghezzi, A. & Cavallo, A. (2020). Agile Business Model Innovation in Digital Entrepreneurship: Lean Startup. Journal of Business Research, 110, 519-537.

  • Grzeslo, J. (2020). A generation of bricoleurs: digital entrepreneurship in Kenya. World Journal of Entrepreneurship Management and Sustainable Development, 16(4), 403-412.

  • Guo, H., Guo, A., & Ma, H. (2022). Inside the black box: How business model innovation contributes to digital start-up performance. Journal of Innovation and Knowledge, 7.

  • Hair, N., Wetsch, L. R., Hull, C. E., Perotti, V., & Hung, Y. T. C. (2012). Market orientation in digital entrepreneurship: advantages and challenges in a Web 2.0 networked world. International Journal of Innovation and Technology Management, 9(6), 1250045.

  • He, X. (2019). Digital entrepreneurship solution to rural poverty: Theory, practice and policy implications. Journal of Developmental Entrepreneurship 24(1).

  • Herve, A., Schmitt, C., & Baldegger, R. (2020). Digitalization, Entrepreneurial Orientation and Internationalization of Micro-, Small- and Medium-Sized Enterprises. Technology Innovation Management Review, 10(4), 5–17.

    Article  Google Scholar 

  • Hull, C. E. K., Hung, Y. T. C., Hair, N., Perotti, V., & DeMartino, R. (2007). Taking advantage of digital opportunities: A typology of digital entrepreneurship. International Journal of Networking and Virtual Organisations, 4(3), 290–303.

    Article  Google Scholar 

  • Jafari-Sadeghi, V., Garcia-Perez, A., Candelo, E., & Couturier, J. (2021). Exploring the impact of digital transformation on technology entrepreneurship and technological market expansion: The role of technology readiness, exploration and exploitation. Journal of Business Research, 124, 100–111.

    Article  Google Scholar 

  • Jawad, M., Naz, M., & Maroof, Z. (2021). Era of digital revolution: Digital entrepreneurship and digital transformation in emerging economies. Business Strategy and Development, 4(3), 220–228.

    Article  Google Scholar 

  • Kang, H. Y. (2022). Technological engagement of women entrepreneurs on online digital platforms: Evidence from the Apple iOS App Store. Technovation, 114, 102522.

  • Kreuzer, T., Lindenthal, A. K., Oberlaender, A., & Röglinger, M. (2022). The Effects of Digital Technology on Opportunity Recognition. Business & Information Systems Engineering, 64(1), 47-67.

  • Khanal, P. B., Aubert, B. A., Bernard, J.-G., Narasimhamurthy, R., & Dé, R. (2022). Frugal innovation and digital effectuation for development: The case of Lucia. Information Technology for Development, 28(1), 81–110.

    Article  Google Scholar 

  • Kitsios, F., Kamariotou, M., & Grigoroudis, E. (2021). Digital Entrepreneurship Services Evolution: Analysis of Quadruple and Quintuple Helix Innovation Models for Open Data Ecosystems. Sustainability, 13, 21.

    Article  Google Scholar 

  • Kollmann, T., Kleine-Stegemann, L., de Cruppe, K., & Then-Bergh, C. (2022). Eras of Digital Entrepreneurship: Connecting the Past, Present, and Future. Business and Information Systems Engineering, 64(1), 15–31.

    Article  Google Scholar 

  • Kotnik, P., & Stritar, R. (2015). Ict as the facilitator of entrepreneurial activity: An empirical investigation. Amfiteatru Economic, 17(38), 277–290.

    Google Scholar 

  • Kumar, V., Ramachandran, D., & Kumar, B. (2019). The Influence of new-age technologies: A research agenda. Journal of Business Research, 125, 864-877.

  • Ladeira, M. J. M., Ferreira, F. A. F., Ferreira, J. J. M., Fang, W., Falcão, P. F., & Rosa, Á. A. (2019). Exploring the determinants of digital entrepreneurship using fuzzy cognitive maps. International Entrepreneurship and Management Journal, 15(4), 1077–1101.

    Article  Google Scholar 

  • Leong C., Tan F. T. C., Tan B., & Faisal F. (2022). The emancipatory potential of digital entrepreneurship: A study of financial technology-driven inclusive growth. Information and Management, 59(3).

  • Lin, Y.-K., & Maruping, L. M. (2022). Open-Source Collaboration in Digital Entrepreneurship. Organization Science, 33(1), 212–230.

    Article  Google Scholar 

  • Luckman, S. (2015). Craft and the creative economy. Springer.

    Book  Google Scholar 

  • Mafimisebi, O. P., & Ogunsade, A. I. (2022). Unlocking a Continent of Opportunity: Entrepreneurship and Digital Ecosystems for Value Creation in Africa. FIIB Business Review, 11(1), 11–22.

    Article  Google Scholar 

  • Martinez, D. A., Martin, L., & Marlow, S. (2018). Emancipation through digital entrepreneurship? A Critical Realist Analysis. Organization, 25(5), 585–608.

    Google Scholar 

  • Martínez-Navalón, J. G., Gelashvili, V., DeMatos, N., & Herrera-Enríquez, G. (2023). Exploring the impact of digital knowledge management on technostress and sustainability. Journal of Knowledge Management (ahead-of-print, nº ahead-of-print).

  • McAdam, M., Crowley, C., & Harrison, R. T. (2020). Digital girl: Cyberfeminism and the emancipatory potential of digital entrepreneurship in emerging economies. Small Business Economics, 55(2), 349–362.

    Article  Google Scholar 

  • Mir, A. A., Hassan, S., & Khan, S. J. (2022). Understanding digital entrepreneurial intentions: A capital theory perspective. International Journal of Emerging Markets (ahead-of-print).

  • Núñez-Merino, M., Maqueira-Marín, J. M., Moyano-Fuentes, J., & Martínez-Jurado, P. J. (2020). Information and digital technologies of Industry 4.0 and Lean supply chain management: a systematic literature review. International Journal of Production Research, 58(16), 5034–5061.

  • Ojala, A., & Lyytinen, K. (2020). How do entrepreneurs create indirect network effects on digital platforms? A study on a multi-sided gaming platform. Technology Analysis & Strategic Management, 1–16.

  • Petti, C., & Zhang, S. (2011). Explaining technological innovation in Chinese enterprises: Insights from technological entrepreneurship. Frontiers of Business Research in China, 5(3), 452–471.

    Article  Google Scholar 

  • Prendes-Espinosa, P., Solano-Fernández, I. M., & García-Tudela, P. A. (2021). Emdigital to promote digital entrepreneurship: The relation with open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 7(1), 1–14.

    Article  Google Scholar 

  • Psomadaki, O., Matsiola, M., Dimoulas, C. A., & Kalliris, G. M. (2022). The Significance of Digital Network Platforms to Enforce Musicians’ Entrepreneurial Role: Assessing Musicians’ Satisfaction in Using Mobile Applications. Sustainability, 14, 10.

    Article  Google Scholar 

  • Rai, A., & Tang, X. (2014). Research commentary—information technology-enabled business models: A conceptual framework and a coevolution perspective for future research. Information Systems Research, 25(1), 1–14.

    Article  Google Scholar 

  • Reuschke, D., & Mason C. (2022). The engagement of home-based businesses in the digital economy. Futures, 135.

  • Richter, C., Kraus, S., Brem, A., Durst, S., & Giselbrecht, C. (2017). Digital entrepreneurship: Innovative business models for the sharing economy. Creativity and Innovation Management, 26(3), 300–310.

    Article  Google Scholar 

  • Rosenbaum, H., & Cronin, B. (1993). Digital entrepreneurship: Doing business on the information superhighway. International Journal of Information Management, 13(6), 461–463.

    Article  Google Scholar 

  • Roundy, P. T. (2022). Technology rewind: The emergence of the analog entrepreneurial ecosystem. Journal of General Management, 47(2), 111–125.

    Article  Google Scholar 

  • Saad, B. S., & Choura, F. (2022). Effectiveness of virtual reality technologies in digital entrepreneurship: A comparative study of two types of virtual agents. Journal of Research in Marketing and Entrepreneurship, 24(1), 195–220.

    Article  Google Scholar 

  • Sahut, J. M., Iandoli, L., & Teulon, F. (2019). The age of digital entrepreneurship. Small Business Economics, 1–11.

  • Sanasi, S., Ghezzi, A., Cavallo, A., & Rangone, A. (2020). Making sense of the sharing economy: A business model innovation perspective. Technology Analysis & Strategic Management, 32(8), 895–909.

    Article  Google Scholar 

  • Satalkina, L., & Steiner, G. (2020). Digital entrepreneurship and its role in innovation systems: A systematic literature review as a basis for future research avenues for sustainable transitions. Sustainability, 12(7), 2764.

    Article  Google Scholar 

  • Schiavone, F., Tutore, I., & Cucari, N. (2020). How digital user innovators become entrepreneurs: A sociomaterial analysis. Technology Analysis and Strategic Management, 32(6), 683–696.

    Article  Google Scholar 

  • Schmitz, A., Urbano, D., Dandolini, G. A., De Souza, J. A., & Guerrero, M. (2017). Innovation and entrepreneurship in the academic setting: a systematic literature review. International Entrepreneurship and Management Journal, 13, 369–395.

    Article  Google Scholar 

  • Secundo, G., Rippa, P., & Cerchione, R. (2020). Digital Academic Entrepreneurship: A structured literature review and avenue for a research agenda. Technological Forecasting And Social Change, 157.

  • Shukla, A., Kushwah, P., Jain, E., & Sharma, S. K. (2021). Role of ICT in emancipation of digital entrepreneurship among new generation women. Journal of Enterprising Communities, 15(1), 137–154.

    Article  Google Scholar 

  • Soluk, J., Miroshnychenko, I., Kammerlander, N., & De Massis, A. (2021a). Family Influence and Digital Business Model Innovation: The Enabling Role of Dynamic Capabilities. Entrepreneurship: Theory and Practice, 45(4), 867–905.

  • Soluk J., Kammerlander, N., & Darwin S. (2021b). Digital entrepreneurship in developing countries: The role of institutional voids. Technological Forecasting and Social Change, 170.

  • Song, A. K. (2019). The Digital Entrepreneurial Ecosystem-a critique and reconfiguration. Small Business Economics, 53(3), 569–590.

    Article  Google Scholar 

  • Steininger, D. M. (2019). Linking information systems and entrepreneurship: A review and agenda for IT associated and digital entrepreneurship research. Information Systems Journal, 29, 363–407.

    Article  Google Scholar 

  • Sussan, F., & Acs, Z. J. (2017). The digital entrepreneurial ecosystem. Small Business Economics, 49(1), 55–73.

    Article  Google Scholar 

  • Swartz, E. M., Scheepers, C. B., & Toefy, T. (2022). Women entrepreneurs’ opportunity identification of digital platform start-ups: emerging evidence from South Africa. International Journal of Gender and Entrepreneurship, 14(3), 352-374

  • Törhönen, M., Giertz, J., Weiger, W. H., & Hamari, J. (2021). Streamers: the new wave of digital entrepreneurship? Extant corpus and research agenda. Electronic Commerce Research And Applications, 46.

  • Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence-informed management knowledge by means of systematic review. British Journal of Management, 14(3), 207–222.

    Article  Google Scholar 

  • Ulhøi, J. P. (2021). A Digital Perspective on Entrepreneurship. Journal of Innovation Management, 9(3), 71–89.

    Article  Google Scholar 

  • Venkataraman, S. (1997). Value at risk for a mixture of normal distributions: The use of quasi-Bayesian estimation techniques. Economic Perspectives-Federal Reserve Bank of Chicago, 21, 2–13.

    Google Scholar 

  • Yáñez-Valdés, C. (2022). Technological entrepreneurship: Present conditions and future perspectives for Latin America. Management Research, 20(1), 25–38.

    Google Scholar 

  • Zaheer, H., Breyer, Y., & Dumay, J. (2019). Digital entrepreneurship: An interdisciplinary structured literature review and research agenda. Technological Forecasting and Social Change, 148.

  • Zahra, S. A., Liu, W., & Si, S. (2022). How digital technology promotes entrepreneurship in ecosystems. Technovation. https://doi.org/10.1016/j.technovation.2022.102457

    Article  Google Scholar 

  • Zapata-Huamaní, G. A., Fernández-López, S., & Andreassi, T. (2022). The role of the university as a regional determinant of technological entrepreneurship. Technology Analysis and Strategic Management. https://doi.org/10.1080/09537325.2022.2049740

    Article  Google Scholar 

  • Zhai, Y., Yang, K., Chen, L., Lin, H., Yu, M., & Jin, R. (2022). Digital entrepreneurship: Global maps and trends of research. Journal of Business and Industrial Marketing. https://doi.org/10.1108/JBIM-05-2021-0244

    Article  Google Scholar 

  • Zhao, F., & Collier, A. (2016). Digital entrepreneurship: Research and practice. 9th Annual Conference of the EuroMed Academy of Business.

    Google Scholar 

  • Zhao, F., Barratt-Pugh, L., Standen, P., Redmond, J., & Suseno, Y. (2022). An exploratory study of entrepreneurial social networks in the digital age. Journal of Small Business and Enterprise Development, 29(1), 147–173.

    Article  Google Scholar 

  • Zhao, H., Seibert, S. E., & Hills, G. E. (2005). The mediating role of self-efficacy in the development of entrepreneurial intentions. Journal of Applied Psychology, 90(6), 1265.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Rey Juan Carlos University, Business Economic Department, Madrid, Spain

    Lola Redondo-Rodríguez, Diana C. Pérez-Bustamante Yábar & Eloísa Díaz-Garrido

Authors
  1. Lola Redondo-Rodríguez
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Diana C. Pérez-Bustamante Yábar
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Eloísa Díaz-Garrido
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Lola Redondo-Rodríguez.

Additional information

Publisher's Note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Supplementary Information

Below is the link to the electronic supplementary material.

Supplementary file1 (DOCX 62 KB)

Rights and permissions

Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Redondo-Rodríguez, L., Yábar, D.C.PB. & Díaz-Garrido, E. Impact of technological innovation on digital entrepreneurship and the effects on the economy. Int Entrep Manag J 19, 1501–1526 (2023). https://doi.org/10.1007/s11365-023-00873-2

Download citation

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s11365-023-00873-2

Keywords

Search

Navigation