The Entrepreneurial Economy in the Digital Age: Pathways to Innovation and Economic Growth
DOI:
https://doi.org/10.54518/ibr.2.1.2024.1243Keywords:
Digital Entrepreneurship, Economic Growth, Entrepreneurial Ecosystems, Innovation, Opportunity Recognition, Value CreationAbstract
Entrepreneurship plays an important role in promoting innovation, value creation, and economic growth within increasingly digitalized economies. The expansion of digital technologies has transformed entrepreneurial activity by enabling new forms of opportunity recognition, venture creation, and market participation. This study examines the entrepreneurial economy in the digital age through a qualitative Systematic Literature Review (SLR) guided by the PRISMA 2020 framework. Literature published between 2019 and 2024 was collected from major academic databases and analyzed using thematic synthesis. The findings indicate that digital technologies strengthen entrepreneurial activity by supporting entrepreneurial ecosystems, facilitating venture development, and expanding access to market opportunities. The review further reveals that entrepreneurship contributes to economic growth through innovation, value creation, and business formation. However, entrepreneurial outcomes remain influenced by ecosystem quality, institutional conditions, and access to digital resources. The study concludes that entrepreneurship functions as a critical mechanism connecting innovation with economic growth within contemporary digitally enabled economies.
References
Asante, E. A., & Affum-Osei, E. (2019). Entrepreneurship as a career choice: The impact of locus of control on aspiring entrepreneurs' opportunity recognition. Journal of Business Research, 98, 227–235.
Carayannis, E. G., Dagnino, G. B., Alvarez, S., & Faraci, R. (Eds.). (2018). Entrepreneurial ecosystems and the diffusion of startups. Edward Elgar Publishing.
Cutolo, D., & Kenney, M. (2021). Platform-dependent entrepreneurs: Power asymmetries, risks, and strategies in the platform economy. Academy of Management Perspectives, 35(4), 584–605.
Fernandes, A. J., & Ferreira, J. J. (2022). Entrepreneurial ecosystems and networks: A literature review and research agenda. Review of Managerial Science, 16(1), 189–247.
Greco, F. (2023). Startup ecosystems. Studies on Entrepreneurship, Structural Change and Industrial Dynamics. Springer.
Kraus, S., Palmer, C., Kailer, N., Kallinger, F. L., & Spitzer, J. (2019). Digital entrepreneurship: A research agenda on new business models for the twenty-first century. International Journal of Entrepreneurial Behavior & Research, 25(2), 353–375.
Lamine, W., Fayolle, A., Jack, S., & Audretsch, D. (2023). Impact of digital technologies on entrepreneurship: Taking stock and looking forward. Technovation, 126, 102823.
Landström, H., Åström, F., & Harirchi, G. (2015). Innovation and entrepreneurship studies: One or two fields of research?. International Entrepreneurship and Management Journal, 11(3), 493–509.
Lehmann, J., Recker, J., Yoo, Y., & Rosenkranz, C. (2022). Designing digital market offerings: How digital ventures navigate the tension between generative digital technology and the current environment. MIS Quarterly, 46(3), 1453–1482.
Linnenluecke, M. K., Marrone, M., & Singh, A. K. (2020). Conducting systematic literature reviews and bibliometric analyses. Australian Journal of Management, 45(2), 175–194.
Lounsbury, M., Cornelissen, J., Granqvist, N., & Grodal, S. (2021). Culture, innovation and entrepreneurship. In Culture, Innovation and Entrepreneurship (pp. 1–12). Routledge.
Mohammadi, N., & Heshmati, S. (2021). Entrepreneurial opportunity recognition: A bibliometric overview and clustering analysis. World Journal of Science, Technology and Sustainable Development, 18(3), 239–258.
Munyo, I., & Veiga, L. (2024). Entrepreneurship and economic growth. Journal of the Knowledge Economy, 15(1), 319–336.
Page, M. J., McKenzie, J. E., Bossuyt, P. M., Boutron, I., Hoffmann, T. C., Mulrow, C. D., et al. (2021). The PRISMA 2020 statement: An updated guideline for reporting systematic reviews. BMJ, 372.
Pinelli, M., Lechner, C., Kraus, S., & Liguori, E. (2022). Entrepreneurial value creation: Conceptualizing an exchange-based view of entrepreneurship. Journal of Small Business and Enterprise Development, 29(2), 261–278.
Simatupang, T. M., Schwab, A., & Lantu, D. (2015). Introduction: Building sustainable entrepreneurship ecosystems. International Journal of Entrepreneurship and Small Business, 26(4), 389–398.
Sitaridis, I., & Kitsios, F. (2024). Digital entrepreneurship and entrepreneurship education: A review of the literature. International Journal of Entrepreneurial Behavior & Research, 30(2–3), 277–304.
Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333–339.
Song, A. K. (2019). The digital entrepreneurial ecosystem—A critique and reconfiguration. Small Business Economics, 53(3), 569–590.
Stam, E., & Van Stel, A. (2011). Types of entrepreneurship and economic growth. In Entrepreneurship, Innovation, and Economic Development (pp. 78–95).
Sussan, F., & Acs, Z. J. (2017). The digital entrepreneurial ecosystem. Small Business Economics, 49(1), 55–73.
Urbano, D., Aparicio, S., & Audretsch, D. (2019). Twenty-five years of research on institutions, entrepreneurship, and economic growth: What has been learned?. Small Business Economics, 53(1), 21–49.
Urbano, D., Aparicio, S., & Audretsch, D. B. (2019). Institutions, entrepreneurship, and economic performance. Springer International Publishing.
Yu, S., & Sekiguchi, T. (2024). Platform-dependent entrepreneurship: A systematic review. Administrative Sciences, 14(12), 326.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Alifia Nur Aini
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
