Digital Entrepreneurship in the Fourth Industrial Revolution and Beyond

Abstract

The nature of the confusion that underpins entrepreneurial processes and outcomes and the strategies for addressing it have been changed due to the Fourth Industrial Revolution brought about by the development of digital technologies. Technology is the main force behind digital entrepreneurship. The Fourth Industrial Revolution’s technological development is both a limitation and a turning point for digital entrepreneurship. Most importantly, it has been assumed that the Fourth Industrial Revolution will provide additional drivers for the future of digital entrepreneurship. The purpose of this chapter was to compile the most recent research on digital entrepreneurship, investigate how the Fourth Industrial Revolution’s digital transformation has affected this field, and explore how the COVID-19 pandemic has affected it. The study conducted an evidence-based literature review on digital entrepreneurship, using a qualitative analysis method and content analysis. The research found that digital businesses were unaffected by Covid-19 due to their familiarity with digital methods and business models. Covid-19 benefited digital entrepreneurs by allowing them to pivot to new markets and segments quickly. However, it also threatened their survival due to disruptions in their business model and supply chain. The study suggests that digital entrepreneurship in the Fourth Industrial Revolution is promising to continue.