Blockchain technology, originally the basis of the Bitcoin cryptocurrency, has received great attention from both academics and practitioners in the last decade. The consequent rise of interest in blockchain applications by different industries as well as public sector organizations has been complemented by questions and research on the impact of blockchain on organizations’ business models. Blockchain is also considered a source of innovation opportunities and challenges for entrepreneurs. Therefore, this chapter explores its potential for digital entrepreneurs, by first introducing the main elements making up the technology and then discussing eight companies that apply blockchain in different sectors, thus providing insights for new ventures. The chapter aims to give an essential understanding of blockchain’s advantages for digital entrepreneurs as well as insights that could inspire potential future applications of this technology for value creation and innovation in different sectors.

The role of this chapter is to introduce the reader to the digital entrepreneurial world where businesses exploit modern technologies in order to gain a strategic advantage over their competitors when entering the market. By distinguishing among the different types of online business – SMEs, start-ups or spin-offs – this chapter introduces the concept of open innovation that lies at the heart of every digital entrepreneur. Furthermore, this chapter delineates the series of steps that an entrepreneur should understand and follow to successfully establish an online business and outlines the risks and challenges to be aware of along the entrepreneurial journey. The last section of this chapter features two digital start-up success stories that leveraged the dynamics of digital technologies and achieved great growth rates as well as high revenues.

Digital entrepreneurs create digital businesses through digital media funnels such as web applications, social media, mobile SMS and emails, providing digital products and services. Nowadays, it is relatively seamless for digital entrepreneurs to adopt the diverse digital tools and techniques in developing their products and services. Moreover, the avalanche that is the current digital era is changing the processes for many existing business models, in the financial sector, the health sector and many more. As a result of these changes, digital entrepreneurs are faced with new challenges and exposed to unprecedented risks. This chapter discusses the challenges faced by digital entrepreneurs and start-ups within business sectors such as fintech, insurtech, retailtech, biotech, healthtech and fashiontech. In addition, two case studies that demonstrate the existing challenges are highlighted with their corresponding focus points. The chapter concludes with a summary of the key points addressed and a few recommendations for digital entrepreneurs.

The present chapter offers an analysis of the role that digital marketing plays today in helping digital businesses reach their goals. It delineates the types of digital media that a company can harness in order to promote its products and services, and distinguishes among paid, owned and earned media. Furthermore, the chapter emphasizes the critical role of the digital marketing strategy and highlights the benefits and challenges associated with the various digital marketing tools and tactics available today, explaining the importance of selecting and implementing the most effective as well as the most prominent. Moreover, the chapter discusses how the performance and results of the different elements of a digital strategy can be tracked and measured in order to provide valuable data and insight into profitability and revenues. The last section of the chapter presents a case study of a start-up in the educational sector, depicting how strategic marketing decisions can affect the overall success of a company. This section aims to offer valuable advice and recommendations to entrepreneurs, start-ups and investors of every industry.

This chapter discusses the role of digital entrepreneurship in building start-ups and businesses that consider innovation to be a key success factor for thriving in today’s competitive market. After highlighting the difference between innovation and open innovation as well as its importance, this chapter explains how the right business model can help in establishing innovative digital entrepreneurship. It also discusses how information and communication technologies (ICTs) enable open innovation and differentiates between businesses that acquire other innovative start-ups and those that create innovation hubs in order to sustain their competitive advantage. Further, it describes the challenges that hinder innovation within digital entrepreneurship, before listing actions that need to be considered in order to meet the expectations set by the collaborators in digital innovation ecosystems. Finally, this chapter elaborates on a case study that discusses how innovation facilitated the introduction of innovative products to consumers and how this helped the business to make huge profits.

Digital entrepreneurship refers to the means or methods of creating fresh and innovative businesses, products or commodities as well as services that are enabled, permitted and provided via the Internet. Social media also refers to the mode by which people interact through the exchange of ideas and information in virtual networks. There are plenty of social media platforms in existence today; amongst the most popular are Facebook, Twitter, YouTube, Instagram and WhatsApp. The use of social media platforms for digital entrepreneurship can create opportunities like working remotely, on-the-go and at any time in the world. This chapter offers an insight into social media, its advantages on digital entrepreneurship as well as the potential future of social media for digital entrepreneurship.

This book discussed the main trends and challenges in digital entrepreneurship while also considering specific industry case studies, especially in fintech, manufacturing and fashion. Moreover, alongside the arguments it presented, this book provided an understanding of technologies such as social media, the Internet of Things and blockchain as well as innovation as a specific attitude, all of which it identified as being integral to successful entrepreneurship. Thus, it looked at how large organizations innovate through the acquisition of start-ups and/or the creation of innovation hubs to sustain their competitive advantage in the market. The chapter also offered some final discussions as well as concluding remarks derived from the digital trends and practices analyzed in this volume.

The Internet of Things (IoT) plays a vital role in the implementation and success of digital entrepreneurship. The IoT refers to the interconnection of smart devices, physical devices, buildings as well as other objects and devices that have inherent software, electronics, actuators, network connectivity and sensors that make it possible for these objects and devices to exchange and collect data. The use of the IoT for entrepreneurship can bring about a level playing field in various sectors of the economy in which opportunities such as working remotely at any time and on-the-go are created. This chapter gives a clear understanding of the IoT, its advantages for digital entrepreneurship as well as its potential future.

This chapter discusses how effective entrepreneurial education can help in developing students’ skills to enable them to become successful entrepreneurs. It first sheds light on the main skills and abilities that any entrepreneur needs in order to establish, run and maintain a prosperous start-up with long-term success. Then it describes the journey to becoming an entrepreneur, from spotting a problem-based opportunity to building a successful and sustainable start-up. Next, it explains the entrepreneurial education process and its importance for economic growth and sustainability. Based on that, the next sections elaborate on the main success factors of any entrepreneurial educational program, and what e-leadership skills are required by the different groups of stakeholders concerned with the innovation process. The chapter lists some of the main challenges that face the creation of entrepreneurial education courses and discusses some best practices that can help tackle these challenges. Furthermore, this chapter elaborates on a case study of well-planned entrepreneurial education based on successful and mutually beneficial collaboration with industry.

The fashion industry is going through swift digital transformation while reducing the barriers to entry. Fashion is not only changing at a fast pace but reaching a wide range of people globally through the advent of mobile phones, social media and the Internet. The digitization of the fashion industry has made a significant impact on how we collect product information, find the best deals and make purchases, especially in the retail sector. Through the use of virtual robots, interactive mirrors, e-retail shops and social networking sites, consumers now have more autonomy without depending on store personnel for price and product guidance. Moreover, advances in 3D models by luxury fashion brands are proof of the level of technological sophistication that fashion organizations are willing to adapt to satisfy the growing and varying desires of their customers. This chapter addresses the impact of digitization on the fashion industry as well as its effects on consumer behavior. In addition, the innovative facets of fashion are discussed with real-world case studies from three fashion brands: Ermenegildo Zegna, Smithfield Case and Uniqlo.

This chapter discusses the world of financial technology, or fintech, which can be defined as the intersection of financial services and digital technologies. The fintech ecosystem involves a wide range of players that together have transformed the financial services industry, embraced and stimulated innovation and continuously improved customer experience. This chapter provides an in-depth macro analysis of the global fintech industry, describing the current status of the market as well as highlighting current and future trends for the sector. Further, the chapter discusses the impact of digitalization on fintech firms by delineating the opportunities as well as the challenges that it has brought. The last section of the chapter includes two fintech cases studies belonging to the currently “hottest” sub-segments of the sector, namely, “insurtech” and “realtech,” in each case highlighting the main characteristics of the application or platform, presenting the founding team and describing the main company competitiveness indicators for time-to-market as well as user value.

Manufacturing is defined as the process of transforming raw materials, parts or components into finished goods or products for sale to customers whose expectations or requirements the goods or products meet. Employment of labor (man) and machinery, as the case may be, is vital in manufacturing. Macro analysis refers to how the economic activities of existing firms and government economic policies can affect the overall output, price levels and employment and growth rates of an economy. These models and experiential pieces of information also help to clarify how to maintain both internal and external economic stability in the short run. Economists are hugely interested in the factors that play a role in the economic growth of a country, as these can bring about more job opportunities and make goods and services more affordable, thereby raising people’s standard of living in that country. This chapter gives a thorough insight into the macro analysis of manufacturing industries and how important digitalization is to their improvement, in part by discussing two case studies.