Digital Entrepreneurship and the Evolution of Startup Ecosystems
DOI:
https://doi.org/10.64882/ijrt.v14.i2.1495Keywords:
Digital Entrepreneurship, Venture Capital, Digital Transformation, Innovation, Startup EcosystemsAbstract
Technological progress in the fields of information and communication technology, digital platforms, artificial intelligence, cloud-based technology and data analysis, digital entrepreneurship is on the verge of changing the global economy. The development of startup ecosystems has dramatically improved for entrepreneurs because it made entering the market easier, helped them innovate and provided access to global markets. In today's age, startups are part of a broader ecosystem where they interact with a variety of stakeholders, such as entrepreneurs, investors, incubators and accelerators, universities, governments and technology providers, among others, all of whom play a role in supporting and enabling innovation and business development. Startups have leveraged digital technologies to create scalable business models, enhance operational efficiency, and quickly adapt to evolving customer needs. Moreover, government policies, venture capital investments and partnerships have paved the way for the rapid development of digital businesses in different industries. But digital challenges like cybersecurity threats, regulatory complexity, digital disparities, and fierce competition persist and impact the sustainability of digital ventures. The constant development of start-up ecosystems reflects the growing significance of digital entrepreneurship for the economic development, jobs creation, technological innovation and social transformation.
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