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2 - Digital Entrepreneurship and Innovation

from Part I - Strategy and Management

Published online by Cambridge University Press:  16 December 2021

Vincenzo Morabito
Vincenzo Morabito
Affiliation:
Università Commerciale Luigi Bocconi, Milan
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Summary

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.

Keywords

digital entrepreneurshipdigital innovationopen innovationbusiness modelsinformation and communication technologies
Type
Chapter
Information
Digital Entrepreneurship
Management, Systems and Practice
 , pp. 28 - 50
Publisher: Cambridge University Press
Print publication year: 2022

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