THE IMPACT OF TECHNOLOGY ON MODERN DAY ENTREPRENEURSHIP
Abstract
This paper discusses the transformation of digital technologies in contemporary entrepreneurship in the context of changing the ways of how opportunities are discovered, ventures are formed, and value is created. Based on a systematic review of the literature published between 1994 and 2025, the research will combine evidence in key areas of technology, such as cloud computing, mobile technologies, data platforms, artificial intelligence, blockchain, and immersive environments, and sectors, such as healthcare, knowledge-intensive industries, and sustainability-oriented ventures. The article suggests a capability-based framework where digital technologies support four fundamental entrepreneurial capabilities, namely: (1) opportunity discovery with the help of data-driven market sensing; (2) resource orchestration with the help of platforms and digital ecosystems; (3) experimentation at scale with the help of the rapid prototyping and iterative development mechanisms; and (4) trust and governance through traceability, compliance-by-design, and digital accountability mechanisms. The combination of these capabilities determines the performance of ventures, the results of innovation, and the impact on society more in general, and are pre-established within the context of institutional situations and moderated by human capital and digital skills. The review notes that the pace to market, market accessibility and productivity has continued to increase in technology-enabled ventures, though notes that a sustained limitation exists in regard to gaps in capability, issues of data governance, ethical risks, and disparities in access to digital infrastructure. The differences in sectors specifically are highly evident in healthcare, sustainability, and knowledge-based industries, where regulatory and data-related factors have a significant impact. Altogether, the article also provides an integrative perspective that connects the theory of entrepreneurship to the digital transformation as well as provides practical suggestions to entrepreneurs, educationists and policymakers by focusing on the role of capability building, responsible use of technology and designing inclusive technology ecosystem to achieve the long-term economic and social gains of digital entrepreneurship.
JEL: L26, O33, M13
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DOI: http://dx.doi.org/10.46827/ejefr.v10i1.2134
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