Evolution of the start-up ecosystem traditional to tech-driven industries
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Date
2024
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Publisher
IGI Global
Abstract
In recent years, the start-up ecosystem has shifted from traditional industries to a tech-driven one. This
change is driven by technological advancements, evolving consumer behavior, and a thirst for innovation.
Tech startups leverage digital tools, AI, and the internet to disrupt traditional sectors. They benefit from
easier market entry, quicker prototyping, and global reach. Increased venture capital, angel investors,
and crowdfunding support their growth. Collaboration in tech hubs like Silicon Valley fosters knowledge
sharing and innovation. Established companies are partnering with tech startups to integrate innovation.
This transformation democratizes entrepreneurship, enhances funding, and promotes innovation, with
more changes expected in the future
Description
This chapter seeks to provide insights into the factors propelling the transition from traditional in dustries to a landscape dominated by innovative, technology-driven start-ups (Patuzzi, 2019). It goes
beyond mere chronology, exploring challenges, disruptions, and collaborative endeavours that defined
each phase of this evolutionary process (Dhakal, 2020). The objective is not just to recount historical
events but to distil the essence of entrepreneurship’s evolution, drawing connections between the past
and the present (Dhakal, 2020).
Furthermore, the chapter aspires to offer a roadmap for entrepreneurs, policymakers, and business
enthusiasts by shedding light on pivotal moments and paradigm shifts shaping the entrepreneurial land scape. Through a nuanced understanding of the past, the goal is to inform strategic decision-making,
inspire future innovation, and contribute to the ongoing dialogue on the role of entrepreneurship in
shaping societies
Keywords
Start-up ecosystem, Traditional industries, Consumer behavior, Innovation, Entrepreneurship, Namibia