Entrepreneurship in cyberspace: what do we know?

Abstract

Purpose – The purpose of the paper is to analyze the specififific features of entrepreneurship in cyberspace compared to basic models of entrepreneurship. Design/methodology/approach – Systemic, teleological, deontological and hermeneutic analysis, limited case studies. Findings – Conclusions are drawn on new qualities of entrepreneurship in cyberspace and a novel approach needed to study and understand it. Research limitations/implications – The paper represents work in progress and surveys a rapidly developing field. Case studies mentioned in the paper are limited with respect to the scope of the paper and are only instrumental for illustrating different aspects of entrepreneurship in cyberspace. Practical implications – The paper presents the theoretical framework for further study of the entrepreneurship in cyberspace, as well as basic material for classroom use. Further research of the entrepreneurship in cyberspace as a distinct social phenomenon is envisaged. Originality/Value – Over the last two decades ICTs, and especially cyberspace technologies, have significantly modified the start of new businesses and entrepreneurial processes. Although not dependent on technological breakthroughs, the cyberspace has multiple direct effects on new products and services, which are at the focus of this article. Direct and indirect effects of cyberspace on the start of the businesses are analyzed, along with the advanced transformation business models in cyberspace and novel value creation approach. The paper is among the first studies of entrepreneurship in cyberspace as a distinct social phenomenon. No similar studies have been undertaken in the Baltics before, while the US and European management studies have been limited to specific case studies, without presenting a general theoretical framework.