Entrepreneurship in Cyberspace: What Do We Know?

Abstract

The paper provides an overview of specific features of entrepreneurship in cyberspace, compared to basic models of entrepreneurship. 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, as well as ways to conduct business. Direct and indirect effects of cyberspace on the start of the businesses are surveyed, along with the transformation business models in cyberspace and novel value creation approach. Conclusions are drawn on new qualities of entrepreneurship in cyberspace and novel approach needed to study and understand it. The paper represents work in progress in 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.The paper may serve as the basic framework for further study of the entrepreneurship in cyberspace, as well as basic material for classroom discussion. Further research of the entrepreneurship in cyberspace as a distinct social phenomenon is envisaged.