The Role of modern technologies on entrepreneurship dynamics across efficiency and innovation-driven countries

ENThe present research paper is focused on global trends of modern technologies (such as blockchain, mechatronics, IT, artificial intelligence, and augmented or virtual reality) that affect entrepreneurial activities in the short and long run. Research on technology’s effects on business development is gaining momentum. To examine the role of modern technologies on entrepreneurship dynamics in high-income countries, the authors conducted semi-structured qualitative interviews with 16 entrepreneurs from 4 countries (4 entrepreneurs per country, of which 8 came from countries that entered the EU in 2004 [Lithuania and Malta] and 8 from innovation-driven Canada and South Korea. We backed the conceptual matrix of modern technologies’ effects on business with the GEM data for South Korea and Canada and paired GEM countries to Lithuania and Malta (Poland and Latvia for Lithuania and Cyprus for Malta). The purpose of the research is to examine the role of modern technologies on entrepreneurship dynamics in high-income countries (in the efficiency and innovation-driven categories). The research question is how to leverage the economic and social value-added of entrepreneurship activities via modern technologies, create synergy among stakeholders, and reach business sustainability. Our methodology combines primary and secondary data analysis: The literature review and secondary GEM 2018/2019 data were supported by primary, qualitative, and semi-structured interview results with technology-driven entrepreneurship experts from four high-income countries (Lithuania, Malta, Canada, and South Korea), which backed the conceptual model created after the scientific literature review and GEM 2018/2019 data analysis.Keywords: Entrepreneurship; Modern technologies; Social value; Business sustainability; Efficiency-driven countries; Innovation-driven countries. [From the publication]