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Industry 4.0 entrepreneurship: essential characteristics and necessary skills

  • Context: The manufacturing industry is facing a transformation with regard to Industry 4.0 (I4). A transformation towards full automation of production including a multitude of innovations is necessary. Startups and entrepreneurial processes can support such a transformation as has been shown in other industries. However, I4 has some specifics, so it is unclear how entrepreneurship can be adapted in I4. Understanding these specifics is important to develop suitable training programs for I4 startups and to accelerate the transformation. Objective: This study identifies and outlines the essential characteristics and constraints of entrepreneurial processes in I4. Method: 14 semi-structured interviews were conducted with experts in the field of I4 entrepreneurship. The interviews were analysed and categorized by qualitative analyses. Results: The interviews revealed several characteristics of I4 that have a significant impact on the various phases of the entrepreneurial process. Examples of such specifics include the difficult access to customers, the necessary deep understanding of the customer and the domain, the difficulty of testing risky assumptions, and the complex development and productization of solutions. The complexity of hardware and software components, cost structures, and necessary customer-specific customizations affect the scalability of I4 startups. These essential characteristics also require specialised skills and resources from I4 startups.

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Metadaten
Author of HS ReutlingenMünch, Jürgen; Wahl, Dario
DOI:https://doi.org/10.1109/ICE/ITMC52061.2021.9570258
ISBN:978-1-6654-4963-2
ISSN:2693-8855
Erschienen in:2021 IEEE International Conference on Engineering, Technology and Innovation (ICE/ITMC), 21-23 June 2021, virtual, proceedings
Publisher:IEEE
Place of publication:Piscataway, NJ
Document Type:Conference proceeding
Language:English
Publication year:2021
Tag:Industry 4.0; economic growth; entrepreneurship; entrepreneurship education; fourth industrial revolution; innovation; skill development; startups
Page Number:8
DDC classes:600 Technik
Open access?:Nein
Licence (German):License Logo  In Copyright - Urheberrechtlich geschützt