Digital Innovation and Entrepreneurship: A Review of Challenges in Competitive Markets

Amrita Chaurasia, Assistant Professor; Mona Tawar, Former Professor & Director; Simnalika Kushwaha, Assistant Professor

doi:10.21844/smsjei.v12i01.30006

Amrita Chaurasia, Assistant Professor School of Commerce, Finance and Accountancy, Christ (Deemed to be University), Delhi
Mona Tawar, Former Professor & Director Pioneer Institute of Professional Studies, Indore, Madhya Pradesh
Simnalika Kushwaha, Assistant Professor Prestige Institute of Management and Research, Indore, Madhya Pradesh

DOI: https://doi.org/10.21844/smsjei.v12i01.30006

Keywords: Bibliometric, Digital Innovation, Entrepreneurship, Innovation, Retail

Abstract

The entrepreneurial landscape has undergone a fundamental transformation due to the swift spread of digital
technologies, which have brought up both complicated obstacles & new opportunities in highly competitive
marketplaces. In order to map the changing nexus of digital innovation & entrepreneurship, this extensive
study uses a mixed-methods approach that combines systematic literature review procedures with
bibliometric analysis of more than 2,000 publications (2015–2025) from Web of Science, Scopus, & Google
Scholar. Three main research clusters are identified by our analysis: 1. Technology-driven Business Model
Innovation (such as AI, blockchain, & IoT); 2. Digital Entrepreneurial Ecosystems; 3. Digital Ventures
Focused on Sustainability.
The study offers a new conceptual framework for categorizing digital entrepreneurship along two
dimensions: ecosystem embeddedness (platform-dependent vs. standalone) & innovation radicality
(incremental vs. disruptive). Our results cast doubt on accepted theories by demonstrating how generative
AI & algorithmic decision-making are revolutionizing opportunity recognition procedures.
The report provides evidence-based policy suggestions for encouraging inclusive digital entrepreneurship.
By combining the perspectives of complexity theory, dynamic capacities, resource-based view, it
theoretically expands the conversation.