Industrial Guidelines for Stimulating Entrepreneurship with the Internet of Things

Abstract

Entrepreneurs are known as the engine of economic growth and prosperity. Entrepreneurs have relocated resources for the aim of introducing new economic, social, or socio-economic values. Revolutionary technologies such as the Internet of Things (IoT) have provided opportunities for entrepreneurs. The IoT is globally known as a new paradigm that rose from the world of ICT and changed dynamics of businesses and communities. However, there has been a lack of guidelines for promoting entrepreneurial initiatives by using of the IoT in industries. By conducting a comprehensive investigation of more than 120 commercialised IoT-based cases, this chapter identified 80 opportunity areas, and categorised them into the 13 main industries/sectors. Analysing 29 Iranian corporate, social, and SME entrepreneurs with the use of Analytic Hierarchy Process (AHP) technique, this chapter measured the importance of each industry. Based on the results, this chapter presents recommendations to promote entrepreneurial activities.

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