Inclusive Innovation and Entrepreneurship in the New Digital Era

Abstract

The intensive digitization of society has coincided with rising economic inequality across the developed economies. Missing from the standard list of policy responses to rising inequality is the role of innovation and entrepreneurship. This paper argues that new digital business models, that capture value differently and share the wealth created more broadly, will be a necessary part of addressing technology-based inequality. This in turn will require more support for inclusive innovation and entrepreneurship, which will allow novel, alternative value models to emerge, and be given a chance to compete and succeed. Using a three-part model of the main modes of performance in the digital era - datafication, algorithms, and platforms - the paper will discuss skills and intervention that might help in making digital innovation and entrepreneurship more inclusive.