In this conversation, Professor Hiroto Koda investigates the innovation needs of Japanese society. They include embracing digital transformation, addressing the contraction of the population, in particular outside of the Tokyo metropolitan area, and finding solutions for environmental challenges. Against this background, this chapter focuses on five issues: (i) the economic effects of the COVID-19 pandemic, accelerating regional degeneration and the delay in digital transformation, (ii) the development of new business models, (iii) the solution of social issues that arise, (iv) collaboration between industry, government, academia and financial institutions and (v) the strengthening of human resources.

The introduction offers a brief overview of the Fourth Industrial Revolution (4IR) and its implications on different sectors. It then discusses the opportunities and risks of structural transformation that will be brought on by technological innovation. Following this, the 4IR is framed as an inevitable acceleration of digitalization, resulting in market disruptions that the African continent cannot escape. After this, questions about the implications, advantages, key players, and leaders of the 4IR are discussed. This concludes with the final question of Africa’s ability to grow and develop in the 4IR. The research questions are followed by an explanation of 4IR technologies and the methodology of the book, in addition to an overview of the remaining chapters.

This chapter discusses the role of digital entrepreneurship in building start-ups and businesses that consider innovation to be a key success factor for thriving in today’s competitive market. After highlighting the difference between innovation and open innovation as well as its importance, this chapter explains how the right business model can help in establishing innovative digital entrepreneurship. It also discusses how information and communication technologies (ICTs) enable open innovation and differentiates between businesses that acquire other innovative start-ups and those that create innovation hubs in order to sustain their competitive advantage. Further, it describes the challenges that hinder innovation within digital entrepreneurship, before listing actions that need to be considered in order to meet the expectations set by the collaborators in digital innovation ecosystems. Finally, this chapter elaborates on a case study that discusses how innovation facilitated the introduction of innovative products to consumers and how this helped the business to make huge profits.

This book discussed the main trends and challenges in digital entrepreneurship while also considering specific industry case studies, especially in fintech, manufacturing and fashion. Moreover, alongside the arguments it presented, this book provided an understanding of technologies such as social media, the Internet of Things and blockchain as well as innovation as a specific attitude, all of which it identified as being integral to successful entrepreneurship. Thus, it looked at how large organizations innovate through the acquisition of start-ups and/or the creation of innovation hubs to sustain their competitive advantage in the market. The chapter also offered some final discussions as well as concluding remarks derived from the digital trends and practices analyzed in this volume.

Digital financial technologies and innovations are opening up access to financial services to the poor. This is particularly significant in Kenya, where M-PESA has changed and revolutionized the nature and structure of the financial sector. There is, however, little understanding of the underlying mechanisms influencing the rapid diffusion and adoption of financial technologies in Africa. Following the systematic path approach to examine the emergence and diffusion ofM-PESA, and analysing the functionality of M-PESA mobile money using the technology innovation system framework, this chapter contributes to the emerging literature on digital financial innovations in developing countries. The findings suggest that, despite mobile money being introduced at a time where regulatory frameworks did not exist, there has been enactment and improvement of regulations over the years. In fact, the regulatory infrastructure in the setting of Kenya has been found to have co-evolved and improved tremendously, with the co-evolution process generating alongside it useful institutional innovation and learning.