Erşan Ciğerim, Tuğkan Arıcı, Mehmet Şahin Gök
Gebze Technical University, Kocaeli, Turkey

4th International Conference – ERAZ 2018 – KNOWLEDGE BASED SUSTAINABLE ECONOMIC DEVELOPMENT, Sofia- Bulgaria, June 7, 2018, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia;  Faculty of Business Studies, Mediterranean University – Podgorica, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia, ISBN 978-86-80194-12-7


Purpose – The current globalization is faced by the challenge to meet the continuously growing request for innovative products and services. Todays, global business environment faced by the development towards the fourth stage of industrialization, the so-called Industry 4.0 (Stock and Seliger, 2016). This era provides new opportunities for companies. Especially startup companies should apprehend this changing environment for long-term success. This study attempts to indicate a state of the art review of the challenges of Industry 4.0 especially for innovative entrepreneurship ecosystem.
Methodology – We conduct a meta-analysis on the innovative entrepreneurship ecosystem and specifically focus on the challenge of Industry 4.0. Moreover, face to face interviews are applied to the start-up firms.  
Findings – An overview of new opportunities of Industry 4.0 for entrepreneurship ecosystem is presented. A use case for the enhancing of start-up firms as a specific opportunity for sustainable development in Industry 4.0 will be exemplarily outlined.
Conclusion – Theoretical and practical implications are provided for innovative start-up firms

Key words

Industry 4.0, Entrepreneurship, Innovation, Globalization