Impact of the Emerging Challenges on the Landscape of Digital Entrepreneurship


  • Swapan Kumar Majumdar Faculty of Business and Accountancy, Lincoln University College, Petaling Jaya, Selangor D. E., 47301 Malaysia
  • Abhijit Ghosh Faculty of Business and Accountancy, Lincoln University College, Petaling Jaya, Selangor D. E., 47301 Malaysia



This article scans the funding trends of the startups across the globe to unearth the emerging challenges, opportunities, and emerging digital technologies and analyzes the impact of the present economic downturn on the facilitators of digital entrepreneurship and how the leadership is igniting the creative passion of digital startups to transform the current geopolitical challenges into new opportunities. The scrutiny of digital entrepreneurs’ value creation processes and the innovation landscape of digital entrepreneurship reveals that the economic downturn and geopolitical conflicts have changed the opportunities basket of digital entrepreneurship. The emerging new digital technological tools are changing the means and processes of value creation. The political leadership and startup financiers are encouraging digital entrepreneurs to pursue more robust and disruptive innovations. The landscape of digital entrepreneurship is reconfiguring to handle the emerging challenges.


Digital Entrepreneurship, Economic Downturn, Emerging Technologies, New Disruptive Technological Tools


Download data is not yet available.


A World Bank Group Flagship Report Global Economic Prospects. (2023). Available at:

Accion Opportunity Fund (n.d.). Entrepreneurial Mindset: 5 Characteristics to Cultivate. (online) Accion Opportunity Fund. Available at:

Agarwal, M. (2023). Is Profitability A Distant Dream? 55 Of India’s Most-Valued Startups Remain Loss-Making In FY22. (online) Inc42 Media. Available at:

Anon, (2023). Pidge secures $3 million in pre-Series A funding for its logistics operations | Startup Story. (online) Available at:

Arab News. (2023). Saudi startup ecosystem takes a huge leap. (online) Available at:

Bain. (2023). Global Venture Capital Outlook: The Latest Trends. (online) Available at:

Bannon, M.T. (2022). 12 Predictions For Venture Capital In 2023. (online) Forbes. Available at:

Bek, N. (2023). Pacific Northwest startup funding activity is down 80% so far this year. (online) GeekWire. Available at:

Bhide, A. (1996). The questions every entrepreneur must answer. Harvard business review, 74(6), 120.

Blank, S. (2013). Harvard business review. Why the Lean startup changes everything.

Bonazzi, F.L.Z. and Zilber, M.A. (2014). Innovation and Business Model: A case study about integration of Innovation Funnel and Business Model Canvas. Revista Brasileira de Gestão de Negócios, (online) 16, pp.616–637.

Brookings. (2022). Rebooting global cooperation is imperative to successfully navigate the multitude of shocks facing the global economy. (online) Available at:

Bureau, O. (2018). ‘Start-ups are more an engine for innovation and growth rather than job creation’. (online) Available at:

Christensen Institute (2016). Disruptive Innovations. (online) Christensen Institute. Available at:

Christensen, C.M., Raynor, M.E. and McDonald, R. (2015). What Is Disruptive Innovation? (online) Harvard Business Review. Available at:

CoffeeMug, T. (2022). Startup Investment Guide: What are the important criteria for investment in your startups? (online) CoffeeMug. Available at:

Cosgrove, E. (2022). How a recession could be a huge opportunity for ‘upstream’ startups. (online) Business Insider. Available at:

Cote, C. (2020). What Is Disruptive Innovation? | HBS Online. (online) Business Insights - Blog. Available at:

Council, Y.E. (n.d.). Council Post: How The Fourth Industrial Revolution Is Impacting The Future of Work. (online) Forbes. Available at:

Delserieys, E. (2022). How full-funnel strategies fuel success in an economic downturn. (online) Marketing Week. Available at: (n.d.). 7 startup investment criteria that will help you mitigate risk significantly | Latest | (online) Available at: (2013). Innovation Funnel, Innovation management process (IMP), Execution Methodology, Innovation Pipeline. (online) Available at:

Dickinson, K. (2021). 10 emerging technologies that will change our world. (online) Big Think. Available at:

Elia, G., Margherita, A., & Passiante, G. (2020). Digital entrepreneurship ecosystem: How digital technologies and collective intelligence are reshaping the entrepreneurial process. Technological Forecasting and Social Change, 150, 119791.

Enterprising Oxford (2022). Business Model Canvas Explained | Enterprising Oxford. (online) Available at:

Entrepreneur, E.A.-I. (2023). Venture Capital Year 2023, Predictions. (online) Available at:

February 15, B. / B. and Pm +08, 2023 14:58 (2023). Solarvest to allocate up to RM1 mil for Solarvest Innovation Lab 2023 start-up programme. (online) The Edge Markets. Available at:

Financialexpress. (2022). With the looming recession, startup funding sees a drop in 2022: Report. (online) Available at:

FinSMEs (2023). EtherMail Raises $4M in Pre-Series A Funding. (online) FinSMEs. Available at:

FinSMEs (2023). Matchday Raises $21M in Seed Funding. (online) FinSMEs. Available at:

FinSMEs (2023). trawa Raises €2.4M in Pre-Seed Funding. (online) FinSMEs. Available at:

FinSMEs (2023). Aiberry Raises $8M in Seed Funding. (online) FinSMEs. Available at:

FinSMEs (2023). Cubist Raises $7M in Seed Funding. (online) FinSMEs. Available at:

FinSMEs (2023). DexMat Raises $3M in Seed Funding. (online) FinSMEs. Available at:

FinSMEs (2023). Luru Raises $1.4M in Seed Funding. (online) FinSMEs. Available at:

FinSMEs (2023). Speedscale Raises $9M in Pre-Seed and Seed Funding. (online) FinSMEs. Available at:

FinSMEs (2023). SteadyPay Raised $3M in Seed Funding. (online) FinSMEs. Available at:

FinSMEs (2023). Tweed Raises $4M in Seed Funding. (online) FinSMEs. Available at:

Fortune. (2023). Read the pitch deck that helped cloud management startup Vantage raise $21 million. (online) Available at:

Gartner. (2023). 4 Emerging Technologies You Need to Know About. (online) Available at:

Harrison, S. (2013). Ideaspotting. Machillock Pub. ISBN-13: ‎978-0974499659

Heater, B. (2022). Remembering the startups, we lost in 2022. (online) TechCrunch. Available at:

Jeffrey H. Dyer, Hal Gregersen, and Clayton M. Christensen (n.d.). The Innovator’s DNA.

Jesemann, I. (2020). Support of startup innovation towards development of new industries. Procedia CIRP, 88, pp.3–8.

Jr, T.H. (2022). Startup funding has tanked over the past year—and recession fears are to blame. (online) CNBC. Available at:

Jr, T.H. (2023). The 3 biggest reasons startups failed in 2022, according to a poll of almost 500 founders. (online) CNBC. Available at:

Jurgens, J. (2022). How startups drive economic recovery while growing responsibly. (online) World Economic Forum. Available at:

Kadam, T. (2023). India To Spend A Whopping $100 Billion To Modernize Its Military; Looks At 100% Indigenization Of LCA Tejas. (online) Latest Asian, Middle-East, EurAsian, Indian News. Available at:

Kamps, H.J. (2023). Pitch Deck Teardown: MiO Marketplace’s $550K angel deck. (online) TechCrunch. Available at:

Kashyap, H. (2022). India Now Creating Unicorns Faster Than China. (online) Inc42 Media. Available at:

Kim, W.C. and Mauborgne, R. (2015). Blue ocean strategy: how to create uncontested market space and make the competition irrelevant. Boston, Massachusetts: Harvard Bus Review Press.

Lioudis, N. (2022). What Is the Relationship Between Oil Prices and Inflation? (online) Investopedia. Available at:

Majumdar, S. K., & BR, G. K. (2018). Lifecycle Model for Management of Digital Entrepreneurship: A Framework for Managing the Progression of Startups to Scaleup. International Journal on Recent Trends in Business and Tourism (IJRTBT), 2(4), 29-34.

Malayil, J. (2023). DOD provides a further $1.5M to develop a 3D-printed hypersonic engine. (online) Available at:

Marchant, N. (2021). This is how climate change could impact the global economy. (online) World Economic Forum. Available at:

MarketsandMarkets. (n.d.). Industry 4.0 Market Trends & Growth Drivers. (online) Available at:

Meta Plans Thousands More Layoffs as Soon as This Week. (2023). (online) 7 Mar. Available at:

O’2 Nails India raises $150K in seed round led by Real Time Angel Fund, AIC-BIMTECH. (2023). The Economic Times. (online) 28 Feb. Available at:

O’Malley, P. (2017). Value Creation and Business Success - The Systems Thinker. (online) The Systems Thinker. Available at:

Prahalad, C. K. (1993). The role of core competencies in the corporation. Research-Technology Management, 36(6), 40-47.

Qmarkets (2021). Why Your Innovation Funnel Needs an Overhaul: A Step-by-Step Guide. (online) Qmarkets. Available at:

Raju, N. (2023). Budget 2023-24: Here’s what the Startups from different segments wishing for. (online) Available at:

Riani, A. (2023). Is A Recession A Good Time To Start A New Business? (online) Forbes. Available at:

Riding The Digital Storm: How India’s Startups Are Shaping, The Post-pandemic ‘Normal’. (2021). inc42. (online) 6 Dec. Available at:

Ries, E. (2011). The Lean Startup (Portfolio Penguin). On how to experiment with new products.

Ruby, D. (2022). 106+ Startup Statistics of 2022 (The Extensive List). (online) demandsage. Available at:

Ruby, D. (2023). 107+ Startup Statistics For 2023 (Global Facts and Figures). (online) Demand Sage. Available at:

SaaS startup Houseware raises $2.1 million led by Tanglin Venture Partners. (2023). The Economic Times. (online) 9 Mar. Available at:

Sawers, P. (2023). Microservices orchestration platform Temporal raises $75M and remains a unicorn. (online) TechCrunch. Available at:

Schwab, K. (2016). The Fourth Industrial Revolution: what it means, how to respond. (online) World Economic Forum. Available at:

Sifted, 2023 Singh, A. (2023). Ashneer Grover’s Third Unicorn raises seed round. (online) mint. Available at:

Sifted. (2023). The European VCs set to raise new funds this year. (online) Available at:

Singh, M. (2023). Sequoia heats up early-stage startup investments in India and Southeast Asia. (online) TechCrunch. Available at:

Sivaramakrishnan, V. (2023). SaaS startup Growfin raises $7.5M in Series A funding led by SWC Global. (online) Available at:

Smith, M. (2022). 10 ‘recession-proof’ jobs that will be in demand even during a potential economic downturn in 2023. (online) CNBC. Available at:

Sofia Angels Ventures. (n.d.). Investment Criteria. (online) Available at:

Staff, T.G. (2023). Malaysia’s Durioo+ raises $2.85M in seed round led by Y Combinator and Gobi Partners. (online) TechNode Global. Available at:

Stokes, S. (2023). A new wave of startups are tackling financial issues within the healthcare space. Here are 14 to check out. (online) Business Insider. Available at:

Subramaniam, P., January 02, K.J. / T.E.M. and Am +08, 2023 00:00 (2023). Stepping into an uncertain 2023. (online) The Edge Markets. Available at:

The Star. (2023). Tech industry job cuts come rapidly and in big numbers. (online) Available at:

Thomson, E. (2022). Russia-Ukraine war has put Europe on energy crisis mode. Historical reliance adds to problem. (online) ThePrint. Available at:

Union Budget 2023: A path to growth for Indian Startups. (2023). The Times of India. (online) 2 Feb. Available at:

Union Budget 2023: A path to growth for Indian Startups. (2023). The Times of India. (online) 2 Feb. Available at:

Väyrynen, R. (n.d.). Is Globalization Dead and Is It a Good Thing? (online) OpenMind. Available at:

VCCircle. (n.d.). PremjiInvest leads $110-mn funding round of fintech startup Mintifi. (online) Available at:

VCCircle. (n.d.). Startups hit by winter blizzard in February as deals sink to nine-year low. (online) Available at:

VentureBeat. (2023). 10 recently-funded tech startups to watch in 2023. (online) Available at:

Wiggers, K. (2023a). Attio raises $23.5M to build a next-gen CRM platform. (online) TechCrunch. Available at:

Wiggers, K. (2023b). Behavioral marketing platform Wunderkind nabs $76M. (online) TechCrunch. Available at:

World Economic Forum. (2020). How digital entrepreneurs will help shape the world after the COVID-19 pandemic. (online) Available at:

World Economic Forum. (2023). This is how entrepreneurship will change in 2023. (online) Available at: (n.d.). 10 Emerging Technologies That Changed The World In 2022. (online) Available at: (n.d.). Union Budget 2023: Easing the Journey for Startups. (online) Available at: (n.d.). Six building blocks for creating a high-performing digital enterprise | McKinsey. (online) Available at:



How to Cite

Majumdar, S. K., & Ghosh, A. . (2023). Impact of the Emerging Challenges on the Landscape of Digital Entrepreneurship. International Journal of Management and Human Science (IJMHS), 7(2), 33-43.