Digital Entrepreneurship Twinning. How incumbent organizations watch and copy digital startup practices to survive in their industries. In-house development VS acquisition strategies case study from relevant organizations

Abstract

This dissertation is essentially a short journey into modern entrepreneurship based on bibliographic references and case studies and how it has evolved through technological developments and the digital economy. From digital applications and the Internet of Things, it has moved on to more sophisticated tools such as Artificial Intelligence and new Digital Twin applications. Although the latter has been used for many years in many sectors of construction and heavy industry, it is still a very special tool in the use of entrepreneurship. Through the current bibliographic references, we will try to present, what is a digital twin in most economic areas and how this can be applied in favor of the development of modern entrepreneurship and what challenges its future holds. In addition, we look into the study of large organizations operating systemically within the business world and could apply technologies such as those of the digital twinning and start-ups that came to breathe new life through innovation, flexibility and their explosive growth. We study through real examples the phenomenon of being copied by large companies. Our study concludes with a further analysis of modern entrepreneurship where we compare in-house strategies with acquisitions and cite some very specific examples of corporate giants and how they met the challenges of new entrepreneurship. Those three elements (digital twinning, incumbents copying startups, and acquisitions) that make entrepreneurship a fascinating field of study and analysis and making us look forward for its future development. Keywords: Economic evolution, digital innovation, digitalization, information technology, entrepreneurship, digital twins, digital twinning, start-ups, incumbents, in-house development, acquisitions.