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What is Schumpeterian Innovation

Chapter 5
Ecosystem Dynamics and Strategies for Startups Scalability
Refers to knowledge and technologically driven economic growth process involving dynamic industrial mutations that constantly revolutionise the economic structure from within a system, incessantly destroying the old one, relentlessly creating new ones.
Published in Chapter:
Fintech as a Mechanism for Entrepreneurship Ecosystem Development in Emerging Economies
Isaac Okoth Randa (Namibia University of Science and Technology, Namibia)
Copyright: © 2024 |Pages: 24
DOI: 10.4018/979-8-3693-0527-0.ch005
Abstract
Digital finance addresses traditional financial services bottlenecks currently affecting entrepreneurship and innovation in fast-developing and liberalised economies of the world by providing context-specific innovative financial solutions useful for entrepreneurship ecosystem development. Hence, this chapter intends to descriptively analyse mechanisms through which fintech can be instrumental in lowering financial costs, increasing financial inclusivity, enhancing security and transparency, and supporting tailored financial products and services. Fintech contributes to entrepreneurship ecosystem development through a number of channels including diverse capital access, seamless digital financial access, data-driven financial insights, global connectivity and commercial facilitation, and regulatory-backed financial education and collaborative innovation.
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