Start-Ups as One of the Elements Triggering the Development of Industry 4.0

Bronislaw Markiewicz State Higher School of Technology and Economics, Czarnieckiego St. 16, 37-500 Jaroslaw, Poland

^* Corresponding author: ryszard.pukala@interia.pl

Abstract

The study analyses the significance of start-ups in the contemporary economy in the light of the industrial revolution – Industry 4.0. It presents the essence of the fourth industrial revolution and its main components that are aimed at creating intelligent value chains on the basis of dynamic, self-organising and self-optimising sociotechnical systems. Modern information and communication technologies that are increasingly integrated with production processes are used to this end. In this aspect, new digital client access channels are of key significance, as they allow departing from the traditional “push” model (pushing products into the market) and moving towards the “pull” model (production on demand). Start-ups play an important role as regards these relationships, since they operate in an ecosystem tailored to their needs and, as a result, they become more important in creating digital business models. These models, in turn, enable them to gain competitive advantage under volatile market conditions. Competition is an immanent feature of start-ups: operating under in an environment marked by high risk forces them to accept challenges that lead them to achieving market success and stable long-term development. The results of conducted analyses indicate that competition, treated as the main hazard for the operation and development of start-ups, depends on the developmental status of such enterprises and their market lifespan.