Industrial Guidelines for Stimulating Entrepreneurship with the Internet of Things

Industrial Guidelines for Stimulating Entrepreneurship with the Internet of Things

Mohammad Zarei (University of Tehran, Iran), Ahmad Jamalian (University of Mazandaran, Iran) and Rohollah Ghasemi (University of Tehran, Iran)
Copyright: © 2017 |Pages: 20
DOI: 10.4018/978-1-5225-2104-4.ch008
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Abstract

Entrepreneurs are known as the engine of economic growth and prosperity. Entrepreneurs have relocated resources for the aim of introducing new economic, social, or socio-economic values. Revolutionary technologies such as the Internet of Things (IoT) have provided opportunities for entrepreneurs. The IoT is globally known as a new paradigm that rose from the world of ICT and changed dynamics of businesses and communities. However, there has been a lack of guidelines for promoting entrepreneurial initiatives by using of the IoT in industries. By conducting a comprehensive investigation of more than 120 commercialised IoT-based cases, this chapter identified 80 opportunity areas, and categorised them into the 13 main industries/sectors. Analysing 29 Iranian corporate, social, and SME entrepreneurs with the use of Analytic Hierarchy Process (AHP) technique, this chapter measured the importance of each industry. Based on the results, this chapter presents recommendations to promote entrepreneurial activities.
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Literature Review

Definition of the IoT

Atzori et al. (2010) discuss the very first definition of the IoT as a things oriented concept which includes Radio-Frequency IDentifications (RFIDs) tags and smart devices. Jara et al. (2011) suggest the IoT has an ability to provide a global connectivity and a management architecture of several devices. Vermesan et al. (2011) describe the IoT as an integrated part of the Future Internet with the capability of self-configuration. Xu et al. (2014) refer to the IoT as a dynamic global network infrastructure based on the protocols where virtual and physical things such as sensors and RFIDs have identities, and can be integrated in the information network. Gubbi et al. (2013) depict the IoT as an infrastructure for enabling the innovative applications by connecting devices from different platforms through a unified framework. Some components are large scale ubiquitous sensing, data analytics, and cloud computing. Wu et al. (2014) refer to the IoT as a new network paradigm and interconnected physical/virtual things with the minimum intervention of humans that pursue two main goals: 1) bridging the physical and the social world together to form an intelligent physical-cyber-social system, and 2) enabling smartness – from resource allocation to automatic network operations. Vermesan (2013) believes that, the full use of things will be attained by offering several distinguished services.

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