Exploring the Challenges of Industry 4.0 Entrepreneurs: A Grounded Theory Approach

Abstract

This article presents a comprehensive analysis of the entrepreneurial challenges within the context of Industry 4.0, focusing on the seamless integration of transformative automation technologies such as artificial intelligence, robotics, and the Internet of Things. Utilizing Constructivist Grounded Theory, the study engaged in-depth interviews and conducted Focus Group Discussions (FGDs) involving various stakeholders, including government agencies, entrepreneurs, senior executives, industry leaders, and auditors. These stakeholders were sourced through the Malaysian Investment Development Authority (MIDA), operating under the Ministry of Investment, Trade, and Industry (MITI), which plays a pivotal role in Malaysia's economic and technological progression by fostering collaboration across different industry sectors and stakeholders. The research revealed several significant challenges faced by entrepreneurs operating within Industry 4.0, including constraints related to funding, complexities in leadership, political influences, gaps in awareness, the imperative need for change agents, and disconnections within networks. Through the meticulous transcription of interviews and subsequent coding, the study offers nuanced insights into these challenges. This article contributes to the ongoing discourse on entrepreneurship in the Industry 4.0 landscape by providing a deeper understanding of the multifaceted obstacles encountered by entrepreneurs. By shedding light on these challenges, it seeks to inform policymakers, industry leaders, and entrepreneurs themselves, facilitating informed decision-making and fostering innovative solutions to address the complexities of Industry 4.0 entrepreneurship.