Abstract

As the real and the virtual worlds are converging and Big Data is flooding everywhere in society, science, and business, new opportunities appear on the radar screen of active and would-be entrepreneurs. Agile ventures may disrupt existing markets and can create new ones. Thanks to sensors, unlimited computing capacities, clever algorithms, machine intelligence and many other technical tools, smart systems are built everywhere. A new entrepreneurial space is emerging where business opportunities can be identified and described by the help of an activity-sector matrix. The logic of this framework is explained in this study, practical examples demonstrate how the “smart ecosystem” is evolving, and how small and mediumsized companies compete in that arena. Special attention is paid to agriculture, a sector in the early phase of its digital transition. Farmers, small and large agricultural ventures must learn how to build and manage smart systems, how to acquire and harness digital capabilities, and how to collaborate and compete in the new environment. Business organizations, large incumbents and young ventures, government agencies, research centers and other stakeholders must develop strategies for succeeding in the new digital and data-rich world, must take care of their digital capabilities, and last but not least, have to demonstrate strong leadership in planning and execution.