it seems you are asking how industry 4 will or can impact entrepreneurship

Thank you for your response Prof Brian Barnard , that is exactly i am looking for ( how industry 4.0 can impact entrepreneurship, and which particular areas , on which im still seeking an expert advice ). And Thank you Prof Leonidas A. Papakonstantinidis

It is a very good question. It asks how entrepreneurship can turn industry 4 into products.

To get to the application of industry 4, i would start with consultation on industry 4 (as entrepreneur). You would probably consider individual industries.

Industry 4.0 in Malaysia refers to the Malaysian government's initiative to ride on the technological and business disruptions that have emerged with the Internet of Things. An entrepreneur who wants to make the most of this emergence must be prepared to acquire knowledge and understand how and the direction business activities would be skewed towards in the coming decades. What worked yesterday may no longer work tomorrow, thus, to begin entrepreneurial work itself one needs to know what business to undertake to remain relevant in the economy and to continue operating, it is important to be able to forecast the changes that are expected to surface as the selected field evolves.

Here is a small example. About 10 years ago, stem cell theraphy moved from analogous to autonomous method - patients were initially treated using their own stemcells which were multiplied in a lab and injected back into the patient. Then the stemcells were made available as controlled drugs for teatment. A small vial contained about 1.5 million stemcells from a healthy donor and that was used for theraphy- the autonomous method. The disruption came within a few years where scientists in Israel found a way to ensure human body produced its own stem cell to treat illnesses, without the need to rely on analogous or autonomous methods.

In summary, an entrepreneur who would like to remain relevant in the economy must first select a business that is relevant to the society at that point in time and in the future. Secondly, the entrepreneur must keep himself/herself updated on the further disruptions that are likely to emerge in that line of work/technology. However, as a first step it would be good to check out the Industry 4.0 blue print to see which are the promoted areas so that one can tap into the facilities like grants and technical support after decision on type of business is made. All said and done, financing and technical know how would be the prominent determining factors of success or otherwise, of any business. As for the specific question of which area, look at the society and it's consumption pattern as a start. That would be a good indicator.

Thank you all for interesting answers.

A study by nFx shows that 70% of tech stock market valuation in U.S. since 1994 was created by companies using network-based business models. Trend will only continue in 4IR with increased production and need for data and possible traction for Blockchain.

Thank you Prof Robert for your expert view ..

From my point of view, the industry 4.0 is an enabler for any activity.

You could focus entrepreneurship from the inside of industry 4.0, developing infrastructure of IoT, Big data, Machine learning, Artificial Intelligence, and so on.

On the other hand, you could investigate regarding those technologies and their application in specific industries as banking, tourism, manufacture, etc; and apply it to buster that industries. Hope this can help. Read Silicon Golden Rush, from Karen Southwick, is an old book, but talk about the internet rush and how it was taken by the entrepreneurs.

The questions are two fold:

For entrepreneurial development focus on sharing economy

For industry 4.0 focus on smart service for sharing economy

Thank you for your views.