Opportunities for Halal Entrepreneurs in the Islamic Digital Economy: Future and Trends from a Cultural Entrepreneurship Perspective

Abstract

The impact of digital transformation on the shape of business operations around the world cannot be understated. Yet, the Islamic digital economy era remains in its infancy, and the challenges that it faces are still left unanswered. Nonetheless, Halal entrepreneurs are presented with significant innovative opportunities related to the digital economy. Halal entrepreneurship is an important subject of business research since culture and religion play a significant role in creating business relationships. Cultural entrepreneurship has become a means to use culture and arts for bringing a societal change. This chapter identifies some new opportunities in the digital economy that can be exploited by Halal entrepreneurs. These ventures include the internet of things (IoT), three-dimensional (3D) printing, cloud computing, automation, robotics and artificial intelligence, data analytics, digital platforms, and blockchain technologies. This chapter contributes theoretically and practically to Halal entrepreneurship and the Islamic digital economy. The opportunities identified in this chapter can help Halal entrepreneurs and policy makers to launch products and services and policies to propel the growth of the Islamic digital economy.