Industry 4.0 and Creative Industries: Exploring the Relationship Between Innovative Knowledge Management Practices and Performance of Innovative Startups in Italy

The chapter explores how Industry 4.0 can affect knowledge management practices and innovation processes of companies operating in the creative industry. The analysis was carried out on a sample of 179 ICT (information and communications technologies) startups by administering a questionnaire. Through a cluster analysis we identify three types of creative, intensive, innovative startups: (1) laggards, (2) regular adopters, and (3) smart adopters. The laggards are characterized by a low adoption level of 4.0 technologies and a low turnover level; the regular adopters are the most technological; the smart adopters are the most economically performing cluster. Through further multivariate statistical elaborations, we characterize the three typologies on the basis of certain attributes, such as type, foundation year, and break-even point (BEP) reach. The results suggest that the strategic objective to get a round of financing can be considered the only differentiating factor in the market of ICT startups in Italy. These results underline the importance of funding for startups to serve their business objectives. Certainly, funding acts as the major constituents that support the growth of startups. The increasing level of competition led us to consider funding essential for matching the standards of the business world.