The technological revolution of the previous 20-25 years, especially the one brought about by the Internet and other telecommunication technologies, has led to the creation of general purpose technologies (GPTs) that facilitate high quality, easy-to-use and cost-effective solutions (Teece, 2018). The ensuing “democratization of innovation” has led millions of individuals across the world to turn into innovators (von Hippel, 2005). The availability of vastly affordable communication at high bandwidth – in conjunction with globalization – has set free innovational and entrepreneurial spirit that was never possible before in the memory of the humanity.
