Value Creation through Hybrid Business Models in Digital Entrepreneurship

Abstract

This article examines how hybrid business models enable value creation in digital entrepreneurship and why outcomes vary across contexts. Using a systematic literature review of peer-reviewed journal articles published from 2020 to 2024, the study consolidates insights on business model design, ecosystem orchestration, and value logics. The synthesis shows that hybrid ventures create value by reducing market frictions through digital reach while anchoring trust and continuity via physical, relational, or expert components. Results also indicate that value capture depends on governance and interdependence within platforms and data ecosystems, pushing entrepreneurs to balance openness with control and scalability with operational reliability. The article discusses these patterns through a lens linking value proposition, value creation and delivery architecture, and value capture, and highlights boundary conditions related to institutional fit and capability maturity. Overall, the main finding is that value creation is a contingent outcome of coherent hybrid design aligned to ecosystem dynamics, not technology adoption alone.