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Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.

An entrepreneur (French: [ɑ̃tʁəpʁənœʁ]) is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.^[1] The process of setting up a business is known as "entrepreneurship". The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.

More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, often similar to a small business, or (per Business Dictionary) as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit".^[2] The people who create these businesses are often referred to as "entrepreneurs".^[3]^[4]

In the field of economics, the term entrepreneur is used for an entity that has the ability to translate inventions or technologies into products and services.^[5] In this sense, entrepreneurship describes activities on the part of both established firms and new businesses.

^ "Entrepreneur: What It Means to Be One and How to Get Started". Investopedia. Retrieved 25 December 2022.
^ "What is entrepreneurship? definition and meaning". Business Dictionary. Archived from the original on 16 November 2018. Retrieved 21 January 2016.
^ AK Yetisen; LR Bob Volpatti; AF Coskun; S Cho; E Kamrani; H Butt; A Khademhos\\seini; SH Yun (2015). "Entrepreneurship". Lab Chip. 15 (18): 3638–3660. doi:10.1039/c5lc00577a. ISSN 1473-0189. PMID 26245815.
^ Katila, Riitta; Chen, Eric L.; Piezunka, Henning (7 June 2012). "All the right moves: How entrepreneurial firms compete effectively" (PDF). Strategic Entrepreneurship JNL. 6 (2): 116–132. doi:10.1002/sej.1130. Retrieved 18 May 2017.
^ Audretsch, David B.; Bozeman, Barry; Combs, Kathryn L.; Feldman, Maryann; Link, Albert N.; Siegel, Donald S.; Stephan, Paula; Tassey, Gregory; Wessner, Charles (2002). "The Economics of Science and Technology". The Journal of Technology Transfer. 27 (2): 157. doi:10.1023/A:1014382532639. S2CID 143820412.