Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities.
Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail.
Entrepreneurial activities are substantially different depending on the type of organization that is being started.
Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities.
Many "high-profile" entrepreneurial ventures seek venture capital or angel funding in order to raise capital to build the business.
Angel investors generally seek returns of 20-30% and more extensive involvement in the business.
Many kinds of organizations now exist to support would-be entrepreneurs, including specialized government agencies, business incubators, science parks, and some NGOs.
Entrepreneurs have many of the same character traits as leaders. Similarly to the early great man theories of leadership; however trait-based theories of entrepreneurship are increasingly being called into question.
Entrepreneurs are often contrasted with managers and administrators who are said to be more methodical and less prone to risk-taking.
Such person-centric models of entrepreneurship have shown to be of questionable validity, not least as many real-life entrepreneurs operate in teams rather than as single individuals.
Career perspectives in Entrepreneurship
Every year several students and alumni realise their entrepreneurial dreams by starting their own ventures. Examples of these ventures are: Senz Umbrellas, Yoursurprise.com and NewCompliance.com. These alumni of EUR did not apply for a job, they created their own.
