Entrepreneurship consists of identifying gaps in markets and developing business opportunities to bring together the necessary resources and innovation to fill these gaps, while also bearing the risks involved. Entrepreneurship requires a specific mindset that will allow the entrepreneur the willingness, ability, or capacity to seek out investment opportunities. This mindset is sometimes called an entrepreneurial spirit.

Most think of entrepreneurship in relation to startups, but the entrepreneurial spirit can be extended to include elements not related necessarily to business formation, such as conceptualizations of entrepreneurship processes that are incorporated into a strategic ecosystem. This can range from solo to major undertakings within any organization, including social ventures, non-profits, and government programs driven by innovation.

These types of entrepreneurial ecosystems help build processes based on business decisions, rather than feelings or personalities. Entrepreneurs pivot quickly based on metrics, which would help any business. These processes are the glue that holds every business together. Entrepreneurial ecosystems help identify, simplify, and document core processes.

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