2

The rising tide of entrepreneurship

Introduction

In the entrepreneurial economy that has been becoming more popular since the 1980s, there is a revival of the Schumpeterian notion of the entrepreneur exploring new areas of growth at the heart of the economic process. Spearheaded by the pervasive influence of the political and economic neoliberal paradigm since the Ronald Reagan and Margaret Thatcher regimes in the 1980s, it develops because of the growing importance of the service sector and the shift of competitive advantage towards knowledge-driven industries. Industrial policies have undergone significant changes over the last three decades, during which venture businesses have been recognized as key drivers of innovation and growth in ...

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