Entrepreneurship
Entrepreneurship is the practice of starting new organizations, particularly new businesses. Entrepreneurship is often a difficult undertaking, as a majority of new US business fail. Yet entrepreneurship is substantially different depending on the type of organization that is being started.Many "high-profile" entrepreneurial ventures seek venture capital or angel funding in order to raise capital to build the business. The first round of funding is usually at least $200,000 but first round funding of $25 million or more is not unheard of. In exchange for this money, investors receive equity in the company. The founders of an entrepreneurial venture can expect to exchange as much as 50% of the company for the first round of investments.
In economics, the Austrian School views entrepreneurship as the driving force in economic development.
