THE INFORMATIONAL BASIS OF ENTREPRENEURIAL DISCOVERY

Scholars have identified four different roles played by entrepreneurs in the discovery of new venture opportunities. What each of these role s has in common is that the discovery process consists of the acquisit ion of specific, risk-reducing information. Uncertain returns from suc h investments deter some would-be entrepreneurs from making discoverie s. This approach suggests that the vision to make entrepreneurial disc overies depends on making cost-effective informational investments, no t on special talents possessed by only a few aspirants.