Definition of an Entrepreneur

To enhance learning and discussion, an Entrepreneurship Summit needs a definition of an entrepreneur.

I asked Jim Flowers, Executive Director of VT KnowledgeWorks for that definition, and he kindly answered:

In general terms, an entrepreneur may be defined as an independent participant in the marketplace, taking personal responsibility for his or her own financial survival and well-being.  More specifically, a “true” or “complete” entrepreneur is someone who conceives, organizes, and leads a new, independent commercial venture at significant personal cost and risk, both financial and emotional.  It is not someone who does only part of that set of jobs.  So, for example, someone who opens a new coffee shop, or buys a car wash franchise, while definitely a risk-taker,  is not a “complete” entrepreneur, since he or she does not conceive or fully organize the venture.  The same can be said of an inventor who licenses an invention to someone else who then exploits it for their mutual gain. 
Simply put, if you dream up a business, put it together, run it, and depend on it financially, you are an entrepreneur.


VT KnowledgeWorks, a regional business acceleration center that helps companies bring ideas to market, is excited to present the Second Annual Entrepreneurship Summit on April 7-8, 2010 at the Inn at Virginia Tech & Skelton Conference Center in Blacksburg, Virginia. This two-day comprehensive workshop is ideal for prospective company founders, entrepreneurs launching or re-vamping a business, growing companies seeking expansion capital, and individuals interested in investing in early-stage companies.

If you’ve ever wanted to start a business, here’s your chance to test your business concept and win a chance to accelerate your business free at VT KnowledgeWorks!  In conjunction with the Entrepreneurship Summit, a Business Concept Competition is open to all technology entrepreneurs in Virginia and western North Carolina to pitch their business concepts in front of an audience and panel of 150 business professionals.  
The winning team gets its business accelerated at VT KnowledgeWorks, including:
– Admission to Founders’ Readiness Retreat
– Pre-Launch Strategic Package
– Virtual Residency
– One-year membership in Presidents’ Council
Individuals or teams of up to three people must register by filling out an Intent to Compete form online by February 5, 2010.  The cost to apply is $50.
More details regarding the guidelines and deadlines for the Open Business Concept Competition.  
More information about the Entrepreneurship Summit.

We look forward to seeing you in April!

Lindsey Eversole, Member Services Manager
VT KnowledgeWorks
[email protected]
540-443-9100 x2

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VT KnowledgeWorks is a unique growth enhancement program open to entrepreneurs in the New River Valley of Virginia and beyond.  Acceleration center and incubation facilities are located in the Virginia Tech Corporate Research Center in Blacksburg, Virginia

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Latimer, Mayberry & Matthews IP Law, LeClairRyan, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

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