Entrepreneurship is understood as the establishment of a company for the purpose of pursuing and monetising innovative business ideas. However, researchers have no single definition for this concept. The concept was best illustrated by Austrian economist Joseph Schumpeter, who described entrepreneurs as innovators who, with new ideas, set innovation processes in motion by destroying existing structures to make room for new and better ones.
Today, researchers from many different fields shed light on the different facets of entrepreneurship, such as education and training, innovation management, SMEs, financing, sustainability, psychology and sociology. The topic of entrepreneurship therefore requires input from a very broad range of fields.