Based on my current, independent study in entrepreneurship theory and practice, I’ve taken issue with the lack of a formal definition of what, exactly, an entrepreneur is. Is “the function of entrepreneurs is to reform or revolutionize the pattern of production,” as Joseph Shumpeter suggested in 1942? Perhaps we should shift our locus of attention from individual “entrepreneurs” to the entrepreneurial process, thus conceptualizing and defining entrepreneurship as a successful act of organizational founding. (see Carroll and Khessina 2005) Perhaps we should do as eighteenth century economists Richard Cantillon and Jean-Baptiste Say did and emphasize the literal translation of entrepreneur as those who “undertake” risks in starting a business or enterprise.
There are dozens of other possible, applicable definitions of what entrepreneurs do, how they do it, and the results of their doings. So, in the spirit of clarifying increasingly varied definitions of entrepreneurship qua entrepreneurship, and entrepreneurship as modified by a preceding adjective (i.e. Social Entrepreneurship or Serial Entrepreneurship) I propose a new, radical redefinition of what’s currently come to be known as “Intellectual” or “Academic Entrepreneurship”.