Entrepreneurial Innovation Research Articles

Understanding the impact of human capital on radical and incremental innovation: the role of entrepreneurial passion and alertness

PurposeThe present study sought to comprehend the impact of human capital on radical and incremental innovation, with a focus on examining the mediating effects of entrepreneurial passion and entrepreneurial alertness.Design/methodology/approachThe study employed a purposive sampling technique for collecting data from entrepreneurs in from different sectors of Pakistan. A sample of 382 entrepreneurs completed the survey. Data were analyzed using SPSS and AMOS. Reliability, discriminant, and convergent validity tests were conducted, and structural equation modeling was used to test the hypotheses.FindingsIt was revealed that human capital has a significant impact on radical and incremental innovation. Furthermore, entrepreneurial passion and alertness significantly mediates the relationship between human capital and innovation.Originality/valueThe study contributes to the emerging research on innovation in entrepreneurship. There is limited research on types of innovation and entrepreneurial alertness in Pakistan; therefore, the study adds value to the scarce empirical research on innovation and entrepreneurial alertness and passion.

Innovation and Organisational Resilience among Small and Medium-Sized Enterprises in Lagos State

The study conducted a comprehensive examination to assess the impact of entrepreneurial innovativeness on organisational resilience within the Small and Medium-Sized Enterprises (SMEs) sector in Lagos State, Nigeria. In today's fiercely competitive business environment, it is imperative for startups and SMEs to consistently foster innovation as a core component of their operational strategy. This research employed a descriptive research design and gathered data from a sample of 500 business owners representing various SMEs sectors. The primary data collection tool was a self-structured questionnaire. The study's findings revealed a significant and positive correlation between entrepreneurial innovativeness within business organisations and their corresponding levels of organisational resilience. This correlation underscores the pivotal role that innovation plays in determining an organisation’s ability to withstand and navigate through challenging and turbulent conditions, especially in the context of SMEs in Lagos State. In light of these findings, the study puts forth valuable recommendations for business owners, particularly those at the startup stage. It strongly advises that businesses, regardless of their size, should consistently integrate innovation into their product development, operational processes, and overall organisational culture. By doing so, businesses can not only survive but also make a lasting impact in the highly dynamic and competitive business environment of Lagos State. This proactive approach to innovation is essential for long-term sustainability and success.

Cooking Up Prosperity: Pop-Up Restaurants, Innovation, and Lifestyle Entrepreneurship

Entrepreneurship is central to diversifying and enhancing the competitiveness of tourism offerings. The current literature underscores a critical oversight in nurturing entrepreneurship for tourism innovation and urges further exploration of entrepreneurial motivations in tourism start-ups. This is particularly relevant because the tourism sector heavily relies on new ventures to drive innovation, as established firms often struggle to meet the growing demand for distinctive and unique travel experiences. This study examines the entrepreneurial journey and innovation process within the tourism scene. Through comprehensive desk research and an in-depth entrepreneur interview, we aim to deepen our insights into the motivations driving entrepreneurs and the innovation processes behind their tourism products and services. Specifically, our research focuses on pop-up restaurants, illuminating their embodiment of innovation and lifestyle entrepreneurship. The findings reveal that a sense of freedom, creativity, and the pursuit of uniqueness stand out as key motivational factors of establishing pop-up restaurants. These motivations extend into a continuous business innovation cycle, as the drive to enhance and offer novel experiences remains paramount. This study elucidates the uncharted territory of tourism entrepreneurship and offers valuable insights into the driving forces and innovative dynamics within this evolving market.

Resilience Amidst Adversity: A Qualitative Exploration of Black Entrepreneurs in South Metro Atlanta

In this qualitative study, we explore the resilience and innovation of Black entrepreneurs in South Metro Atlanta amidst systemic financial constraints and racial discrimination. Our investigation reveals not only the obstacles these business owners face but also their strategic responses to such challenges, especially during the tumultuous times of the COVID-19 pandemic. Highlighting the indispensable role of community support and the necessity for inclusive policies, our findings offer actionable insights for fostering an environment where African American businesses can thrive. This study serves as a roadmap for policymakers, stakeholders, and scholars to understand and support the dynamic landscape of Black entrepreneurship.

Exploring the Application of Entrepreneurial Innovation in Selected Food Processing (Dairy) and Manufacturing Firms in Lusaka

The growing population and urbanization increase food demand, but many local processors struggle with quality, affordability, and safety due to knowledge and investment gaps. The study purposed to investigate the extent of the application of entrepreneurial innovations in the food processing and manufacturing targeted firms in Lusaka from the year 2017 to 2021. The study was guided by three specific objectives which were: to establish the extent of application of entrepreneurial innovations in the food processing and manufacturing in targeted firms in Lusaka; to analyse the contribution of entrepreneurial innovations to the food processing and manufacturing industry from 2017 to 2021, and to assess the performance of the food processing and manufacturing industry in Zambia for the period under review with regard to application of entrepreneurial innovation. Three dairy processing industries in the Lusaka district were studied, focusing on their production of customer-centric solutions while adhering to food safety and quality standards. The study employed a descriptive research design to achieve the set objectives. Two sampling techniques were used: convenience sampling for selecting dairy food industries and snowball sampling for individuals with in-depth information on the thematic subject matter. The study used an interview guide to collect the required data from the ten overall interviewees and five key informants participated in semi-structured interviews. The interviews covered key themes like knowledge utilization, collaboration, innovation realization, triggers and outcomes, important decisions, and challenges. Data analysis was conducted using NVivo (version 12.2), and operational definitions of codes were developed. The findings showed that the two types of innovative entrepreneurship; product and market innovation were being applied in Zambia's diary food manufacturing industry though product innovation had a minimal effect on dairy manufacturing firms. Analysed in terms of the conduct of their businesses, entrepreneurial innovations to the food processing and manufacturing industry makes valuable contributions to the GDP by creating jobs, achieving economic development, reducing inequalities, and plays a crucial role in fostering economic transformation. With regard to the performance of the food processing and manufacturing industry, the study noted that the dairy manufacturing industry, which plays a significant role in economic development, could use entrepreneurial innovations as a tactical option to improve its competitiveness, survival, and growth in the fast-paced competitive business climate. Overall, the study showed that market innovation has an impact on how well dairy manufacturing companies succeed. These companies performed better when they expanded their market by luring new clients with discounts and by using online marketing. Accordingly, the study draws the conclusion that market innovation can enhance the performance of dairy manufacturing companies since it has a favourable and significant impact on performance. The study, therefore, recommends for the formulation and implementation of any policy regulatory and/or legislative corporate measures from government through the line ministries (livestock and fisheries, agriculture, commerce, trade and industries etc) aimed at easing the cost of doing business for the industry players to sustain their production, productivity, investment, profitability, and portfolio expansion.

European Universities Best Practices: The Case of INVEST EU Alliance

Established in 2018, the European Universities Initiative (EUI) strives to foster collaboration and integration among higher education institutions across Europe. The EUI's core objectives encompass forging transnational alliances, facilitating mobility, championing multidisciplinary approaches, celebrating linguistic diversity, advancing innovation and research, prioritizing student-centered learning, and nurturing long-term sustainability. Central to this initiative is the enhancement of education quality and the promotion of student-centric learning methodologies. Within the scope of the EUI, the INVEST European University stands out as one of the 47 integrated alliances, endorsed by the European Commission. INVEST is dedicated to crafting distinctive collaborative educational paradigms that contribute significantly to regional progress and sustainability. This paper provides a comprehensive overview of the INVEST Joint Education Model, showcasing a range of excellent practices that position the alliance as a key player in the European educational landscape. Specifically, this paper delves into the strategic quality assurance framework, the unified pedagogical approach supporting diverse educational products, the dynamic collaborative platforms like living labs that engage stakeholders and serve as experimentation grounds, the enriching fellowship programs, faculty and student mobility initiatives, eco-friendly digitalization of services, and innovative entrepreneurship and internationalization processes. This study not only offers insightful recommendations but also tangible real-world examples for instructional and support staff navigating the realm of digital transformation within inter-institutional partnerships.

Start-ups in the Brazilian Innovation Ecosystem

The article analyses the dynamics of start-up growth in Brazil highlighting the role of government, companies, venture capital and the innovation system in start-up policy. The most significant recent change in the Brazilian start-up ecosystem was the rise of growth-oriented entrepreneurship and start-ups. The 2021 Brazilian Legal Framework of Start-ups and Innovative Entrepreneurship is a milestone as it establishes mechanisms for the acquisition of products/services by the government provided by start-ups.

ИННОВАЦИОННОЕ ПРЕДПРИНИМАТЕЛЬСТВО

Currently, the issues of the innovative potential of enterprises, the development of innovative technologies, their implementation in human life and production, the digitalization of various phenomena and processes are coming to the fore in connection with the latest trends and changes in society and the state. The gradual formation and development of the global information space and the latest digital technologies is a factor in the development of such a phenomenon as innovative entrepreneurship. To begin with, we will talk about the relevance of this issue at the present time.
 It should be noted that in the era of the information society, almost all aspects of social and economic life are changing: methods of payment for goods and services, their delivery and provision, methods of interaction and communication of economic entities, methods of production. That is why the development and application of the latest digital technologies becomes a factor in ensuring the competitiveness of a commercial organization in the market. In turn, entrepreneurial activity by its essence involves the introduction of various innovations aimed at business development, creating conditions for entering new markets for goods and services, and their comprehensive promotion. We can say that the search for innovations and focus on their application in practice is, first of all, a certain tool for ensuring a high level of entrepreneurial activity with maximum economic benefit. The purpose of the study is to analyze innovative entrepreneurship as a factor in the development of the domestic economic system. In accordance with the goal, the tasks were:
 1. Characterize the concept of «innovative entrepreneurship».
 2. Analyze the main features, as well as factors for the development of innovative entrepreneurship.
 3. Characterize the key directions of formation and development, as well as models of innovative entrepreneurship in Russia.
 4. Develop proposals to stimulate innovative entrepreneurship in Russia with a view to its development.

Economic Preneur's Innovative Strategy in Facing the Economic Crisis

The global economic crisis has placed significant pressure on Economic Preneurs, compelling them to adopt innovative strategies to sustain their businesses amidst challenges. This research delves into the myriad of innovative strategies employed by Economic Preneurs to effectively navigate economic downturns. Utilizing a qualitative research methodology, the study conducts in-depth interviews with fifty Economic Preneurs spanning various industries. The findings shed light on the effectiveness of several strategies, including digital transformation, diversification of service offerings, and a heightened emphasis on customer value optimization. Through these strategies, Economic Preneurs strive to adapt to changing market conditions and customer preferences, ensuring the resilience and viability of their enterprises. Ultimately, it is observed that Economic Preneurs who demonstrate agility and innovation in response to economic challenges are more likely to not only weather financial adversities but also thrive and expand their enterprises. This study contributes to the existing body of literature by offering empirical evidence on resilience tactics utilized during economic crises and provides practical insights for business leaders and policymakers. These insights can inform the creation of conducive environments that foster entrepreneurial innovation and promote economic sustainability in the face of adversity.

Understanding the contemporary history of urban economic change: The case of entrepreneurial innovation

AbstractIn the opening decades of the twenty‐first century certain cities around the world emerged as hubs of entrepreneurial innovation. This paper explores this urban economic change phenomenon through in‐depth and comparative qualitative analysis. It focuses on the recent contemporary history of New York, Los Angeles, London, Berlin, Tokyo and Shanghai prior to the global COVID pandemic. Based on an analysis of the drivers, mechanisms and processes of change, it is found that these cities acted as places of possibility for many individuals who previously may have been unlikely to engage in entrepreneurship. The cities were found to have established new development paths through entrepreneurial innovation stemming from co‐creation network dynamics, with key human agents playing pivotal roles. Common elements include the rise of venture capital, the growth of entrepreneurial cultures, and institutional policy changes. Notably, entrepreneurial innovation was found to be closely tied to changes in large corporates. This innovation evolved through the proliferation of new infrastructure such as co‐working spaces and innovation incubators, with each city being utilised as a test‐bed for new ideas. Finally, the emergence of a darker side to entrepreneurial innovation is found in terms of growing urban inequality.

A study on entrepreneurial innovation among entities in Singapore

The present study aimed to study the entrepreneurial innovation among entities in Singapore. It evaluated the various obstacles that affect entrepreneurial innovation within entities. Further, it has also analysed the various elements that are crucial to overcome the obstacles that affect entrepreneurial innovation within entities. Various factors related to various sources of information fostering innovation activities in an organization were also studied. Difference between the product innovation and process innovation was studied. Furthermore, organizational innovation and marketing innovation were also studied. Lastly, organizational innovation’s degree of observed effect in the organization was also studied. Cross-sectional analysis using realism as epistemological view was undertaken in this study. Deductive research approach along with web-based survey using descriptive research design is the research methods followed in this study. Tools for results’ analysis include descriptive analysis, Q–Q plots, KMO and Bartlett's test, factor analysis and Chi-square tests. The study concluded that enterprises need to work aggressively in the new product development, market opportunities, organization capabilities to ensure that the organizations grow. It is highlighted that process innovation and product innovation have effects on the economic performance of the organization. It does flag that the market innovations are linked with the ways the enterprises change, evolve and develop their fundamental capabilities, which are part of the organizational innovations. Also, the study showed that organizational innovation has greatly helped to improve the quality of the goods or services and reduced costs per unit output. The reduced time to respond to customer or supplier needs and improved employee satisfaction and/or reduced rates of employee turnover is also seen as a significant observed effect of entrepreneurial innovation. Managerial and theoretical implications along with Ideas for future research is also provided.

European Universities Best Practices: The Case of INVEST EU Alliance

Established in 2018, the European Universities Initiative (EUI) strives to foster collaboration and integration among higher education institutions across Europe. The EUI's core objectives encompass forging transnational alliances, facilitating mobility, championing multidisciplinary approaches, celebrating linguistic diversity, advancing innovation and research, prioritizing student-centered learning, and nurturing long-term sustainability. Central to this initiative is the enhancement of education quality and the promotion of student-centric learning methodologies. Within the scope of the EUI, the INVEST European University stands out as one of the 47 integrated alliances, endorsed by the European Commission. INVEST is dedicated to crafting distinctive collaborative educational paradigms that contribute significantly to regional progress and sustainability. This paper provides a comprehensive overview of the INVEST Joint Education Model, showcasing a range of excellent practices that position the alliance as a key player in the European educational landscape. Specifically, this paper delves into the strategic quality assurance framework, the unified pedagogical approach supporting diverse educational products, the dynamic collaborative platforms like living labs that engage stakeholders and serve as experimentation grounds, the enriching fellowship programs, faculty and student mobility initiatives, eco-friendly digitalization of services, and innovative entrepreneurship and internationalization processes. This study not only offers insightful recommendations but also tangible real-world examples for instructional and support staff navigating the realm of digital transformation within inter-institutional partnerships.

Entrepreneurial Innovation in German Language Education: Integrating Gamification on the BRIX Application-Based Platform

Entrepreneurial Innovation in German Language Education: Integrating Gamification on the BRIX Application-Based Platform

Empowered Women: Strategies to Increase Competitiveness in the Era of Society 5.0 through Entrepreneurship

This research aims to increase the competitiveness of women entrepreneurs in Medan City and Deli Serdang Regency, North Sumatra, through human resource transformation. In the Society 5.0 era, women have a crucial role in increasing competitiveness through entrepreneurship. Even though the business potential in the region is significant, human resources have not been fully optimized. This research identified several problems, including the low competitiveness of female entrepreneurs, lack of managerial experience, lack of innovation ability, and limited education. This research was conducted using a qualitative descriptive approach, involving 115 female entrepreneurs as respondents. The results of the analysis show that the majority of female entrepreneurs are aged 41-50 years, have 2-5 years of business experience, and most do not have a business license. Nevertheless, the quality of women entrepreneurs is considered good, especially in terms of interpersonal skills and responsibility for business. The analysis also reveals the importance of the quality of human resources in increasing competitive advantage. Technical skills, management, entrepreneurship and personal maturity were identified as key factors that need to be improved. It is hoped that the transformation of human resources can improve the quality and innovation of women entrepreneurs. In the context of digitalization, women entrepreneurs need to utilize digital marketing to expand business networks. As many as 46.09% of respondents agreed with this effort. Improving the quality of human resources in terms of mastery of information technology is crucial for taking advantage of digitalization opportunities. The results of the Forum Group Discussion emphasize the importance of the business community, in-depth training, and the role of the family in supporting women entrepreneurs. Technological innovation, understanding regulations, and halal certification are also considered important to improve product quality. This research contributes by identifying the problems and opportunities faced by women entrepreneurs in North Sumatra. By implementing the Social Entrepreneur Strengthening Model, it is hoped that the transformation of human resources can increase the competitiveness and welfare of women entrepreneurs and support local economic growth.

Entrepreneurship Interest Training Through Innovation and Creativity for Generation Z at Sultan Agung Private High School

Innovation and creativity in this digital era are needed in developing the business you want to be involved in so that you are not trapped in daily operational activities and pursuing performance targets. The fundamentals of implementing this service with the theme of training interest in entrepreneurship through innovation and creativity for generation Z at Sultan Agung Private High School are to encourage generation Z, especially in the Sultan Agung Private High School environment, to increase knowledge related to entrepreneurship by utilizing innovation abilities and creativity in developing businesses. The method used in implementing this activity is through lectures and FGD (group discussion forum). The stages of implementing this event include opening and introducing entrepreneurial innovation and creativity, explaining the fundamentals of being an entrepreneur, explaining several problems often faced by young entrepreneurs, then continued with discussions related to new business development. After the service activities are completed, follow-up interviews are conducted regarding the impact of implementing the service activities. According to the interview results, it is known that the understanding of generation Z, especially students at Sultan Agung Private High School, regarding increasing understanding of innovation and creativity has increased by 95%.

Entrepreneurial innovations and trends: A global review: Examining emerging trends, challenges, and opportunities in the field of entrepreneurship, with a focus on how technology and globalization are shaping new business ventures

This scholarly inquiry delves into the intricate dynamics of entrepreneurship in the global economy, focusing on the pivotal roles of technological advancements and globalization. The study's primary aim is to unravel the complexities and evolving nature of entrepreneurial success in the 21st century, examining how technology and global integration shape new business ventures. Employing a qualitative and theoretical approach, the research methodically synthesizes a wide array of literature, offering a comprehensive analysis of the current entrepreneurial landscape. The findings of the study reveal a multifaceted entrepreneurial ecosystem, significantly influenced by digital transformation and global market integration. It highlights the emergence of social entrepreneurship and the critical role of technological innovations in developing new business models. The research also uncovers the dual nature of globalization, presenting both opportunities and challenges for entrepreneurs. A sector-specific analysis further elucidates the variations in entrepreneurial growth and decline, emphasizing the significance of geographic factors in entrepreneurial outcomes. Conclusively, the study underscores the necessity for entrepreneurs to adapt to rapidly changing business environments, advocating for strategic innovation and adaptability as essential tools for sustainability and growth. It posits that the future of entrepreneurship will be characterized by increased digitalization, innovation, and a focus on sustainable and inclusive growth. Policy implications suggest the need for inclusive, technology-integrated strategies to support entrepreneurial ventures. Recommendations for future entrepreneurs centre on embracing digitalization, fostering an innovative mindset, and leveraging global opportunities while navigating associated challenges.

Entrepreneurship in the sharing economy: A review of business models and social impacts

The emergence of the sharing economy has fundamentally transformed conventional company structures, presenting novel prospects for entrepreneurs and questioning existing conventions across diverse industries. This study offers an extensive examination of entrepreneurship within the sharing economy, delving into various company models and scrutinising its societal ramifications. The sharing economy, which involves peer-to-peer transactions mediated by internet platforms, has seen the rise of new entrepreneurial businesses. This paper explores the diverse and complex nature of sharing economy business models, encompassing various platforms such as ride-sharing, accommodation-sharing, asset-sharing, and skill-sharing. A thorough examination of each model to explore the fundamental concepts, operational processes, and crucial aspects that contribute to entrepreneurial success in this rapidly changing environment is being explored. This study examines the impact of different business models on consumer behaviour, market dynamics, and social developments. The assessment examines the good and negative outcomes, taking into account factors such as improved efficiency in resource utilization, economic empowerment of individuals, and potential difficulties linked to regulatory issues, labor rights, and market competitiveness. This paper focuses on the essential role of technology and digital platforms in promoting entrepreneurship within the sharing economy. Through an analysis of the impact of digitalization on market accessibility, trust mechanisms, and scalability, the role of technology as a driver for entrepreneurial innovation and expansion is emphasized. Additionally, it analyses the impact of regulatory frameworks on entrepreneurial activity, investigating the difficult balance between stimulating innovation and maintaining consumer protection, fair competition, and social equality. In conclusion, this research gives useful insights into the entrepreneurial environment of the sharing economy, presenting a comprehensive knowledge of diverse business models and their societal implications. By putting light on both opportunities and problems, thereby contributing to the current conversation on the role of entrepreneurship in determining the future of the sharing economy and its consequences for society at large.

Influences The Sustainability Of Business Continuity Through Mass Customization On Embroidery Smes In West Bandung Regency

At this time, MSMEs are an important part of the economy in Indonesia, one of them is in the West Java region. It was recorded that in 2021 the number of MSMEs in West Java was 6,257,390 and West Bandung Regency was the area that experienced a significant increase. The categories of the business are accessories, batik, embroidery, craft, fashion, services/others, convection, culinary, food and drink. However, the covid-19 pandemic has caused business actors, especially the embroidery sector that must be work harder in order to survive in the pandemic era. The lack of entrepreneurial innovativeness in business success is can influence a decrease in sales and the success of a business can be seen from business actors who making mass adjustments in terms of production (mass customization). Therefore, business actors are required to be able to maintain their business. On this research using a descriptive and associative methods. Descriptive research explains that characteristic or gap can be used as a basic to solving business problem. On this research, descriptive research explains characteristic and variable function like entrepreneurial innovativeness, mass customization, and business contuinity. The location of this research is in West Bandung Regency, and the research subject were 70 embroidery business actors in West Bandung Regency. Data collection techniques is using library research, then continued with distributing questionnaires and interview. Data analysis techniques is using path diagrams assisted by SEM-PLS software. The result on this research show that entrepreneurial innovativeness mediated by mass customization has an effect on business continuity.

Transgender Entrepreneurship: Challenges, Opportunities, And Impact on Developing Country Like India.

Transgender people, or those whose gender identity differs from the gender assigned to them at birth, have historically experienced considerable gender bias and obstacles in many aspects of life. Entrepreneurship, a field characterized by human freedom and self-creation, presents transgender persons with both distinct problems and opportunities. This article sinks into the experiences of transgender entrepreneurs, investigating at how concerns of identity, discrimination, and societal standards affect their entrepreneurial path. This study offers light on the resilience and innovation of transgender entrepreneurs who navigate complicated personal and professional terrains using qualitative interviews, statistical data, and case studies. While transgender entrepreneurs face numerous challenges, from access to financing to acceptance in business networks, the findings imply that they also use their unique identities and experiences to drive creativity. Community-building and social change. Implications for policy, practice, and further research are discussed, emphasizing the need for more inclusive and supportive ecosystems that recognize the potential of all entrepreneurs, irrespective of their gender identity. The findings suggest that while transgender entrepreneurs frequently encounter barriers, from access to capital to acceptance in business networks, they also leverage their unique identities and experiences to foster innovation, community-building, and social change. Implications for policy, practice, and further research are discussed, emphasizing the need for more inclusive and supportive ecosystems that recognize the potential of all entrepreneurs, irrespective of their gender identity.
 The findings suggest that while transgender entrepreneurs frequently encounter barriers, from access to capital to acceptance in business networks, they also leverage their unique identities and experiences to foster innovation, community-building, and social change. Implications for policy, practice, and further research are discussed, emphasizing the need for more inclusive and supportive ecosystems that recognize the potential of all entrepreneurs, irrespective of their gender identity.

Entrepreneurial Character Education from an Early Age

This study aims to understand forming students with an entrepreneurial character from an early age. For this reason, this research uses a qualitative type with a case study approach at the elementary school level, namely Islamic Primary School (SDI) Ibnu Rusyd North Lampung, Indonesia. Data were obtained from phenomena and activities at the research locus as primary data using in-depth observation techniques and structured interviews. The secondary data was obtained from institutional documents and some from literature sources such as books and articles with a close relationship with the entrepreneurial character. The analysis technique follows Miles & Huberman with the steps of gathering, presenting, condensing, and drawing conclusions. The results of the discussion explained that there are five entrepreneurial characteristics that SDI Ibnu Rusyd applies, namely independence, creativity, leadership, discipline, and the courage to take risks. Independent means the attitude students possess to overcome various problems by relying on their abilities. Creativity means that students can produce innovative new ideas. Leadership to influence and inspire others. Discipline means being able to act according to direction and responsibility. Dare to take risks is the nature of an entrepreneur. Feel free to try new things or take steps that have consequences. Applying entrepreneurial character right from an early age forms a strong foundation forming an essential basis for the success and innovation of future entrepreneurs.