Who an entrepreneur is

The word entrepreneur comes from the French enterprendre, 'to undertake'. An entrepreneur is someone who spots a business opportunity, organises the resources to pursue it, and bears the risk. So an entrepreneur plays three roles: innovator, organiser and risk bearer.

Why do entrepreneurs matter?

• They grow economies, as in the USA and Japan, and in many business communities in India.
• They bring new products and services.
• They build capital.
• They create jobs, which raises living standards.
• They help communities develop.
• They give the unemployed a path to self-employment and dignity.

The qualities that help: initiative, knowledge and skill, willingness to take risks, adaptability, self-confidence, and the drive to create wealth.

An entrepreneur starts and owns the venture and takes the risk. An intrapreneur is an employee who drives innovation inside an existing organisation.

An Indian example: Dr Krishna Ella, born in Nemili, Tamil Nadu, studied agriculture and plant pathology, then molecular biology in the USA. He returned to India to set up Bharat Biotech in Hyderabad, which has made over 4 billion doses of vaccines, including Covaxin, India's first Covid-19 vaccine, developed in about eight months.