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This chapter deals with the process perspective of entrepreneurship, that is, what prospective entrepreneurs should do and how they do it (the processes they use) to launch a new venture in the tourism field. The main purpose of this chapter is to explain what the entrepreneurial process is, the steps/phases to transit from idea to enterprise and the risks involved.

General review was conducted on conceptual issues and managerial aspects of the entrepreneurial process and legal issues.

This chapter highlights that the entrepreneurial process undergone by entrepreneurs is dual in nature, both in terms of action and thinking process. Given that the failure rate of new ventures is high, there is a need to focus on the importance of understanding the dynamics of entrepreneurship, the action process of the prospective entrepreneur and the potential risk impact.

This chapter is explorative in nature because the discussion is based on a general review.

Prospective entrepreneurs should follow specific steps, a rational process to establish their business venture and to protect its operations against any event. Thus, any new business should manage risks appropriately, as well as record insurance to cover for unforeseen events.

This chapter provides an overview of the entrepreneurial process and legal risk issues that may affect the success of a new venture. The hands-on approach is particularly useful in dealing with the entrepreneurial mind when exploring new business ventures in the tourism field.

Contemporary entrepreneurial education (EE) has global reach and impact, with a growing number of entrepreneurship courses, specializations, and degrees in all parts of the world. There is no longer a question of the significance and demand for EE in the higher education system. At the same time, the interest in scientific knowledge and proven experience of “what works” has accelerated, resulting in a rapid growth in the number of scholars and research-based publications conversing vividly about the field. This chapter elaborates on the historical evolution of EE as a scholarly field. First, an overview of important milestones and major events that shaped the field is provided. Second, by focusing on the development over the last three decades, the authors present an overview of the advances that have occurred within the field in terms of practice, social, and research-based aspects. The historical review shows how EE began in, but gradually separated from entrepreneurship as a field, which can be observed in the development of research outlets, meeting places, and teaching practice. Consequently, this historical review can serve as a point of departure for showing how the field has emerged and how knowledge has been developed and accumulated over time. The authors believe that this review can be helpful for scholars, particularly new entrants such as PhD students and other scholars entering the EE field, to learn from and contextualize their own research-based historical insight.

Entrepreneurship involves the skills and competencies needed to identify, develop, and exploit opportunities in new or existing ventures. Studies have demonstrated that entrepreneurship can be learned and taught; for this reason, universities and educational institutions have increased the number of courses, concentrations, master programs, majors, and PhD programs, seeking a better impact on their students, graduates, and communities. As the knowledge of entrepreneurship has increased, one of the emerging areas of study is the analysis of the methodologies to accomplish better teaching and learning of entrepreneurship.

This chapter introduces entrepreneurship as a discipline and presents its theoretical evolution and impact on education through different educational approaches: the first approach is related to the entrepreneur; the second to the process; the third focuses on cognition; and the fourth approach, determines the education of entrepreneurship as a method, involving new educational techniques for developing skills through practice, action, and reflection. Then, there is an analysis of how three universities in Mexico, Chile, and Colombia use these teaching approaches in their entrepreneurship programs. Finally, there is a reflection on the new perspectives of entrepreneurship education, the stakeholders involved, and the role that universities, educational institutions, and government play in the transformation of entrepreneurship education.

Entrepreneurs’ decision-making for detecting, evaluating and utilising opportunities across international borders is one of the main subjects of international entrepreneurship research. This study aims to argue that recognising and classifying international entrepreneurship opportunities facilitate the decision-making process. To do such a thing, a multi-layer decision-making approach focusses on the industrial sector of the Kish free zone. In the first stage, the data will be collected by a questionnaire survey of entrepreneurial companies in the industry field and the main international entrepreneurship opportunities will be identified. In the second stage, the importance and relationship between the opportunities will be evaluated based on the identified opportunities. Eventually, in the last stage, the relationship and the importance of the opportunities will be determined by proposing and using a multi-layer decision-making approach. In conclusion, the prioritised international entrepreneurship opportunities will be presented.

The purpose of this chapter is to explore whether and how angel investors’ emotions unfold in the investment opportunity evaluation process as they interact with the social environment. Complementing recent research that has emphasized the financial calculations, we add angel investors’ own emotional arousal to the list of tools that may help them to rate investment opportunities.

Drawing on semi-structured qualitative interviews, we develop a phenomenological analysis of the investment opportunity evaluation process at the level of angel investors’ lived experience.

Our findings indicate that when angel investors use their emotional arousal in evaluating investment criteria, they engage in a developmental process characterized by three elements: subjective validation, social validation, and investment decision.

We illuminate how discrete emotions can complement rational considerations in the opportunity evaluation journey. Capturing the nature of emotion as action oriented, embodied, socially situated, and distributed, we embrace its adaptive socially situated dynamics.

Taking a step toward better understanding of the soft aspects in the relationship development that leads to investments, we hope this study will help not only those entrepreneurs who need funding but also those policymakers who design new incentives that improve the flow of investment into promising new ventures.

We demonstrate how angel investors’ emotions can complement their rational considerations in the investment opportunity evaluation process as they interact with the social environment. Identifying boundary values for the conditions that are necessary and sufficient to advance in the process, we have demonstrated how emotion can serve as a driving or restraining force not only during subjective validation but also during social validation.

Business plan writing seems the panacea to gain stakeholder legitimacy and financial backing. Our chapter explores the contributions and disconnections between business plan writing and the start-up process for incubated technology entrepreneurs. The study is set in the South East Enterprise Platform Programme (SEEPP), an incubator programme for technology graduate entrepreneurs in the South East of Ireland. Using a purposive sample of technology entrepreneurs in start-up mode, we took a qualitative approach consisting of content analysis of 40 business plans and in-depth interviews with 25 technology entrepreneurs. Our research found that writing a detailed business plan constrains the technology entrepreneur’s natural penchant for action, compelling them to focus on business plan writing rather than enactment. Technology entrepreneurs favour a market-led rather than funding-led operational level document to plan, and learn from, near-term activities using milestones.

The aim of this chapter is to discuss and highlight the importance of entrepreneurship and entrepreneurs in tourism in order to engage the reader in the central topic of the handbook.

A literature review was conducted on conceptual issues and practical aspects of entrepreneurs and entrepreneurship. Case studies are included to illustrate the role and contribution of entrepreneurs in the tourism field.

This chapter highlights (1) practical definitions of the terms entrepreneurs and entrepreneurship; (2) main features of tourism entrepreneurs; and (3) the role of entrepreneurs in tourism activities and their contribution to the development of a tourism destination.

This chapter is explorative in nature, because the discussion is mostly based on a literature review. Thus, more research-based knowledge and more empirical studies are needed in this field.

The chapter presents the main features and characteristics of individuals involved in entrepreneurship, as well as the need for developing the appropriate skills for successful business ventures.

This chapter deals with the question of why tourism entrepreneurship is so important in the contemporary context and in the business environment of tourism. The practical and entrepreneurial approach of the book is also discussed.