Opportunity Discovery vs Opportunity Creation: Competing Models and Complementary Logics in Entrepreneurship Theory
- Miguel Virgen, PhD Student in Business
- Jan 26
- 4 min read
The question of how entrepreneurial opportunities emerge lies at the heart of entrepreneurship theory. Among the most influential and debated perspectives are the opportunity discovery and opportunity creation models, which offer contrasting explanations of where opportunities come from and how entrepreneurs engage with them. Rather than representing a purely academic dispute, this theoretical divide has profound implications for research design, entrepreneurial education, and practical decision-making under uncertainty. This paper provides a PhD-level analysis of the discovery and creation models, tracing their intellectual origins, unpacking their core assumptions, and evaluating their explanatory power in contemporary entrepreneurial contexts.
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