A Whole 'Nother Level

Q: Why should entrepreneurship researchers venture into the depths of neurons and synapses, hormones, recepters, inhibitors, not to mention long term potentiation and learn a whole slew of new language and methods for this field of neural substratic basis for behavior?

A: Because what we have done thus far has not given us many answers. The study of entrepreneurs and entrepreneurship remain fascinating areas. The benefits of entrepreneurial activity are felt around the world. It is the great equalizer, wealth creator, and driver of economic innovation and growth wherever it can be found. Yet our existing tools for understanding entrepreneurship have thus far not been able to get at really understanding the mind of the entrepreneur!

Q: Why do we need or want to understand the mind of the entrepreneur?

A: Because we (governments, societies, individuals who all benefit) want more of it, and we want to encourage it, foster it wherever we can! In a nutshell, it keeps us sharp and provides increasing quality of life.

Issues of creativity and trust, adaptability and cooperation are all aspects that we witness on a daily basis in entrepreneurs that we know and love. Yet the tools we have to study these attributes are woefully shallow even as broad and encompassing as they are!

We have the macro level -- we can look at organization ecology of births and deaths and life cycles of organizations and industries. We can look at environmental impact, we can take the Global Economic Monitor and World Bank reports, and compare participating countries to observe this robust phenomenon around the world. We can measure GDP and percentage of government employees and remark about level of entrepreneurial activity as a proxy for quality of life advances, and see what is happening to povertly levels around the world when entrepreneurship is allowed to take root. But this doesn't quite get to the driving factor.

We have the micro or firm level -- we can examine the start-up and growth of new ventures. We can analyze patterns of venture capital investment and creation of markets. We can study networks and processes and corporate venturing. But still something is missing.

We have the individual -- the entrepreneur. The agent actor cognizant or not of all necessary information for a given event, conceives, perceives or enacts an opportunity and is able to bring it to market by corraling resources not necessarily already possessed. But given the same opportunity, why did this individual and not another run with it? There must be something more.

Thus we come to the neural basis of entrepreneurship. This is a whole 'nother level, and represents a set of new opportunities for the researcher in entrepreneurship. It is not going to replace all the rest but will no doubt open up many new doors of understanding and particularly because it allows for experimental methods which has not yet been widely used in the study of entrepreneurship but is on its way.

Give neuroentrepreneurship a chance!