Entrepreneurship is the process of designing a new business, i.e. a startup company offering a product, process or service. The entrepreneur perceives a new business opportunity and often exhibits biases in their perception and subsequent decision to exploit the opportunity. The exploitation of entrepreneurial opportunities may include design actions such as to develop a business plan, acquire the human, financial and other required resources, and to be responsible for its success or failure. Entrepreneurship may operate within an entrepreneurship ecosystem which includes government programs and services that promote entrepreneurs, entrepreneurship resources (e.g., business incubators and seed accelerators), entrepreneurship education, training and financing (e.g., loans, venture capital financing, and grants).BackgroundIn recent years, "entrepreneurship" has been extended from its origins in for-profit businesses to include social entrepreneurship and the concept of the political entrepreneur. Entrepreneurship within an existing firm or large organization has been referred to as intrapreneurship and may include corporate ventures where large entities spin off subsidiary organizations. Entrepreneurs are leaders willing to take risk and exercise initiative, taking advantage of market opportunities by planning, organizing, and employing resources, often by innovating new or improving existing products. More recently, the term entrepreneurship has been extended to include a specific mindset (see also entrepreneurial mindset) resulting in entrepreneurial initiatives, e.g. in the form of social entrepreneurship, political entrepreneurship, or knowledge entrepreneurship.