Whois & Analysis for 1871.com

Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire, and the people who do so are called 'entrepreneurs'.

It has been defined as the "...capacity and willingness to develop, organize, and manage a business venture along with any of its risks in order to make a profit." While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of businesses have to close, due to a "...lack of funding, bad business decisions, an economic crisis -- or a combination of all of these" or due to lack of market demand.

In the 2000s, the definition of "entrepreneurship" has been expanded to explain how and why some individuals (or teams) identify opportunities, evaluate them as viable, and then decide to exploit them, whereas others do not, and, in turn, how entrepreneurs use these opportunities to develop new products or services, launch new firms or even new industries and create wealth.

Recent advances stress the fundamentally uncertain nature of the entrepreneurial process, because although opportunities exist their existence cannot be discovered or identified prior to their actualization into profits.

What appears as a real opportunity ex ante might actually be a non-opportunity or one that cannot be actualized by entrepreneurs lacking the necessary business skills, financial or social capital.

Innovation can be defined simply as a "new idea, device or method".

However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs.

This is accomplished through more-effective products, processes, services, technologies, or business models that are readily available to markets, governments and society.

The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society.

It is related to, but not the same as, invention.

Innovation is often manifested via the engineering process.

The opposite of innovation is exnovation.

Chicago (or), officially the City of Chicago, is the third-most populous city in the United States.

With over 2.7 million residents, it is the most populous city in the state of Illinois, and the Midwestern United States.

It is the county seat of Cook County.

The Chicago metropolitan area, often referred to as Chicagoland, has nearly 10 million people and is the third-largest in the U.S.

Technology ("science of craft", from Greek, techne, "art, skill, cunning of hand"; and) is the collection of techniques, skills, s and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation.

Technology can be the knowledge of techniques, processes, and the like, or it can be embedded in machines which can be operated without detailed knowledge of their workings.

A business incubator in business speak is a company that helps new and startup companies to develop by providing services such as management training or office space.

The National Business Incubation Association (NBIA) defines business incubators as a catalyst tool for either regional or national economic development.

NBIA categorizes their members’ incubators by the following five incubator types: academic institutions; non-profit development corporations; for-profit property development ventures; venture capital firms, and combination of the above.