ABSTRACT
Structure of the chapter Following the introduction, this chapter examines the different sources and types of opportunities that lead to new product development and to the creation of new firms, including the impact of demand and supply side issues. In Part II we examine how technology – its availability and use – influences opportunity creation, identification and exploitation through new business formation. Part III then makes the connection between different opportunities and the stages of a life cycle of a product, showing how different stages yield various opportunities for innovation and new firm formation. The final part then explores ways in which institutions and especially governments influence the generation of new opportunities for innovation and entrepreneurship.
