This chapter discusses the formation of the entrepreneurial society and it presents some of the current initiatives for entrepreneurship development in Russia. The chapter provides a comparative analysis of entrepreneurship development in Russia using the results of the 2013 Global Entrepreneurship and Development Index (GEDI) as well as the 2013 Gender-GEDI results which focus specifically on female entrepreneurs. It also presents the specific strategies adopted by Russian entrepreneurs. The chapter analyses the conditions and characteristics for start-ups in Moscow using the Startup Ecosystem Report. It discusses the four main challenges to business growth and development: corruption, financing, education and civil society. The chapter defines entrepreneurship as: the ability of individuals to perceive and create new economic opportunities through innovative activity; to introduce their new ideas to the market; as a result to establish a viable business that contributes to national economic growth and personal livelihood.