This chapter attempts to integrate the various chapters and their contents to demonstrate how entrepreneurship, innovation, economic and social development are mutually dependent. In the first section the reader can explore the scope and value of the relationships using a critique of current thinking to propose critical, alternative approaches. In the second section, the concentration is on specific regional, economic and social development issues and on how new venture formation impacts on such development. The chapter examines the paradoxical trends of globalisation and regional development and how entrepreneurial opportunities are created in globally connected regions, ending with proposals for policies for entrepreneurial economic development in a modern context.