In this chapter we consider how opportunities are found and realised. This should help us to identify the meaning of entrepreneurship. The chapter should help to obtain a critical appreciation of the different sources of entrepreneurial opportunity and new venture creation, linking the different sources to various theoretical insights and concepts. The chapter offers insights into the relationship between technology-driven opportunities and entrepreneurship and how these opportunities can be shaped by different stages of a product life cycle. Finally, the chapter offers an overview of the role of institutions, in particular, governments, in generating entrepreneurial opportunity.