While there is plenty of ‘necessity-based’ entrepreneurship (i.e., people become entrepreneurs because they need to economically survive) such as in the case of street vendors, it is doubtful whether there is a critical mass of ‘opportunity-based’ entrepreneurs who seize and execute risky opportunities through innovations. Innovation surveys show that risk taking attitude is rather low among Thai entrepreneurs, though it has improved in recent surveys. Thai traditional wisdom is more on conforming to existing societal values and ideas of senior persons rather than challenging them.