The notion of opportunity has always been, and still is, subject to numerous attempts to define it. For Schumpeter (1934), one derives from the other when he suggests that entrepreneurial opportunity results from ‘a new combination of production factors, which manifest sit self through the introduction of a new product, a new production process, a new market, a new source of supply, or finally, a new form of industrial organisation’. For the Austrian economist Kirzner (1983), opportunity stems from a dysfunction in the market: ‘an imperfection or economic unbalance, which can be exploited by the entrepreneur who will thus restore the market balance’. Opportunity here is considered as a source of profit made possible by the existence of a solvable demand and the availability of necessary resources. For Casson (1982), opportunities are ‘occasions when new goods, new services, raw materials and organisation methods can be introduced and sold at a higher price than their cost of production’. In this approach too, opportunity and novelty go hand in hand. Other points of view give more importance to the individual’s subjectivity. For instance, Stevenson and Jarillo (1990) define opportunity in reference to ‘a future situation deemed both desirable and feasible’.