The aim of this paper is to transfer the innovation system (IS) approach to the microeconomic level, creating a … intersecting area, when the opportunity vacuum (OV) is created. The OV is a space, which strongly attracts innovation and often …

We extend Lazear's theory of skills variety and entrepreneurship in three directions. First, we provide a theoretical … that being a generalist does not seem to be important in this regard. Finally, we find that innovation positively moderates …, but also commercial value. Our findings support the notion that entrepreneurship can be learned. …