Schumpeter (1911/1934, 1928) believed that entrepreneurs were hero figures who had the ability to become innovators and identify opportunities. Knight (1921) described the entrepreneur as someone willing to take risks to obtain a profit as a reward. Drucker (1974) was considered the “father of modern management”; said that management and entrepreneurial strategies along with innovation are crucial to create the future or create a different business. Kirzner (1973, 1979, 1997, and 1999) identified that entrepreneurs play the role of identifying opportunities and being creative. More recently Ely and Hess in 1983 created a four-factor model consisting of entrepreneur, capital, labor and enterprise, this model was created to understand entrepreneurship in depth. From this we can see that over time some of the leading scholars have disparate approaches regarding entrepreneurship and how a foundation platform has been progressively advanced in academia.