Innovative entrepreneurship involves creating new business ideas to generate profit while benefiting the community and enhancing competitiveness. It includes various types of entrepreneurs such as social, startup, and enterprise entrepreneurs, each with their unique approaches to addressing market needs and community challenges. This form of entrepreneurship is vital for economic growth, job creation, and addressing social issues, and can be developed through workshops, networking, and idea journaling.

1. Innovative Entrepreneurship

3. What is innovative entrepreneurship?
• Innovative entrepreneurship is the practice of establishing creating
new business ideas intending to generate profit, assist their
community and accomplish company goals.
• Innovative entrepreneurs develop business models to identify to
meet the needs of an organization and improve their competitiveness
in the market.
• Most entrepreneurs use innovative ideas to help create these
business models or make upgrades to their current model. They can
use this motivation to design innovative strategies for business
success.

4. Types of innovative business entrepreneurs
There are many types of innovative business entrepreneurs,
including:
1. Social entrepreneurs
2. Startup entrepreneurs
3. Enterprise entrepreneurs

5. 1. Social entrepreneurs
• This type of entrepreneur often aims to solve community problems
with their product or services. These products can promote positive
developments in community behaviors.
• Social entrepreneurs often measure success in improving their
community rather than success in profits.

6. 2. Startup entrepreneurs
• Startup entrepreneurs innovate a single product or service that's
unique to an industry.
• To promote success in their startup business, they may use innovative
marketing strategies to keep customers.
• This can include creating strategies to provide exceptional customer
experiences during the purchase or use of the product.

7. 3. Enterprise entrepreneurs
• Enterprise entrepreneurs may use innovation to develop new ideas
for corporations that have been in business for many years. This can
help an enterprise business stay relevant and competitive in its
market.
• Enterprise entrepreneurs help enterprise businesses or corporations
adapt to market changes by creating strategies to combine new
technologies and systems in their business model. They use their
innovative ideas to upgrade current products or services to generate
positive user experiences and maintain their wide customer base.

8. Why is innovative entrepreneurship
important?
At a time when policy makers are combining efforts to;
• restore growth
• overcome the global economic
• financial crisis,

9. Why is innovative entrepreneurship
important?
Then specific attention has been focused on innovative
entrepreneurship, as it can play an important role in contributing
to:
1. economic growth,
2. job creation
3. poverty reduction,
4. help address key social challenges.

10. Why is innovative entrepreneurship
important?
• It's important to have innovative entrepreneurship to identify new
trends and market demand. This helps a company to produce new
goods or services that appeal to its target audience.
• For a business to adapt to new trends in its industry, it may continue
to create:
a) innovative products,
b) services
c) updated brand development to stay relevant.

11. What types of businesses are innovative
entrepreneurs do?
The definition of innovative entrepreneurship is associated with either
small and medium-sized enterprises (SMEs) or business start-ups but is
derived from the intersection of three areas:
1. innovative businesses
2. young and high-growth businesses
3. SMEs

12. Figure: The module for innovative
entrepreneurship.

13. How can you develop innovative entrepreneurship skills?
• Take part in an innovation workshop
• Keep a journal specifically for writing down new ideas for products or
business processes
• Attend networking events to consult with other entrepreneurs
• Ask yourself questions such as "How can I make this product or
experience better?"
• Seek out new projects in the workplace to challenge your innovative
thinking skills