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Contextual Factors for Rural Entrepreneurship and Innovation
Abstract
Innovation and entrepreneurship are intertwined as entrepreneurs seek opportunities and innovations are the instruments that make them successful. Entrepreneurship and innovation are not constricted to the initial stages of a new venture alone and these are invincible processes that can lead to growth and sustainability of business in the dynamic environment. Rural entrepreneurship can be regarded as risk-taking behavior appropriate to opportunity, as well as to mobilize human, material, and financial resources in order to fulfill innovative projects in rural areas. There are multifaceted issues associated with the growth of rural entrepreneurs which need intervention by various political, economic, and social organizations. This chapter attempts to highlight specific contextual factors for rural entrepreneurship and innovation.
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