Introducing Opportunity-based Entrepreneurship in a Transition Economy

This paper confronts necessity-based and opportunity-based entrepreneurial concepts in the transition of developing economies. The author constructs a research model and conducts field research (using Serbia as a case study) to explore how different personal and regional characteristics can favour either a necessity- or opportunity-based ntrepreneurial environment. The concluding remarks emphasize the need for careful introduction of opportunity-based entrepreneurship together with recommendations for how that may be accomplished across different regions. Results suggest that there are four possible entrepreneurial settings for a selected town or region, and four strategies for introducing the opportunity-based entrepreneurship are given. In the most general sense, this paper strives to encourage discussion about national systems of innovation as a complementary and/or dominant catch-up strategy for transition and developing economies.