The process through which an entrepreneurship initiative develops does not come from out of nothing and, most importantly, is not limited to the mere conception of a different business idea.

There are many proposals that try to conceptualize the different stages of the entrepreneurship process and, although many are based on the points of view of the designer, it is possible to deduct a common reference framework that satisfactorily explains the evolution of the entrepreneurship process. Such stages are as follows: i) Evaluation and subsequent establishment of the idea: What is it? What do I want to do? Is it technically feasible and financially viable? and Is it based on adequate documentation?; ii) A business plan for the development of the good or service per se, i.e., the establishment of the business model and funding, as well as the operational plan of the company; iii) the legal registration of the business; iv) The completion of the financing required to start up the enterprise; and v) the insertion into the market through an appropriate marketing strategy that ensures the effective marketing of the good or service.

During the aforementioned stages, the entrepreneur faces bureaucratic and logistics processes that hinder and slow down the innovative dynamics. In addition, the asymmetries in terms of information results in a waste of financial, human, intellectual and social capital resources, as well as deficiencies in the development of a sustainable business plan. This situation is further compounded by the lack of committed linkage with mentoring systems by institutions in the innovative ecosystem. Finally, without an innovative ecosystem that favours the exchange of knowledge and technology transfer, innovation is compromised.

In response to the challenges that emerge during the evolution of entrepreneurship initiatives, it turns out to be urgent to empower entrepreneurs so that they can timely respond to such challenges, on the basis of solidly informed and documented decisions. In addition, entrepreneurs should count on tools that help them plan, direct and promote their business in a sustainable manner, effectively manage risks and seize the opportunities offered by the market. Such tools are grouped in the following areas: i) Personal features; ii) Inter-personal skills; iii) Critical and creative skills; and iv) Practical skills.

The first area includes aspects such as: Entrepreneurial vision; persistence and motivation in the long term; willingness to run risks; focus on achieving objectives, and resilience. Inter-personal skills include: Effective negotiation, oral and written skills; capacity to establish and maintain positive relationships; and development and management of teamwork’s and motivation towards the achievement of results through leadership. Critical and creative skills are as follows: Creative thinking to innovate; design-oriented thinking to develop the idea and its business model; and critical thinking for reflection and expansion of perspectives that facilitate problem resolution.

Finally, practical skills include: Establishing clear and feasible objectives; and planning and managing the financial, intellectual, human and social resources available to the company. In addition, it is necessary to emphasize the importance of Research and Development (R&D), depending on organizational aspects such as: production, logistics, marketing, business models, regulatory and legal protection systems, fiscal matters, infrastructure and technology.