Eras of Entrepreneurship

Tracing the Entrepreneurial Narrative in the United States.

Eras of Entrepreneurship: About This Era Analysis

Navigate the Eras of Entrepreneurship Click on the timeline or drag the slider tool to move across eras The title of the era and a brief summary appear at the top of the page Expanded summaries are found at the bottom of the page Iconic entrepreneurs and entrepreneurial roles are highlighted as you move across eras Iconic entrepreneurs and entrepreneurial roles are highlighted as you move across eras Iconic entrepreneurs and entrepreneurial roles are highlighted as you move across eras Major themes are traced from era to era Click on the title of a theme for expanded analysis Key developments in the entrepreneur experience are considered across eras Key developments in the entrepreneur experience are considered across eras Key developments in the entrepreneur experience are considered across eras Video interviews with Babson College experts provide insight into the history of entrepreneurship

The face of entrepreneurship

Ask the average person to name a few entrepreneurs. If they know what an entrepreneur is (and often they do not), you can almost certainly predict their response. It’s Bill Gates. It’s Henry Ford. Or, it’s that guy who created Facebook. Who comes to mind is telling. This is the face of entrepreneurship in the United States.

Given that the national conversation about entrepreneurship is relatively new (starting in earnest in just the last two or three decades), it’s surprising how limited the narrative about the entrepreneur experience is — neither broad or inclusive enough, lauding a culture of invention and fame, and shining a spotlight on a narrow set of industry sectors.

Identifying distinct eras

But how did we arrive at this particular narrative? To find out, we decided to look at the endeavor of enterprise in the U.S. from the time of the first colonies to the present day. Our objective was to identify distinct eras — eras based on the dominant characteristics of entrepreneurship — and to show changes and key differences in these characteristics over time.

As we see it, the story unfolds across five eras to bring us to the current narrative. From the emergence of the self-made man to an entrepreneurial nation, a culture of entrepreneurship is front and center as the nation grows. Everyone can be an entrepreneur. At the pinnacle of the industrial revolution, this culture is gradually marginalized or subsumed by institutional America which becomes the focal point of enterprise. With the shift into a knowledge economy, entrepreneurs seem to explode onto the scene again but largely within the confines of the tech and R & D transfer sectors. For those outside of these domains, support is limited or hard to attain.

An interactive map

Explore our interactive map of the five eras. Each era story is told through seven dimensions:

  • The icons: the people who are the symbolic face of entrepreneurship in any given era
  • Entrepreneurial roles: the predominant occupations people engaged in
  • Definitions: distinct theories proposed by different schools of economic thought
  • Dominant economic activity and opportunities
  • Government activities in support of entrepreneurs
  • Financial support for entrepreneurs
  • Educational opportunities available to entrepreneurs

Explore the Map

Explore the Map

Tips for Navigating the Era Analysis

Screen capture: navigation
Explore the eras by dragging on the timeline slider. (You can also click directly on the timeline.)

Screen capture: links to major sub-sections
Clicking through the links in the major sub-sections of the page brings up an expanded analysis of key developments in the entrepreneur experience featuring video interviews with Babson College experts.