HISTORY OF

ENTREPRENEURSHIP
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 Beginnings of
Entrepreneurship
• First entrepreneurs can be traced
to nearly 20,000 years ago.
• Took place in New Guinea around
17,000 BCE.
• Exchange was Obsidian for other
needed goods.
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 EARLY TRADE ITEMS

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 The Earliest Period
• Exhibited by Marco Polo,
merchant from Venice
• His market was Asia
• Agreements to capitalists to sell
goods
• Profits were divided
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 The Middle Ages
• Entrepreneurs were in charge of
production projects.
• Did not assume any risks. Only
manages resources.
• In charge of architectural works.

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 The 17 th
Century
• Associated with risks.
• Contracts with the government.
• Richard Cantillon
– “Entrepreneurs are risk takers
and bearers of uncertainty.”

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 The 18 th
Century
• Capital providers and ones who
needed capital.
• Start of the Industrial Revolution
• Eli Whitney – Cotton Gin
• Thomas Edison – Light Bulb &
Phonograph
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 COTTON GIN

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 PHONOGRAPH

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 The 19 th
& 20 th
Century
• Organizes and manages an
enterprise for personal gain.
• Andrew Carnegie – Steel
• Innovations in previous works.
• Recreate and revolutionize the
patterns of production.
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