Quick Summary
Entrepreneurship is one of the most exciting and challenging career paths, offering individuals the opportunity to create innovative solutions, solve real-world problems, and make a lasting impact. Not all entrepreneurs follow the same journey-each type has its own unique approach, goals, and way of doing business.
Some entrepreneurs focus on small, local businesses with steady profits, while others build scalable startups that leverage technology to disrupt markets. There are also social entrepreneurs who prioritize social and environmental impact, and intrapreneurs who innovate within existing companies. Additionally, classifications like innovators, imitators, hustlers, and buyers reflect how different entrepreneurs approach new ideas, growth, and business acquisitions.
Understanding these distinctions helps aspiring entrepreneurs identify their strengths, align with the right business model, and increase their chances of long-term success. In this guide, we also explore real-life examples of entrepreneurs from India and around the world, providing practical insights and inspiration to navigate the entrepreneurial landscape effectively. Whether you’re an aspiring entrepreneur or simply curious about business dynamics, this resource offers a comprehensive look at the different types of entrepreneurship and strategies that drive success.
An entrepreneur is a person who identifies a need in the market and creates a business to address it. They take on risks to earn profits and provide goods or services to consumers. Entrepreneurs often innovate and work on new ideas, products, or services that can change industries and improve lives.
There are several types of entrepreneurs based on their business goals, strategies, and the industries they work in. Understanding these types can help you decide which path best suits your interests and goals.
Here are the most common 12 types of entrepreneurs with examples:
Let’s explore these all types of entrepreneurs one by one in detail:-
Innovative entrepreneurs are the ones who bring something new to the table. They come up with unique ideas, products, or services that have never been seen before. These entrepreneurs are driven by a desire to create something different and often change the way people live, work, or think.
Imitative entrepreneurs are the opposite of innovative entrepreneurs. Rather than coming up with entirely new ideas, they replicate successful business models and improve upon them. These entrepreneurs reduce the risks of failure by copying proven business ideas and introducing small modifications to cater to local markets.
Social entrepreneurs focus on solving social problems while still generating profits. Their goal is to make a positive impact on society. They create businesses that address issues such as poverty, health, education, or the environment. Unlike other entrepreneurs, social entrepreneurs balance profit-making with creating social value.
In today’s digital age, tech entrepreneurs are among the most popular and influential. These entrepreneurs focus on creating businesses that leverage technology to solve problems or offer new services. They usually operate in industries like software development, mobile apps, artificial intelligence, and e-commerce.
Scalable start-up entrepreneurs are those types of entrepreneurs who build businesses with the goal of rapid growth. They often look for venture capital to fund their growth and aim to scale their business quickly. These entrepreneurs typically target high-demand industries and seek to create products or services that can be sold to a large market.
Small business entrepreneurs are the backbone of local economies. These types of entrepreneurs start and run small businesses that are not aimed at becoming large corporations but rather serve local communities. They often rely on personal savings or loans to finance their businesses.
Lifestyle entrepreneurs build businesses around their passion or lifestyle. These types of entrepreneurs prioritize work-life balance and seek to create a business that allows them to enjoy their lifestyle while earning an income. They may not be as focused on large-scale profits but rather on maintaining their preferred lifestyle.
Corporate entrepreneurs, or intrapreneurs, are employees within a company who think and act like entrepreneurs. They innovate within an established organization and work on new projects or products that contribute to the company’s growth.
This type of entrepreneurship is usually seen in large companies that have been formed through innovation. These companies start from a small setup and then gradually grow into large enterprises.
Research entrepreneurship is based on research work in different fields such as healthcare, biodiversity, etc. Usually, these types of entrepreneurs get their funding from grants and donations and even collaboration and partnership.
Example- A biotech startup (drug research).
This is also known as digital entrepreneurship. These companies usually comprise online-operated businesses such as e-commerce, digital marketing, social media, etc.
Example: Amazon
This is also known as global entrepreneurship. It includes businesses or companies that operate internationally or at a global level. The target market is also international.
Green Entrepreneurs, or eco-preneurs, are business owners who create products or services that are environmentally friendly, promoting sustainability and reducing harm to the planet.
Example: Phool.co, which makes incense and biodegradable products from recycled temple flowers.
Read More:
| Type of Entrepreneur | Core Focus / Goal | Risk Level | Example of Entrepreneur | Best Suited For |
| Innovative Entrepreneur | Creating new products/services that disrupt markets | High | Steve Jobs (Apple) | Visionaries with creative ideas |
| Imitative Entrepreneur | Copying & improving existing business models | Medium | Domino’s Pizza in India | Entrepreneurs wanting lower risk |
| Social Entrepreneur | Solving social problems while earning profit | Medium | Muhammad Yunus (Grameen Bank) | People driven by social impact |
| Tech Entrepreneur | Leveraging technology to solve problems | High | Mark Zuckerberg (Facebook) | Tech-savvy innovators |
| Scalable Start-up Entrepreneur | Rapid business growth & large market reach | High | Travis Kalanick (Uber) | Founders seeking venture funding |
| Small Business Entrepreneur | Serving local/niche markets sustainably | Low | Local tailor or grocery shop owner | Community-focused entrepreneurs |
| Lifestyle Entrepreneur | Aligning business with personal passions | Low-Medium | Travel bloggers, YouTubers | People valuing flexibility & work-life balance |
| Corporate Entrepreneur (Intrapreneur) | Innovating within a large company | Low | Internal product leaders in Google | Employees with entrepreneurial mindset |
| Research Entrepreneur | Creating products from academic/scientific research | High | Biotech startup founders | Researchers & scientists |
| Cyberpreneur | Running internet-based businesses | Medium | Jeff Bezos (Amazon) | Digital-first business owners |
| International Entrepreneur | Operating across global markets | High | Elon Musk (Tesla, SpaceX) | Founders with global ambitions |
| Large Company Entrepreneur | Innovating in established enterprises | Medium | Leaders at Microsoft, Tata | Corporate innovators |
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Know more about the qualities of an entrepreneur here.
If you are considering starting a business, it’s important to identify which type of entrepreneur you align with. Knowing the types of entrepreneurs can help you make informed decisions about your business model, your goals, and your approach to risk and innovation.
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Understanding the types of entrepreneurs in India is the first step toward building a successful and fulfilling business journey. By reflecting on your strengths, passions, and long-term goals, you can identify the type of entrepreneurship-whether innovative, social, or small business-focused—that best aligns with your vision.
Each entrepreneurial path offers unique opportunities. Whether you see yourself as an innovator, hustler, or social entrepreneur, the key is to recognize your personal style and apply strategies that turn ideas into sustainable ventures. True entrepreneurship goes beyond profits—it’s about solving problems, creating value, and making a meaningful impact in society.
Tip: Share your entrepreneurial journey online—through blogs, LinkedIn posts, or short-form videos. Documenting your progress not only builds trust and authority but also attracts visibility, collaboration, and new business opportunities.
By focusing on your strengths, aligning with the right business model, and embracing consistency, you can transform your vision into a thriving business while inspiring others along the way.
Read about more such informational and interesting business-related resources in our Business section.
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The four main types of entrepreneurs are innovative, small business, scalable start-up, and social entrepreneurs, each with distinct goals, approaches, and impacts on the business and society.
An entrepreneur is an individual who starts and manages a business, taking financial risks to earn profits. Types include innovative, social, small business, scalable start-up, lifestyle, and corporate entrepreneurs.
The most common type of entrepreneur is the Small Business Entrepreneur. These entrepreneurs run businesses like local shops, restaurants, and service providers, catering to their community and creating jobs locally.
This qualification is aimed at enabling aspiring or practising leaders and managers to explore the principles of entrepreneurial practice, understand the different contexts in which entrepreneurship can flourish, and the characteristics of entrepreneurial leadership.
Yes, Bill Gates is widely recognized as an entrepreneur. He co-founded Microsoft, one of the world’s largest software companies, and is known for his entrepreneurial spirit, business acumen, and contributions to the personal computer revolution.
In India, there are several types of entrepreneurship, including small business, scalable start-up, social, innovative, corporate, rural, and green entrepreneurship, each catering to different markets, goals, and business models.
An intrapreneur is an employee within a company who thinks and acts like an entrepreneur, driving innovation, developing new ideas, and creating value while working within the organization’s existing resources and structure.
The number of entrepreneurs worldwide is constantly changing, with millions starting businesses each year. In India alone, there are over 58 million entrepreneurs, making it one of the largest entrepreneurial hubs globally.
One of the most famous entrepreneurs of India is Ratan Tata, former chairman of Tata Group, known for transforming it into a global conglomerate and inspiring ethical, impactful business leadership.
A social entrepreneur is someone who develops innovative solutions to address social, cultural, or environmental issues, aiming to create positive change while ensuring sustainability, rather than focusing solely on profit-making.
Authored by, Samiksha Samra
Digital Content Writer
Samiksha is a writer with a passion for sharing ideas and a knack for detail. She loves turning concepts into meaningful, engaging content. With a strong background in research and content strategy, she crafts clear, easy-to-understand narratives that resonate with readers. Her curiosity drives her to explore new subjects, ensuring every piece she creates is both insightful and impactful.
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Chegg India does not ask for money to offer any opportunity with the company. We request you to be vigilant before sharing your personal and financial information with any third party. Beware of fraudulent activities claiming affiliation with our company and promising monetary rewards or benefits. Chegg India shall not be responsible for any losses resulting from such activities.
