Hunting the Heffalump: Just Who is an Entrepreneur?

The search for a definitive answer to the question “What makes an entrepreneur?” has occupied scholars and practitioners for decades. But what if the question itself is misplaced?

In the article ‘Hunting the Heffalump: Just Who is an Entrepreneur?’ for Mint, Dr. Suresh Bhagavatula, Entrepreneurship area, IIM Bangalore, revisits this enduring debate through economist Peter Kilby’s metaphor of the “heffalump” — a creature that is widely discussed, frequently claimed to exist, yet remains difficult to define with certainty.

Drawing on contemporary research, the article shifts the focus from individual traits to the dynamic relationship between people and opportunities, viewing entrepreneurship as a “nexus between people and opportunities”. In doing so, it offers a fresh perspective on how entrepreneurial action emerges and why defining entrepreneurs may be less important than understanding the contexts in which they operate.

Read the full article in the attached PDF.