Extract

Entrepreneurial spirit plays a key role as a driving force of innovation, speeding up the venture creation process, and producing new goods and services (Venkataraman, 1997). For this reason, the European Commission and national governments are demanding an increase of entrepreneurial spirit in European countries (European Commission, 2003). In this context, the need to increase the venture creation rate is generally accepted nowadays. It is hoped that this increase will also contribute to the incorporation of technological, organizational, economic and social changes in the productive system that will allow an increasing international competitiveness. This need is more important at present, given the recessionary economic situation and the corresponding upsurge of high unemployment levels.