Influential Article Review - Understanding Innovation through Leonardo Da Vinci's Vitruvian Man Entrepreneurs

Abstract

This paper examines entrepreneurship. We present insights from a highly influential paper. Here are the highlights from this paper: The vital role of entrepreneurship for economic growth and its impact for job creation in mature and developing economies is widely recognized and quantified (OECD, Entrepreneurship and Business Statistics, 2015).According to Get2 Growth data (How Many Startups Are There?, 2015), 100 million start-ups are created each year of which 1.35% are technology-based companies, and according to the Kauffman Index of Entrepreneurial Activity (Fairlie, 2013), almost a quarter of new businesses in the USA were started by entrepreneurs aged 55 and older. Survival following failure data for start-ups are numerous and complex in the interpretation, and data presented by the Statistic Brain (Startup business failure rate by industry, 2015) show a 55% failure rate within the fifth year .Entrepreneurship is important for growth but sustainable entrepreneurship is hard to achieve. This paper, by means of a case study of a German private art museum “Kunstmuseum Gehrke-Remund'', analyzes the disruptive methods, both atypical and contrary to the mainstream art industry, developed to ensure the sustainable success of such an innovative endeavor. Our analyses and results contribute to the understanding of the building blocks and roadmap designed by the Kunstmuseum to successfully enter the elitist contemporary art industry, as an outsider, and provide an early indication that such methods can be theoretically replicated in other industries by other entrepreneurs. For our overseas readers, we then present the insights from this paper in Spanish, French, Portuguese, and German.