New Delhi, April 30 -- Many years ago, in 1971, Peter Kilby wrote that understanding entrepreneurship is like hunting a 'heffalump,' a fictional elephant-like creature from Winnie-the-Pooh.

Many claim to have captured it, but their descriptions do not match and no two agree on what it looks like. After centuries of research, we are still arguing about what an entrepreneur really is. Is an entrepreneur a risk taker, an innovator, a manager, a social outsider or just someone who got lucky?

If you look around India today, you will see this confusion in everyday language. A vegetable vendor who adopts UPI, a startup founder in Bengaluru, a second-generation owner of a family business and a social entrepreneur in a village are all called 'en...