An entrepreneurial company is one which was started from scratch by a person who was willing to take the risk to start up basing on an idea. The innovation behind this idea is the most important element of because it is what differentiates the company from others. In this case, Terracycle, founded in 2001 by Tom Szaky, would be the perfect example.
CEO, Tom Szaky wears the company's products that are made from waste
The job of collecting soda cans from schools helped Szaky see the potential business. Another crucial point about being a successful entrepreneur is to provide what consumers want and need. Szaky successfully realized the fact that customers have become increasingly eco-conscious. Terracycle turns old packaging into some of the coolest goods on the shelf. Also, its has a unique method of production, which is to have 9 million voluntary collectors to help collect a variety of wastes. These elements fall under Schumpeter’s definition of entrepreneurship.
One would also notice the risk that Szaky had to take when he decided to start up the company because after all, the products are literally made from garbage. Nevertheless, the company has created substantial wealth already within the ten years of operation.