How do entrepreneurs recognise entrepreneurial opportunity?

How do entrepreneurs recognise entrepreneurial opportunity? ‘Opportunity recognition’ is challenging because opportunities are rarely self-evident, information and context dependent, and time variant. To comprehend the entreprenurial opportunity recognition process it is essential to explore the black-box of entrepreneurs’ sense-making for opportunity conviction, particularly those operating in the smaller Asian emerging market context. These emerging economies are witnessing global economic growth more acutely then elsewhere. Recognising the importance of this, we integrate three theories, actualisation approach, process theory of new venture creation and social network theory to explore the breadth and depth of entrepreneurial experience, and past entrepreneurial experience (both success and failure). We provide a new and holistic conceptual framework that extends previous attempts by integrating economic and non-economic objectives. Our framework more comprehensively explores the nature of entrepreneurial experience by incorporating its full effect on the sense-making process of entrepreneurs for opportunity conviction in an emerging market context.