This work examines the entrepreneurial function from an economic perspective, focusing on how it drives innovation and the reallocation of resources in response to changes in the economy. It defines entrepreneurs as agents who identify and harness business opportunities arising from societal change. In this analysis, the Austrian School of Economics’ Evenly Rotating Economy concept serves as the theoretical basis to comprehend how entrepreneurs operate in a dynamic, ever-changing world and the role they play in economic growth. Different types of entrepreneurial opportunities are explored and classified, according to their origin and nature. Technological change unlocks the greatest opportunities but also brings higher levels of uncertainty. Technological entrepreneurship is particularly important in the knowledge society, as it fosters advances that drive productivity and economic development.