Artificial intelligence (AI) is a game-changer in all fields of study, including entrepreneurship, and its potential in this area is yet to be fully harnessed. While AI in entrepreneurship research has been primarily used for data analysis, predictive modeling, and theory testing, its role in theory building is a crucial aspect that needs to be explored. The time is ripe for a paradigm shift in entrepreneurship research that leverages AI to uncover new patterns in datasets and connect unimagined and unrelated issues, laying the foundation for new theory development. The study presents an AI-enabled ‘Startup Evaluation Calculus Using Research Evidence’ (SECURE) to propose a new theory called the Entrepreneurial Advantage Theory (EAT). The principles of the proposed theory assert that those entrepreneurs will have an advantage in leveraging AI-enhanced information in business model design, development, and evaluation. Therefore, the entrepreneurial advantage is built upon AI-generated informational advantage, overcoming the subjectivity and uncertainty in business model designs, leading to higher entrepreneurial successes. By leveraging the supply and demand information from AI-informed micro- and macro-environmental parameters, entrepreneurs can effectively evaluate their business model designs, adjust strategies based on economic indicators, and achieve higher levels of success. This practical application of AI in theory development vividly demonstrates its potential to revolutionize the field of entrepreneurship.