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Innovation is the powerful instrument of entrepreneurs through which they convert an opportunity into different business or a different service. A combination of innovation and entrepreneurship is a crucial factor to the long-term sustainability of any business. Entrepreneurship and innovation are absolutely connected to each other and helps an organization to flourish. It is the action that converts resources with a new aspect to create wealth. Entrepreneurs need to search intensely for the sources of innovation, the changes and indications that specify opportunities for successful innovation. Entrepreneurs need to know and to apply the principles of successful innovation. The book Innovation and Entrepreneurship delivers a wide coverage of issues involved in innovation and the development of entrepreneurship. It focuses on innovation related topics and presents a deep insight into the identification of business opportunities, creating small business, new product development and marketing, financing and managing the enterprise. The book is concluded with risk management and overcoming from the risk involved in developing a business. The book also highlights the various legal issues in developing a business and types of risks associated to in developing a small enterprise. The book would serve as an ideal text for various undergraduate courses, Engineering courses, BBA, MBA and for the entrepreneurs.