Opportunity Identification Vs Opportunity Creation

I participated in a seminar on opportunity identification and opportunity creation. While preparing for this topic there is mostly research available related to identification of opportunities. There are even systematic models available how opportunities can be identified. It is also favored by researches as well as venture capitalists due to the reason that identified opportunities raise due to the market gaps, and it is easy for the investors to measure the level of risk related to filling that gap. Hence deciding to capitalize on the opportunity or otherwise.

The opportunity creation is what an entrepreneur has to do. In creation, there is not a lot research available. The reason is that risk can be calculated though financial tools like NPV etc however how can one measure the uncertainty. Due to the reason that whenever an opportunity is created while thinking out of the box, the level of uncertainty raises so much that very few people are will to invest in your venture. However now opportunity creation is becoming the focus of research where we are trying to focus that how new opportunities can be created instead of just identification.