The paper focus is on the role and the importance of creativity and innovation for the FGEs. The paper also shows the speed of change and development is beyond imagination in a way that creativity and innovation being the most fundamental principles of survival of an organization, and innovation is the most important source of competitive advantage. They have shown that money and luck are not enough for successful entrepreneurship, but entrepreneurship is a process that requires creativity, innovation, risk taking and planning. Innovation is considered as the key actions in the process of entrepreneurship.

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Keywords: First Generation Entrepreneurs, Entrepreneurship, Creativity, Innovation, Barriers.