Shane and Venkataraman (2000) state that entrepreneurship “…involves…the processes of discovery, evaluation, and exploitation of opportunities...” Despite its importance and the research attention it has received to date, the process of opportunity recognition (OpRec) is not as well understood as it might be. Our study adds to the literature by combining regulatory focus (RF) with elements from prior research on creativity to expand the conceptual understanding of OpRec. Some scholars have described OpRec as a creative process, others have tested the effects of RF on creativity but to date no one has combined the two in a single experimental design. Specifically, we examine the effect of RF on the generation and evaluation/selection of business ideas as well as the novelty and usefulness of ideas selected.