We conducted a longitudinal study of a creativity-based process model of opportunity recognition. Our findings suggest three elaborations: First, there are multiple layers/levels concurrent creative processes taking place in any given opportunity recognition process; each creative process results in a creative product; and creative products feed back into the overall process. Additionally, a critical transition was found in which the process “turned into something completely different” upon selection of a concept. Finally, two modes of opportunity development were observed, one in which the final concept was conceived early and survived by withstanding criticism and one in which the concept evolved over time through an iterative process.