Intangibles and investments in them have become hallmarks of the Knowledge Economy, with over 90% of the market value of the S&P 500 derived from intangible assets. As most entrepreneurial startup (ESU) acquisitions are strategic, larger firms often acquire ESUs primarily for their intangible assets—especially intellectual capital. Conversely, for ESUs to command higher premiums in exit events, they must develop unique value propositions tailored to trade sales and M&A customers. This value is created, captured, and extracted through the development of Intellectual Capital (IC), which includes human, organizational, relational, and social capital. As a result, investments focus on new venture development (NVD), where IC development costs play a key role in mediating value capture and moderating value extraction to achieve high valuations upon exit. This new organizational model represents a paradigm shift from the traditional industrial focus on new product development (NPD), which prioritizes one-year profitability goals, to investing in new venture development (NVD). NVD aims to create, capture, and ultimately extract enterprise value over a multi-year horizon, with the goal of exits primarily through trade sales and, to a lesser extent, IPOs.