The choice of entrepreneurship and the individual entrepreneur in culture as an object of interest for this research, stemmed from the great interest in this phenomenon highly important in cultural development. Beside the theoretical and empirical views, and understanding of the subject, the most important aspect is the understanding of the problematic relationship of cultural policy towards entrepreneurship in culture. In the first part of this paper we briefly discuss different theoretical approaches to the study of entrepreneurship in culture. To study the social phenomenon of cultural entrepreneurship it is necessary to start with basic entrepreneurship in any sphere of social activity. In this paper, a brief overview of important theoretical approaches in field of entrepreneurship is also presented. The only answer to the question „Who are entrepreneurs in cultural entrepreneurship?“ this research gave is that such a person must be a visionary character, even though at times be labelled a daydreamer. The second part of this research examines the transformation that, with the arrival of political changes, transformed the Exit Festival from the cultural and artistic event organized in protest against the political regime, into one of the best music festivals in the world. That transformation is the result of a high concentration of the ability to create new values, according to new needs of society, and it represents an example of entrepreneurship in culture. To define cultural entrepreneurship, to show all its characteristics, and to show the desire to reveal a psychological profile of the cultural entrepreneur will certainly be examined in further researches. This paper gives basic directions for future efforts in the field.
