Opportunity Recognition (OR) Skill is often considered to be the most important skill needed for an entrepreneur. One of the few attempts to identify the components of this skill (Ucbarsan et al, 2003) has proposed that there are two approaches associated with it, namely, the developmental approach and the alertness approach, which they have measured using a 12-item questionnaire (8 items for the former and 4 for the latter dimensions). When the present authors administered this questionnaire to 279 respondents and subjected the data to factor analysis, the results did not conform to the findings of the original researchers. The analysis yielded 4 factors, which could be named as: Alertness, Problem-solving, Learning, and Implementation orientations. As the original questionnaire had limited numbers of items, the last two dimensions had only one variable each. The results point to the need for expanding the OR Skill questionnaire through a fresh (pilot) investigation. As there were 33 entrepreneurs among the respondents, for whom the data on their innovativeness and paths to entrepreneurship were also available, it was further proposed to explore the linkages, if any, among the nature of their innovativeness, paths to entrepreneurship and the dimensions of their OR Skills. For this analysis, we used the traditional classification of innovations as radical and incremental. An additional classification of innovations based on their functional areas was available from Manimala (1992), who identified ten such types going beyond Schumpeter's (1934) five. Factor analysis of these ten types of innovation had yielded four major dimensions, namely: Operations, Marketing, Organizational and Boundary management innovations. The present data showed that there are four major motives for entrepreneurship, namely: Innovation (28%), Growth (18%), Inheritance (18%) and Necessity (36%), which may be treated as four different paths to entrepreneurship. Associations of these paths and the major types of innovation with the components of OR Skill were tested. Based on these analyses, we have generated theoretical propositions that could be further investigated by future researchers.