Nearly 1 in 5 people in the world lives in poverty. Even in many developed countries such as the U.S., poverty rates exceed 12%. In an age of breathtaking technological progress and dynamic social change, poverty remains stubbornly persistent.

As a professor of entrepreneurship, I'm interested in a critical question: Can people in poverty create their own path to prosperity? In other words, is venture creation a viable poverty alleviation tool?

My work has shown that it can be -- with the right kind of support. However, that support is often lacking.

A big part of the problem is ignorance: Most people simply don't know much about poverty and entrepreneurship. There are plenty of myths when it comes to the ventures of the poor, due in part to the lack of hard data about the businesses of those in poverty.