This empirical study of 247 nascent entrepreneurs examines the joint effect of high ability and entrepreneurial confidence is influencing the choice of innovative entrepreneurship. We suggest that in their decision to pursue entrepreneurship aspiring nascent entrepreneurs seek to gain strategic advantages that allow their new ventures to enter and compete in a given marketplace. We argue that aspiring nascent entrepreneurs create such advantages by choosing innovative entrepreneurial projects as opposed to imitative ones. Our results support the hypothesised effects. Considering that innovation is one of the most important and desired outcome of entrepreneurship our results identifies sources of quality entrepreneurship in an economy.