This report analyzes state and local incentives for entrepreneurial firms and offers guidance for offering them. It addresses the definitional problem that “entrepreneurial firm” and “incentive” are used inconsistently, then builds a typology: the most common incentive types are financial, fiscal, and services, generally divided between two targets — small business entrepreneurs and innovation- or technology-oriented entrepreneurs — with new or young firms rarely named as the target. It documents six implementation findings: incentives are a minor component of the entrepreneurial ecosystem; program rules can inadvertently constrain access; awareness and access remain a challenge; most programs assist very few firms; BIPOC- and women-owned businesses and firms in rural and distressed urban areas remain underserved; and careful design and active management improve effectiveness. On outcomes, it reports that small business lending programs can work but are usually too small to have substantial impact; public equity programs carry significant risk; grants show positive firm-level effects but limited community reach; angel investor tax credits show mixed results and can flow to insiders; tax incentives are poorly suited to firms with little tax liability; and services generate positive firm-level effects, though the most valuable service types are unclear. It concludes with three recommendations: design incentives to leverage other resources and boost the ecosystem, strengthen management and implementation procedures, and establish data and research standards so evaluations can determine best practices.