<p> This multiple case study contributes to identifying the reasons behind the almost complete absence of high-growth ambition of early-stage entrepreneurs in Brazil by investigating why they did not develop similar cognitive frameworks as the countries high-growth entrepreneurs. The understanding of the reasons can assist in the planning of programs and policies directed toward the creation of the necessary conditions to increase the number of early-stage entrepreneurs with high-growth ambition and hence promote the country&rsquo;s economic growth and help fulfill its aspiration to transition from factor-driven to innovation-driven economic development. The reasons identified by the study were that the factors in the cognitive framework of high-growth entrepreneurs&mdash;self-efficacy as a personality trait, knowledge acquired from family and professional experience (human capital), and social capital acquired during a professional career&mdash;that explains their high-growth ambition are rare in Brazil. These factors are rare because high-growth entrepreneurs belong to the countries&rsquo; very small well-educated and empowered elite whereas most early-stage entrepreneurs in Brazil do not. Some additional findings of the study are: (1) There is no social upward mobility from self-employed to high-growth early-stage entrepreneurs in Brazil; (2) The low quality of the Brazilian education system required acquiring task-related knowledge through extensive professional experience to find high-growth entrepreneurial opportunities; (3) The task-related knowledge acquired mostly in multinationals lead to innovations to fill needs and market gaps in the Brazilian market, but not to breakthrough innovations.</p><p>