Theories about entrepreneurial discovery are important to entrepreneurship. However, the dominant conceptual foundation underlying such theories hinders their development. It assumes that opportunities form based on either deliberate search or serendipitous discovery. I examine this unidimensional logic and identify a gap in its informative content. Then, I reframe it into orthogonal dimensions. The multidimensional model not only describes the same cases as the unidimensional model but also describes what the unidimensional model cannot, including cases that are high or low on both dimensions. This extension yields a 2×2 conceptual foundation for entrepreneurial discovery theory that promotes the development and coordination of distinct theoretic streams. © 2010 Baylor University.