The development of the entrepreneurial capacity of European citizens and organisations is one of the key policy objectives for the EU and Member States. Ten years ago, the European Commission identified sense of initiative and entrepreneurship as one of the 8 key competences necessary for a knowledge-based society. The EntreComp framework presented in this report proposes a shared definition of entrepreneurship as a competence, with the aim to raise consensus among all stakeholders and to establish a bridge between the worlds of education and work. Developed through a mixed-methods approach, the EntreComp framework is set to become a reference de facto for any initiative aiming to foster entrepreneurial capacity of European citizens. It consists of 3 interrelated and interconnected competence areas: ‘Ideas and opportunities’, ‘Resources’ and ‘Into action’. Each of the areas is made up of 5 competences, which, together, constitute the building blocks of entrepreneurship as a competence. The framework develops the 15 competences along an 8-level progression model and proposes a comprehensive list of 442 learning outcomes. The framework can be used as a basis for the development of curricula and learning activities fostering entrepreneurship as a competence. Also, it can be used for the definition of parameters to assess learners’ and citizens’ entrepreneurial competences.