Over the past decade, new forms of Tibetan entrepreneurship have emerged and proliferated in China, at the intersection of a national push for entrepreneurship in response to a slowing economy, the closure of non‐governmental organisations in Tibetan areas, declining state‐sector employment, and state concerns about stability. This paper explores the rise of these new Tibetan entrepreneurs in relation to two inter‐related concerns. First, it contributes to geographers’ calls for comparative studies of culturally specific meanings of entrepreneurship across the Global South. It explores the cultural politics of Tibetan entrepreneurship – active debates about what it means to be a proper Tibetan, in terms of religious commitments and cultural pride, in relation to money‐making activities. Second, it analyses these in relation to critiques of neoliberal subjectivities associated with entrepreneurship. One of the key themes of Tibetan entrepreneurship is the effort to create economic value in the service of cultural value and a sense of self‐worth for Tibetans living in rural areas. Thus, elements of the neoliberal self are sutured together with a sense of responsibility to Tibetan communities and historically sedimented idioms to form an entrepreneurial subjectivity that is broadly oriented to the project of revalorising Tibetan places and people.