The Buddhist Kingdom of Bhutan enjoys global fame for its pursuit of GNH (Gross National Happiness) as an alternative model of development. An increase in youth unemployment has made Bhutan look to entrepreneurship as a possible solution, prompting a need for entrepreneurship education. But what could entrepreneurship education look like in a context where policies and culture promote simple living and contentment, are cautious with regard to cultural change, and seek to constrain wealth accumulation of private sector entrepreneurs? This essay offers a number of suggestions for entrepreneurship education guided by GNH principles.