Entrepreneurship research gradually shifts from the entrepreneurs' trait theory to the research of entrepreneurial behavior and process, panel study of entrepreneurial dynamics, PSED for short, has made great contribution to the construction of the theory in this area. This paper systematically sorts out some important literature relying on the PSED project in recent years and explains the following three aspects: the features of start-up entrepreneurs, the features of new enterprise's creation process, and the results of new enterprise's creation process. On the above basis, this paper explores the future research opportunities of the PSED project research.