Linking innovation and entrepreneurship – literature overview and introduction of a process-oriented framework

Abstract

The terms innovation and entrepreneurship are commonly used – but not always with the same understanding. There is an obvious strong relationship of both areas, however, barely articulated. Moreover, so far there is few consensus among researchers regarding innovative and entrepreneurial activities in general, especially when it comes to precise definitions. Hence, this paper gives an overview of relevant literature in both areas. In this context, relevant terms and definitions and recent models linking innovation and entrepreneurship are discussed and presented. Finally, a comprehensive framework for future considerations is introduced.