Entrepreneurship and Innovation—Process Overlap or the Same? Systematic Overview and Converging Process-Dynamic Model

Abstract

Recently, there has been increased discussion of entrepreneurship and innovation as process-based phenomena. However, research on the essence of dynamic entrepreneurial and innovation processes and their simultaneous interactions needs to be more cohesive and well-covered. This article critically reviews prior publications and explores the process approach to entrepreneurial and innovation processes. Structuration and equivalence theory, systems and design thinking, and pattern matching theory were implemented to structure and synthesise a converged operationalised dynamic process model. Exploring different approaches to entrepreneurial and innovation processes by screening 468 publications on entrepreneurship and 527 on innovation and a critical review of prior findings, the article identified only 17 and 13 dynamic process models, respectively. Six structurally comparable models covering both disciplines were selected for further analysis. Both disciplines’ dynamic process models can be structured into five harmonised stages, which can partly be divided into (sub)phases. The article’s primary contribution to the theory is systematically integrating process-based and design approaches in entrepreneurship and innovation. As a result, a streamlined and converged dynamic process model is developed, and the role of the process venue and the entrepreneur or innovator is discussed. As a practical implication, future directions for entrepreneurship and innovation educators, policymakers, and entrepreneurial/innovation ecosystem stakeholders are presented at the end of the article.