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The conclusions argue that artificial intelligence, despite its disruptive nature, does not undermine the essential role of innovative entrepreneurship within capitalism. While AI reshapes entrepreneurial processes and competitive dynamics, the persistence of entrepreneurial space depends primarily on institutional arrangements and policy choices. Preserving a dynamic and socially valuable form of capitalism in the AI era ultimately hinges on human agency rather than on technology itself.
Chapter 1 provides a conceptual overview of innovative entrepreneurship and its role in contemporary advanced economies. Largely AI-free by design, the chapter serves as a micro-founded point of departure for the analysis developed in the rest of the book. It first revisits the role of the entrepreneur in introducing innovation, contrasting entrepreneurial activity with innovation carried out by large firms, and situates this discussion within the Schumpeterian Mark I and Mark II frameworks. The chapter then examines how institutions shape the direction and quality of entrepreneurial effort, drawing on the classic contributions of North and Baumol. The chapter subsequently outlines the main stages of the entrepreneurial process – idea identification or creation, evaluation, and exploitation – adopting the term ‘entrepreneurial idea’ rather than ‘opportunity’. Then, it focuses on the three core pillars of innovative entrepreneurial success: founders’ human capital, social capital, and access to financial capital, with particular emphasis on venture capital. While explicitly rejecting deterministic interpretations of entrepreneurial outcomes, the chapter distances itself from views that reduce entrepreneurial success to purely random processes. It argues instead that these three pillars systematically increase, on average, the likelihood that innovative start-ups survive, grow, and succeed in the market.
Developing a business model that is both scalable and sustainable is fundamental to successful modern-day entrepreneurship. Grounded in up-to-date theoretical research and supported by practical guidance that students can replicate themselves, this textbook gives a holistic overview of effective business model development that is applicable across industries, geographies and both for-profit and non-profit contexts. Utilising an innovative and dynamic 'wheel' framework, the textbook takes readers through five key elements to explore when building their own business models. Each chapter promotes active learning through the inclusion of opening case studies with associated discussion questions, exercises, key takeaways and 'how-to' guides, with the option to increase depth of understanding through further readings and links to multimedia resources. Written in an accessible, student-centred voice, this book is essential reading for undergraduate, postgraduate, MBA and executive programmes in entrepreneurship, while also providing a go-to, self-guided pathway for aspiring entrepreneurs with or without business backgrounds.
Most AI PhDs build careers outside academia, and leaving the faculty track does not mean leaving meaningful research behind. This chapter surveys common paths, from industrial research labs and applied teams to startups, public sector, and nonprofit work, highlighting the trade-offs each environment brings. It then distills the core skills a PhD develops—problem formulation, rigorous analysis, clear communication, leadership, and resilience—and shows how they translate across sectors. The chapter closes with practical guidance for choosing among options, using conversations, internships, and short “trial runs” to learn what fits, and keeping in mind that many careers involve moving between sectors over time.
Artificial intelligence is often portrayed as a force set to radically transform entrepreneurship. This book takes a more analytical approach, asking what AI truly changes-and what it does not—about the role of innovative entrepreneurs in advanced capitalist economies. Integrating AI into established economic theories of entrepreneurship, Luca Grilli develops new conceptual frameworks informed by emerging empirical evidence on the nature of AI entrepreneurship. His analysis shows how AI frequently reinforces incumbent advantage while also generating forms of systemic lock‑in around large, AI-driven ecosystems. These dynamics risk narrowing the space for genuinely innovative ideas, thereby reshaping the conditions under which entrepreneurship can thrive. Against this backdrop, The AI Entrepreneur reflects on how institutions and economic policy can safeguard space for entrepreneurial agency, preventing the AI entrepreneur from becoming a postmodern simulacrum confined within increasingly 'fenced' forms of capitalism.
The Design Society unites researchers and practitioners to advance innovative engineering design. As entrepreneurship grows in importance, integrate design principles into its education seems necessary. This paper reviews Design Society publications to map how entrepreneurship, education, and sustainability intersect, it identifies the Design Society’s contributions in the field to propose strategies and future research to strengthen its influence. It highlights the possible role of the Design Society in leading education advancements in entrepreneurship and sustainability.
Mexico City was America's largest city in the seventeenth century – a genuine metropolis. In this deeply researched book, Tatiana Seijas reveals a rich tapestry of stories about essential workers who remade and transformed the city during this period. Her narrative style carries readers to a unique place and time with residents from around the world who sold food, facilitated transportation, provided care, and valued the city's silver. Free and enslaved people from Africa and Asia, immigrants, and Native Americans pursued opportunities in a wealthy, yet deeply unequal environment, where working people claimed parts of the city for themselves. They carved out spaces to create new businesses and protect their livelihoods, altering the cityscape itself in the process. American Metropolis brings Mexico City to life from the perspective of the working people who transformed this early modern metropolis.
This article examines the role of Dutch merchants, entrepreneurs, and artisans in the circulation of technological knowledge, skills, and commercial expertise between the Low Countries and the Grand Duchy of Tuscany in the early seventeenth century. Focusing on projects promoted under Grand Duke Ferdinando I de’ Medici, it analyses attempts to introduce sugar refining, salt processing, and mill technologies into the port of Livorno. Rather than treating innovation as a simple transfer of techniques from one place to another, the article shows how technological circulation depended on the mobility of skilled actors, the mediation of commercial networks, and the support of political authorities. At the same time, it highlights the fragility of these processes: even under favourable legal and economic conditions, migrant ventures could fail or remain incomplete. By reconstructing the interactions between Dutch entrepreneurs, intermediaries, and Medici officials, the article argues that early modern technological innovation emerged from negotiation, adaptation, and the practical use of embodied expertise in a new environment. In this way, the Livorno case shows both the opportunities and the limits of migrant-driven innovation in the early modern Mediterranean and contributes to a broader understanding of how mobility shaped technological circulation on the ground.
Compares Stanford and UC Berkeley to illustrate how dynamic capabilities shape institutional trajectories. Examines differences in governance, funding, culture, and leadership. Highlights how Stanford’s proactive engagement with industry led to its rise, while Berkeley’s slower adoption of entrepreneurial practices posed challenges.
The nineteenth-century British cooperative movement identified competition as the central feature of the mode of production dominating the British economy. Most often, cooperators took the competitive system to be the antithesis of their own system of mutual assistance. Yet John Stuart Mill, even while endorsing and predicting the replacement of the capitalists’ economy with a cooperative one, insists that this new mode must not desert competition. Mill holds that without competition a cooperative system will fail to achieve progress. Competition between cooperative associations is necessary to encourage investment and technological change. As an outstanding classical economist, Mill might reasonably have been expected to develop a theory of the dynamic equalization of returns across cooperative industries. But Mill fails to complete his theory of cooperative competition. He leaves numerous questions unaddressed. In particular, he does not explain what will happen to cooperatives that fall behind. Are these a source of unemployment? Will there be a business cycle? How will new products be developed? At root, Mill fails to develop a theory of entrepreneurship under cooperation.
In times of deep uncertainty, the 'entrepreneurial university' needs to be able to transform itself, when necessary, to maintain long-term evolutionary fitness. Dynamic Universities explores how strategic, entrepreneurial leadership can help US higher education institutions thrive amid unprecedented challenges. Drawing on the dynamic capabilities framework, David J. Teece and Sohvi Heaton provide a strategic roadmap to help university leaders identify emerging opportunities and threats, take decisive action, and sustain competitiveness by enhancing, safeguarding, and reconfiguring key institutional assets – ultimately driving long-term transformation and success. Through compelling case studies – including Stanford and Berkeley – and interviews with global university leaders, this book offers practical insights into managing complexity, fostering innovation, and building resilient academic ecosystems. It is essential reading for administrators, policymakers, and anyone interested in the future of higher education.
The field of drug studies is increasingly challenged by the rapid digitalisation of drug markets, raising the importance of reconsidering how drug laws and policies respond to the role of technologies in the drug trade, and their social impact. This chapter considers the famous case of Maximilian Schmidt, who was accused of setting up Germany’s largest digital drug shop under the alias Shiny Flakes and became the subject of media stories and Netflix TV productions. The case offers an opportunity to explore how the move to digitally mediated drug supply has altered the ways in which phenomena such as the ‘dealer’ and ‘dealing’ are constituted in socio-technical and legal contexts.1 Research shows that digital drug markets pose serious challenges to jurisdictional and regulatory frameworks and governments require costly and laborious police operations to adapt to the rapid development of these markets (EU Drugs Strategy 2021–2025, 2021; UNODC, 2022). Following the transition of drug markets and traditional dealer activities to digitally mediated formats, it has become important to consider how drug dealers and dealing are constituted and handled in law, and whether the technological means of dealing are reshaping how questions of responsibility, ‘harm’ and entrepreneurship are being understood.
In the early twentieth century, the Malayan pineapple was the cheapest but most consumed canned fruit in Britain, most of which was produced by local Chinese enterprises in British Malaya. Current historiography of the Malayan pineapple industry has highlighted its lack of automation and branding that made the canned pineapples low quality and therefore cheap; a consequence of colonial commodity production framework that prioritized rubber exports. A key assumption is that Britain’s high demand for Malayan pineapples was mainly driven by the harsh economic conditions during the Depression years. However, using previously unexamined colonial newspaper reports and archival sources on the Empire Marketing Board, this study sheds light on how two representatives of the pineapple industry—Tan Kah Kee and Lee Kong Chian—actively leveraged colonial ties and production cheapness to corner imperial markets. This study’s contribution is two-fold. First, it expands the Malayan pineapple industry’s current historiography by situating it within the broader debates on imperial marketing, commodity chains, and local entrepreneurship. By focusing on the marketing strategies which Chinese entrepreneurs devised within a colonial framework, it adds nuance to the literature on local entrepreneurship and the trajectories of a secondary commodity sector in British colonies. Second, it challenges the predominantly ethnically essentialist readings of Chinese business strategies under colonialism of Southeast Asia, by demonstrating how intra-ethnic cooperation was not always effective in business modernization. In this case, leveraging colonial and imperial ties to navigate colonial logic in commodity trade and production was more useful, even though its success was transient.
In the fifteenth century, Portuguese economic migrants frequented the African coasts to trade in gold and captives. From the seventeenth century onwards, African trade attracted other French, English, and Dutch migrants, who, individually or grouped together in trading companies, settled on African coasts as part of a global trading economy based on the circulation of goods, ideas, knowledge, know-how, and techniques. These exchanges fostered a cultural and racial melting pot in the trading cities of Gorée and Saint-Louis. Indeed, the union between Europeans and the women of Senegambia fostered the birth of a new Afro-European social class that served as an intermediary for commercial activities and technological dialogue. In the second half of the eighteenth century, thanks to their wealth from the slave economy, Afro-Europeans contributed to the urban transformation of the towns of Gorée and Saint-Louis, replicating Provençal houses built using European and local techniques and materials. Following the prohibition of the slave trade by the Congress of Vienna in 1815, the royal French administration embarked on a slow process of urban transformation in Saint-Louis, the first French city in West Africa, attempting to construct public and military buildings and impose a European-style urban planning.
In the 1890s a small group of Japanese men settled in a Pacific Island group of Truk (today called Chuuk, located within the federated states of Micronesia). The settlers, who found home in several of the islets surrounded by one of the world’s largest coral reef lagoons, arrived a few decades before the islands became occupied by the Japanese navy and eventually went under Japanese colonial rule with the mandate from the League of Nations in 1920. These earliest migrants had lost their privilege and financial base in the recent regime change in Japan. They are often seen as a pioneer of Japan’s southward imperial expansion, but a closer look reveals that the core of their activity was the export of copra in exchange for contraband firearms. They managed to carry out this trade due to the access to firearms in Japan as well as the kinship network that they forged with Trukese Islanders and other settlers from Europe. By examining the economic and sociocultural background of this copra-dynamite trade in Truk, this paper tries to show how entrepreneurship by migrants could be conditioned by global flows of technological innovation and the conditions of the migrants’ home country.
Abstract: Dewey’s critique of capitalism centered on the concentration of economic power, the commodification of education, and the corrosive effects of consumerism. However, as McVea argues in this chapter, Dewey’s pragmatist philosophy aligns with alternative economic approaches, such as Austrian economics, which emphasize the entrepreneur’s role in navigating an evolving, uncertain world. As McVea shows, a Deweyan perspective highlights the role of imagination in entrepreneurial decision-making. Entrepreneurs, like artists, engage in dramatic rehearsal, mentally simulating potential futures and harmonizing their ventures with stakeholders and changing environments. This imaginative deliberation is not fantasy but a grounded, experimental process that fosters ethical engagement and continuous adaptation. Rather than maximizing financial returns, the pragmatist entrepreneur seeks to create and recreate harmony among stakeholders. McVea concludes that by integrating ethical reflection into decision-making, entrepreneurs can drive innovation while fostering human flourishing. This approach challenges conventional university business education, calling for new curricula that cultivate moral imagination and responsible value creation.
This chapter explores the contributions of social and personality psychologists to the development of Cold War liberal philosophy and social theory. Psychologists helped to define “totalitarianism,” one of the central concepts of Cold War liberalism, as an expression of individual psychopathology – a result of the failure of people in a given society to develop a coherent, healthy sense of self. This state of psychological health, the antidote to totalitarianism, was often referred to as the “productive” character or personality and was defined by an individual’s capacity to express their selfhood in creative work. Cold War liberals identified myriad techniques to promote the productive character and discourage totalitarian psychopathology, including social-democratic policymaking, new childrearing methods, and the practice of both scientific research and spiritual searching. They also sought to develop productive characters in the supposedly psychologically immature societies of the postcolonial world, an elite-driven approach to social and economic development that laid the groundwork for the rise of neoliberalism and neoconservatism in the late twentieth century. The productive, anti-totalitarian personality, argued many Cold War liberal development experts and their neoliberal and neoconservative successors, was an entrepreneurial personality, the psychic wellspring of economic growth.
This study offers a systematic and theory-informed integrative synthesis of research at the intersection of artificial intelligence (AI) and entrepreneurship. Although interest in this domain has expanded rapidly, existing research remains fragmented, technology centered, and weakly connected to theories of entrepreneurial decision-making. To address this gap, the study adopts a hybrid review design that combines a systematic literature review with bibliometric co-word analysis and thematic synthesis. Based on 372 articles indexed in the Web of Science (WoS) Core Collection (2010–2025), the analysis maps the intellectual structure, thematic landscape, and temporal evolution of AI–entrepreneurship research. Four thematic quadrants are identified, reflecting core applications, transversal foundations, isolated specializations, and peripheral themes. The synthesis shows that AI is largely conceptualized as a functional input, while cognitive and behavioral dimensions of entrepreneurial judgment remain marginal. Building on these insights, the article proposes a cognitively informed research agenda to guide future work.
Over the course of seven years, the Tata center recruited and trained more than 200 graduate students from 18 different MIT departments to design and implement energy solutions that are practical and reliable in the developing world. Their work produced 45 patents, 12 commercial licenses, and over a dozen startups. This chapter demonstrates the method for implementing similar programs, with a focus on energy-related research projects. The program leaders describe their project as “CPR for Engineers,” with a three-axis model focusing on developing Compassion, Practice, and Research.