The Entrepreneurial State of Mind: A Neuroscientific Perspective

Student thesis: Doctoral ThesisDoctor of Philosophy

Abstract

In many ways, entrepreneurial thinking represents the most unique aspect of human intelligence and thinking: the ability to innovate.

Entrepreneurs create and drive forward new ideas despite the inevitable uncertainty. Yet evidence behind how this can be trained and the neuroscience behind this thinking is poorly understood. There are many theoretical and opinion pieces on neuroentrepreneurship, but the empirical research is falling behind. The adoption of neuroscience into this field requires a shift in the entrepreneurship research model (Nicolaou and Shane 2014).

This thesis intersects entrepreneurship theories and cognitive neuroscience, employing comprehensive and novel methods to understand entrepreneurial thinking.

In Chapter 1, the theoretical context of entrepreneurship cognition is introduced, emphasizing the shift from studies of traits to the malleable aspects of cognition, and the challenges with current methodology in the field. The chapter sets the stage for integrating cognitive neuroscience into entrepreneurship research to uncover the neural substrates of entrepreneurial cognition.

Chapter 2 identifies critical themes connecting neuroscience and entrepreneurship, including impulsivity, risk-taking, decision-making efficiency, emotional judgments, and creativity. The chapter highlights empirical research employing cognitive neuroscience methods to study entrepreneurship.

Chapter 3 defines competencies relevant to entrepreneurship, moving beyond stereotypes. Expert entrepreneurs excel in disruptive thinking and resource management, contributing fresh insights for entrepreneurship practice and training.

In Chapter 4, the neurocognitive attributes of entrepreneurs are evaluated. Exploratory approaches reveal a unique neurocognitive profile, marked by greater long-term memory and lower verbal reasoning abilities. Entrepreneurs exhibit distinct personality traits, such as lower conscientiousness and higher openness.

Chapter 5 reports findings from an MRI study. Although no behavioural differences are observed, fMRI analysis reveals context- dependent neurocognitive patterns in entrepreneurs. They exhibit cognitive ease in unfamiliar scenarios, emphasizing the role of context and task dynamics and suggest practice-based differences in the brain.

These chapters collectively contribute to integrating neuroscience into entrepreneurship research. I provide a fresh perspective on understanding entrepreneurs’ neurocognition as a state which all individuals can engage, opposed to some special formula only entrepreneurs
posses.
Date of Award1 May 2024
Original languageEnglish
Awarding Institution
  • King's College London
SupervisorPete Hellyer (Supervisor), Steven Williams (Supervisor) & Vincent Giampietro (Supervisor)

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