Research on the psychological foundations of entrepreneurship wins foremost global entrepreneurship award and € 100,000.

The 2024 Global Award for Entrepreneurship Research goes to Professor Robert Baron, Oklahoma State University and Professor Michael Frese, Asia School of Business and Leuphana University of Lueneburg. Baron and Frese are awarded for expanding the psychological foundations of entrepreneurship and enabling a vibrant stream of evidence-based research on the micro-foundations of entrepreneurship. The Global Award is the foremost international award in entrepreneurship research with a prize sum of € 100,000.

Professor Robert Baron and Professor Michael Frese have spearheaded groundbreaking research on human psychology and entrepreneurship. Through collaboration and the adoption of different approaches to psychology, they have set out to answer pivotal questions in entrepreneurship research, including why certain individuals decide to engage in entrepreneurship; how they recognize, assess, and act upon new opportunities; and what factors contribute to success in pursuing these opportunities.

– As long-standing ambassadors for the study of the psychological foundations of entrepreneurship, Professor Baron and Professor Frese have inspired a new generation of researchers to engage with the questions of why, how, and with what effect some individuals choose to pursue entrepreneurship. Their pioneering, engaged, and practically relevant scholarship is of critical importance for the continued development and success of entrepreneurship research, says Ivo Zander, Professor Uppsala University and Chair of the Prize Committee.

Professor Baron’s most important contributions include:

  • Establishing theoretical linkages between socio-cognitive psychology and entrepreneurship, furthering the understanding of who becomes an entrepreneur, the motivations behind entrepreneurial behavior, and exploring the psychological mechanisms that foster entrepreneurial success.
  • The nature and role of pattern identification in the process of opportunity recognition, and how a set of heuristics, cognitive biases, and psychological states can have both positive and negative effects on entrepreneurial success.

Professor Frese’s most important contributions include:

  • Clarifying the origins and effects of personal initiative, self-regulated action in the entrepreneurial process, and the success factors of entrepreneurs.
  • Identifying and explaining the relationships between psychological factors, entrepreneurial action, and entrepreneurial success.
  • Educating and training prospective and practicing entrepreneurs, particularly in the challenging context of developing and emerging economies.

The Award ceremony will take place in Stockholm on May 27. For further information, please visit our website,

For information and contact:
Pernilla Heed, for the Global Award for Entrepreneurship Research, +46 70 372 74 76.
Ivo Zander, Professor Uppsala University and Chair of the Prize Committee +46 18 471 13 55.