Entrepreneurship Research

How do entrepreneurs make decisions? And what role do emotions play? How do I protect my invention from intellectual theft? How do I finance social enterprises? Entrepreneurial research is firmly anchored at TUM – especially at the TUM School of Management and the Center for Entrepreneurial and Financial Studies (CEFS).

Developing tools for founders

Entrepreneurship Research develops methods and tools for founders, which are conveyed to the start-ups by the start-up consultancy. Via a feedback and monitoring system, the use and success of the measures, methods and tools is reviewed by Entrepreneurship Research.

The effective implementation of the spin-off process of TUMentrepreneurship requires the use of modern methods and tools to support start-ups. These tools concern e.g. business development, business process management, team building, growth and quality management.

All entrepreneurship research activities are bundled in this research center. In addition to the existing activities in entrepreneurship research at TUM, three new junior professorships have been established in the subject areas of "Strategic Entrepreneurship", "Entrepreneurial Behavior" and "Internationalization of Young Firms".

Prof. Holger Patzelt's research focuses on business decisions and the economic, emotional and psychological consequences of business failure, specifically concentrating on technology-oriented industries. In the Handelsblatt’s research ranking of business economists in 2009, Prof. Patzelt ranked 14th and was listed as the best-published entrepreneurship researcher in Germany. Prof. Patzelt has published many articles in the leading journals of entrepreneurship research (Journal of Business Venturing, Entrepreneurship: Theory and Practice). Chair of Entrepreneurship

Prof. Ann-Kristin Achleitner’s focal points are value creation and market valuation guidelines for private equity, venture valuation and social entrepreneurship. Her emphasis is on private financing in capital markets, such as venture capital and private equity. Chair of Entrepreneurial Finance

Prof. Christoph Ann’s research focus includes the protection of inventions and expertise, intellectual property strategies and trademark rights (licensing agreements). Chair of Corporate and Intellectual Property Law

Prof. Fritz Frenkler combines the topics of design and entrepreneurship in his course offerings. As part of the Industrial Design M.Sc. program introduced in 2008, he has included foundational training in the curriculum. Chair of Industrial Design

Prof. Isabell Welpe focuses on organizations’ strategic and entrepreneurial decision-making – including the evaluation and exploitation of entrepreneurial opportunities. Her theoretical focus is on the interdisciplinary connection between economic and psychological theories. Current research interests in entrepreneurship also include studies on entrepreneurial risk and the influence of emotions on business decisions. Chair of Strategy and Organization

This research institute, founded in cooperation with the Prof. Dr. Dr. Ann-Kristin Achleitner, KfW Endowed Chair and the Prof. Dr. Christoph Kaserer Chair of Financial Management and Capital Markets, has led to a wide range of externally funded projects in the field of start-up financing. CEFS


Entrepreneurship Research Institute

Technical University of Munich
Arcisstr. 21
D-80333 München

Tel. +49 89 289 52803

Visiting Address:

Lichtenbergstraße 5
85748 Garching