The SME Assembly 2024 in Budapest kicked off on 18 November with one of its most anticipated moments: the renowned Schumpeter ‘Innovation in Enterprise’ Lecture by Professor Johan Wiklund, a leading academic in entrepreneurship.

Professor Wiklund gave his lecture to the Assembly in the elegant atmosphere of the Müpa, one of Hungary's premier cultural institutions, celebrated for its stunning architecture and world-class acoustics.  

In his address, Wiklund emphasised that to compete on the world’s stage, Europe needs more robust entrepreneurial ecosystems, rather than the current monocultures based on the ‘myth’ of the Silicon Valley model.  

“By nature, innovation is surprising, chaotic, serendipitous, and uncontrollable. We need more experimentation and less management, we need to try many different models, accept that many will fail. We need to create meeting places that are attractive to more kinds of people. We should use language, tools and methods anchored in the local culture,” Wiklund highlighted.   

Professor Wiklund challenged the current trajectory of EU entrepreneurship policies, warning that they risk creating “copycat monocultures” overly reliant on a Silicon Valley-inspired model. Drawing on decades of research, he cautioned against the “McDonaldization” or homogenisation of entrepreneurial ecosystems in Europe. "It is much better instead to build entrepenerurial ecosystems bottom up. Most European cities are diverse, so we should utilise the diversity of European cities to build diverse, robust ecosystems."

Originally from Sweden, Professor Wiklund is the Al Berg Endowed Chair and Professor of Entrepreneurship at Syracuse University’s Whitman School of Management in the USA. He also holds part-time professorships at the University of Bath in the UK and Nord University in Norway. Wiklund’s research interests lie at the intersection of neurodiversity, mental well-being, and the entrepreneurial lifecycle. His contributions to the field are reflected in more than 100 published articles, over 50,000 citations, and research on behalf of European governments and the OECD, cementing his influence across academia and policymaking.

The Schumpeter 'Innovation in Enterprise' lecture, a tribute to Czech economist Joseph Schumpeter’s theories on innovation and creative destruction as drivers of market success, has been a highlight of the SME Assembly since 2012. Professor Wiklund joins a line of world-renowned economists and Nobel Laureates, including Joseph E. Stiglitz and Professor Lučka Kajfež Bogataj, to have had the honour to give the talk. 

Curious to watch Professor Wiklund's insightful lecture? Check out the highlights video on YouTube to capture the essence of the session, or check out the full recording.

Download his presentation below.