A study led by the University of Liège and Liège University Hospital discovered increased neural connectivity in the brains of entrepreneurs, contributing to their distinct cognitive attributes. The research used resting-state functional magnetic resonance imaging (rs-fMRI) to explore the neural basis of entrepreneurial cognition, revealing higher connectivity between brain regions associated with cognitive flexibility and exploratory decision-making. This cognitive flexibility allows entrepreneurs to effectively balance exploration and exploitation, crucial for their success. The innovative study, involving 40 participants, offers valuable insights into the entrepreneurial mind and paves the way for nurturing cognitive flexibility and fostering an entrepreneurial spirit.
- In a pioneering collaboration between neuroscience and entrepreneurship, distinct cognitive attributes of entrepreneurs were discovered.
- According to the study, individuals with high cognitive flexibility are more likely to pursue a career in entrepreneurship.
Neuro-entrepreneurship: A multidisciplinary approach
The study represents a pioneering collaboration between neuroscience and entrepreneurship research, termed “neuro-entrepreneurship”. By integrating knowledge from both fields, the research team was able to delve deeper into the cognitive mechanisms driving entrepreneurial success. Dr. Steven Laureys, a neurologist and clinical professor at the Brain Center of the CHU de Liège / GIGA Consciousness at the University of Liège, highlighted the importance of this collaborative approach in understanding the neural networks involved in cognitive flexibility.
Resting-state functional magnetic resonance imaging (fMRI-rs) was used to observe the brain at rest, in the absence of cognitive tasks or stimulus presentation. This innovative method differs from traditional task-based fMRI approaches, providing a new perspective on the entrepreneurial mind. The study found that serial entrepreneurs have higher connectivity between the right insula (associated with cognitive flexibility) and the anterior prefrontal cortex (a key region for exploratory choices) than their manager counterparts.
The importance of cognitive flexibility in entrepreneurship
Cognitive flexibility, the ability to adapt one’s thinking and behavior in response to changing circumstances, has long been recognized as a critical factor in entrepreneurial success. According to a study exploring the relationship between cognitive flexibility and entrepreneurial intentions, individuals with high cognitive flexibility are more likely to pursue a career in entrepreneurship. The study also found a positive association between cognitive flexibility, attitude toward risk-taking, and entrepreneurial self-efficacy.
Frédéric Ooms, researcher and assistant professor in management and entrepreneurship at HEC – School of Management, University of Liège, explained that the findings offer a new perspective for designing training programs or professional development aimed at enhancing cognitive flexibility and the entrepreneurial spirit in individuals within various organizations. Cultivating these qualities is essential in a rapidly changing world, as recognized by the OECD, which emphasizes the importance of fostering an entrepreneurial mindset and cognitive flexibility within teams as a 21st-century challenge.
Implications and future research
The integration of neuroscience and entrepreneurship research not only advances our understanding of the entrepreneurial mind but also offers invaluable opportunities for training and professional development programs. By nurturing cognitive flexibility and fostering an entrepreneurial spirit, organizations can better equip their workforce to adapt to new challenges and seize opportunities in an ever-evolving landscape.
Research in this field is ongoing, with multidisciplinary teams at GIGA In Vivo Imaging (ULiège) continuing their investigations as part of a project funded by the Fédération Wallonie-Bruxelles. As the field of neuro-entrepreneurship expands, it promises to further illuminate the cognitive attributes that underlie entrepreneurial success and inform strategies for cultivating these qualities in future generations of business leaders.