The emerging research field of strategic entrepreneurship, covering the intersection of entrepreneurship and strategic management studies, deals with ideas, invention and innovation. It focuses on the discovery and creation of new things. The ventures pursuing such new opportunities can be part of incumbent organizations or they may take the form of independent start-ups, and they create value to a variety of stakeholders. In the research programme, we attempt to explain the origins, antecedents, nature, and consequences of entrepreneurial and innovative efforts and their outcomes in terms of performance and innovation. We use the strategic entrepreneurship lens to analyze the outcomes of strategic entrepreneurship activities, which means that we integrate theories related to the search for entrepreneurial opportunities with those focusing on the actions aimed at seeking strategic advantage. Opportunity seeking activities have to do with the capabilities of individuals and ventures to discover and/or create opportunities and their attempts to exploit these opportunities. Strategic advantage seeking actions refers both to the development and exploitation of existing competitive advantages and to securing potential advantages derived from recently discovered and exploited opportunities.