Citation Information: Socorro Márquez, Félix O., & Reyes Ortiz, Giovanni E. (2021). Innovation and entrepreneurship: fallacies and disenchantments. International Journal of Entrepreneurship, 25(6), 1-11. International Journal of Entrepreneurship Volume 25, Special Issue 6, 2021 Entrepreneurship: Marketing & Innovation 1 1939-4675-25-6-681 INNOVATION AND ENTREPRENEURSHIP: FALLACIES AND DISENCHANTMENTS Socorro Márquez, Félix O., Complutense University of Madrid Reyes Ortiz, Giovanni E., Universidad del Rosario, Bogotá, Colombia ABSTRACT Not everything that is pointed out as a result of innovation has an empirical basis in reality, in some cases, the experiences, anecdotes, or initiatives have been exaggerated, adjusted to a particular audience, and even distorted to create an unreal picture of who they were or wanted to be. Those distortions could lead entrepreneurs to the acceptance of certain fallacies as facts and later facing some disenchantment that can affect the perception and understanding of the relationship between entrepreneurship and innovation. Therefore, providing the entrepreneur with documented information that allows him to observe the business activity more objectively and thus adjust his expectations and improve decision-making could be considered as the justification for this study. Using a qualitative methodology, three fallacies and three disenchantments have been documented, considered for their value when projecting entrepreneurship based on the expectations they generate in young entrepreneurs. Keywords: Innovation, Entrepreneurship, Fallacies, Disenchantments. INTRODUCTION Once we crossed the threshold of the «information and knowledge age» and linked it with technological development and the challenges it represents the word «innovation» gained strength and began its leading rise in almost all areas of the world knowledge. In the marketing world there is talk of «Innovate or die», a title that Mario Borghino used when published his book in 2008, and whose content is aimed at explaining how to compete in saturated markets. For his part, Trías, known for his participation in the book «La Buena Suerte» (The good luck), and «The entrepreneur's black book», alludes to innovation in his 2011 work «Innovate to win», thus joining other authors such as Pecorella, Friedman and Costa, who show innovation as the path that must be followed by anyone who wants to introduce changes and improvements in any field. And so, as happened with leadership concept, where at first only their three most accepted and well-known styles were spoken (autocratic, democratic and laissez-faire), then fragmented into many more. Innovation went from being a linear and fixed concept, to become a reason for discussion, redefinition and reclassification to the point of talking about its many variations, as proposed by Tom Kelley in his book «The 10 Faces of Innovation» in 2010 or as proposed by Larry Keeley, Ryan Pikkel, Brian Quinn, and Helen Walters in their book «Ten Types of Innovation: The Discipline of Building Progress», written in 2013. However, not everything that is said and pointed out as a result of innovation, or even as the genesis of it, is empirically grounded in reality.