Entrepreneurship is the engine of economic growth of a country. It increases the economic activities in every sphere of economic life of the people. The main objective of the present study is to examine the role of entrepreneurship in the economic growth of a country.While research on knowledge management in entrepreneurial organizations has been the subject of much scholarly attention, it has mostly been considered independently rather than in institutional, geographical or industrial contexts. The purpose of this special issue is to integrate the role of context with knowledge management research, and to discuss the subsequent implications for entrepreneurship. This paper draws on the knowledge spillover theory of entrepreneurship, open innovation theory and the institutional perspective to knowledge management in entrepreneurial organizations, It does so in order to measure returns to investment in knowledge and knowledge spillovers across various industries and levels of economic activity (individual, firm, industry, university, region). Future research suggestions from the papers included in the special journal issue are also discussed and explained.