The nature of entrepreneurship and investments in innovation have an impact on competitiveness of a nation. Globally there is a growing yearning for sustainable businesses. There is a need to re-look at entrepreneurial initiatives which match with the local context. Countries require entrepreneurial solutions addressing their cultural and socio-economic complexities. Innovation needs to be hence linked to the local context and tracked in various functional areas in the services sector. The developed economies have been seedbeds of entrepreneurship which has resulted in firms transcending national boundaries. This conference attempts to explore the dynamics of entrepreneurship and innovation in the services sector. Emergence of business potential in emerging economies such as China, India, Brazil, Eastern Europe has led to emergence of strategies such as outsourcing, mergers and acquisitions, franchising, strategic alliances, management contracts etc. This conference attempts to debate the management challenges for initiating and sustaining successful entrepreneurship and innovation in the services industry.