Prof. Dr. Hana Milanov

Academic Career and Research Areas

Prof. Hana Milanov, PhD is a Professor of International Entrepreneurship at Technical University of Munich (TUM), where she also serves as an academic director of the EMBA in Innovation and Business Creation, and as a member of the Board of Center for Digital Technology and Management (CDTM). She has served on the TUM Board of Management as the Senior Vice President For International Alliances And Alumni from 2014 till 2017. Her research interests lie in understanding how entrepreneurs effectively acquire resources and how this influences opportunity exploitation and final performance at home and abroad, with an increasing focus on gender dynamics. The research contexts she studied are varied and range from high technology companies, venture capital, public family firms, and microentrepreneurs across different contexts, ranging from resource-challenged (e.g. Kenya, Uganda) to resource-rich countries (e.g. USA). Her work was published in Strategic Management Journal, Journal of Business Venturing, Academy of Management Perspectives, and Industrial and Corporate Change, among others. She is experienced in teaching undergraduate, MBA, Masters, Executive MBA and doctoral programs across different countries (Australia, Croatia, Germany, Spain, and USA).

Prior to joining TUM, Prof. Milanov worked at IE Business School in Spain, where she continues to teach as a visiting faculty. Prof. Milanov completed her Masters and Doctoral studies in Entrepreneurship at Kelley School of Business, Indiana University.


  • Best Reviewer Award, Journal of Business Venturing (2022)
  • TUM Executive Education Teaching Award (2021)
  • Finalist for the Best Paper Award, Strategic Management Society (2020)
  • Exemplary Journal of Business Venturing publication at the Academy of Management Entrepreneurship Research Exemplars Conference, University of Connecticut (2009)
  • Research grant from the Spanish Ministry of Education for a project “How firms enter and navigate network spaces: A longitudinal study” (2008)

Reypens L, Bacq S, Milanov H: “Beyond Bricolage: Early-Stage Technology Venture Resource Mobilization in Resource-Scarce Contexts”. Journal of Business Venturing. 2021.

Milanov H, Justo R, Bradley S: “Making the most of group relationships: The role of gender and boundary effects in microcredit groups”. Journal of Business Venturing. 2015; 30(6): 822-838.


Milanov H, Fernhaber SA: "When do domestic alliances help new ventures abroad? Direct and moderating effects from a learning perspective". Journal of Business Venturing. 2014; 29(3): 377-391.


Milanov H, Shepherd D: "The importance of the first relationship: The ongoing influence of initial network on future status". Strategic Management Journal. 2013; 34(6): 727-750.


Dimov D, Milanov H: “The interplay of need and opportunity in venture capital investment syndication”. Journal of Business Venturing. 2010; 25(4): 331-348.