Resumen
The purpose of this paper is to propose a conceptual model that define the role of the business school?s students to support innovation and management of small businesses and local entrepreneurs, under the context of a Regional Innovation System. The Model is tested theoretically and using the case studies methodology, in base to the experience of the Faculty of Economics and Administrative Sciences (Universidad Católica de la Santísima Concepción, Chile), to generate evidence which gives support for the validation of the conceptual model. This case study allowed to appreciate the complexity of the phenomenon under analysis and demonstrate the existence of specific benefits received by stakeholders (of the Regional Innovation System: RIS) as a result of implementing the activities of the business school?s students, under the proposed conceptual model. This study also shows a strong motivation of students, entrepreneurs, small business owners and other stakeholders in the RIS to work collaboratively to improve innovation, business management and the learning associated with these issues.