This work addresses the importance of innovation in entrepreneurial and business education to ensure that students develop the ability to make complex decisions and solve complex challenges. The intention was to incorporate the complexity theory in decision-making and problem-solving in business and entrepreneurship. To achieve this, we present the results of the first phase of our project, aiming to scale the levels of complex thinking in university students, discuss the need for business and entrepreneurship students to develop complex thinking competency (including its sub-competencies of critical, systemic, scientific, and innovative thinking) in the complexity of the business environment, analyze the relevance of system elements, apply their inductive and deductive reasoning, and create appropriate and relevant solutions. Our findings suggest that an educational model focused on developing complex thinking and its four sub-competencies can enable entrepreneurs to integrate sustainable development, increase their social engagement and critical thinking, develop their imaginative intelligence and discursive and reflective skills, and thus improve their decision-making and problem-solving processes. In the future, we plan to extend this analysis to the behavior of real-life entrepreneurs. [For the full proceedings, see ED654100.]