The European framework regarding innovation is dominated by the assumed objectives of the Lisbon Strategy and by its major reviewing demarches. In this perspective, the paper is based on a proposed model for the entrepreneurial process in Romania, depending on the economical development stage and the competitiveness level of the country, according to which there are set, on the one hand, the relationships between the conditions of the entrepreneurial framework and entrepreneurship, and, on the other hand, between entrepreneurship and innovation output in the cases of small and medium-sized enterprises.