Business and entrepreneurial education encompasses a number of methodologies used to provide students with basic and advanced skills concerning the processes of decision making, management, business start-up, operational procedures and others. According to the challenges and the characteristics of the new economic and social scenarios – also determined by the effects of the COVID-19 – business and entrepreneurial education is asked to be reinvented in a continuous innovation perspective. The centrality of the digital transformation and of the information and technology-driven innovation suggests to identify and analyze new conceivable learning patterns that stimulate mindsets and capabilities of the students. (Vanhuele, 2019). Digital technologies have already changed the learning experiences; communication and access to information are the fields where most of the transformations have occurred. Excellent educational contents are often freely available, information about any different topic are easily accessible and the communication is effortless. The lecturers can experiment innovative forms of pedagogy, deciding to implement and use, in an effective way, digital tools inside the classroom, to support students’ learning. (Meriaux, 2019) In order to verify the effects of the 4.0 technologies and exploit their potential for the learning patterns, there is the need to make some strategic decisions capable to align pedagogical objectives with the use of innovative tools. A good management of the educational experience starts with the understanding of solutions and tools that can give a real value added to a business course, and what are the best ways to implement them. Educators are always more willing to share teaching materials, create online activities or assignments, deliver small online courses, interact with live-polling, telepresence robots, video, podcast and so on. These tools, if used in an effective way, can create engagement and increase students’ attention. Concerning the entrepreneurial and business education, beyond the already mentioned technologies, many specific trends are arising that combine new technologies with new ways of teaching and learning. Among the most diffused ones there are: flipped classrooms, immersive and augmented reality, business games and blended labs. (Arvind Mallik, 2018; Finch, 2018). Despite this relevance, there are still limited contributions related to the analysis and the assessment of the effectiveness of the virtual learning spaces for the business and entrepreneurial education. In order to contribute to fill these gaps, this paper aims to analyse the background, the state of art and the level of implementation of the digital contents and technologies in business and entrepreneurial education, trying to identify strategic patterns, potential of the ICTs, enabling and hampering conditions and implications both for theory and management, with a particular focus on the possibilities of adoption by small and medium universities. The first phase of this research will be carried out by reviewing the existing literature – in terms of contents, experiences, cases, practices – in order to gain a complete picture and the state of art of the virtual learning spaces for the business and entrepreneurial education at a national and international level. On the base of the main insights of the first phase, the second phase will be aimed to identify and delineate a set of implications and suggestions for the successful implementation of the virtual learning spaces for the business and entrepreneurial education in medium and small universities. The main value of this study is the identification and the critical analysis of contents and practices related to the elaboration and the implementation of the virtual learning spaces as well as of the modalities that detemine a better understanding of the conditions grounding the success or the failure of the business and entrepreneurial education courses and experiences. The results consist in the identification of a set of characteristics and conditions for each of the innovative methodologies, in order to decide to frame and follow the patterns of the technological innovation to enhance the business and entrepreneurial learning experiences. The analysis and the set of implications deriving from the study could be useful to many actors as, for example, lectures, universities, educational institutions, consultants, companies and public administration offices to inspire and drive them in following projects and initiatives capable to stimulate and support virtuous cycles of learning and innovation.