Leadership is critical to the success of organizations. Entrepreneurial leadership (EL) is a specific leadership style, defined as influencing and directing the performance of group members towards the achievement of those organizational goals that involve recognizing and exploiting entrepreneurial opportunities. Entrepreneurial orientation (EO) is a firm-level construct that reflects the strategic decision making style with regard to innovation, pro-activeness, and risk-taking. EO has been established as an antecedent of innovative performance. However, for the benefits of EO to fully materialize, actors on every level should demonstrate entrepreneurial leadership. Together, EO and EL should impact innovative performance. This study tests our recently developed ENTRELEAD scale for the measurement of EL. We discuss and empirically demonstrate the differences between EL and EO, and consider their combined impact on innovative performance.