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This book constitutes the refereed proceedings of the 11th International Conference on Software Business, ICSOB 2020, which was held during November 16-18, 2020. The conference was originally planned to take place in Karlskrona, Sweden, but changed to an online format due to the COVID-19 pandemic. The 13 full papers and 5 short papers presented were carefully reviewed and selected from 39 submissions. They deal with a range of topics including practices for engineering and marketing software-intensive products, extracting business value from machine learning based software components, ethical considerations of the software business, software ecosystems, and pedagogy of teaching entrepreneurship and software business.