2000 Lisbon Proclamation committed Europe to becoming the world’s entrepreneurial and innovation leader.
Industry is constantly bombarded by the
growing expense of R&D that puts them further back on the innovation curve. Trends over the last 30 years have shown that industry is increasing investments for R&D to be done at entrepreneurial universities. The Entrepreneurial University can guide industry towards more efficient innovation by the creation, application, and diffusion of knowledge to the benefit of industry.
Entrepreneurial universities make use of three main drivers:
i) Professional education; ii) Vocational education; and iii) The utility of research;
It seems difficult to reach consensus about the function of entrepreneurial universities and the best possible model that could help to shape the Entrepreneurial University. There is, however, significant consensus that
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Research utilisation could also contribute to economic and social development, thus assisting non-academic users of universities to improve overall life standards. Typical of the Entrepreneurial University, there is an extended research relationship with industry. This relationship expands from a professor-student relationship to also include a university-industry dyad.
In another dimension, the Entrepreneurial
University should focus on the entrepreneurship education of non-academic stakeholders. This is especially true in economies where students need to be prepared for life after graduation. There are increasing evidence that self-employment are favoured by graduates because of limited opportunities in formal work sectors. Innovation challenges or entrepreneurial competitions such as the famed MIT 100, is a logical extension of the Entrepreneurial University’s role in society.
entrepreneurial universities contribute to make economies competitive – specifically as far as the continuous scrutiny for commercialisation opportunities of research is concerned.
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2009 2010 2011
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0 Overall Human Capital Quality Education Tertiary Education Figure 5: Human Capital in South Africa Since 2009 The Innovation Journal September 2012 | Management Today 95 Research and Development
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