A Readiness Model towards Transformation a Second Generation University to an Entrepreneurial University
Abstract
This paper proposes a readiness model for transformation a second-generation university to an entrepreneurial organization based on influential factors and the consequences of entrepreneurial activities on local economic development. Six factors and indicators are identified and modeled based on the tutorial entrepreneurship literature. The restrictions of each factor are defined by the readiness framework and the consequences of entrepreneurial activities on local economic development are analyzed by using the proposed model. The proposed conceptual model aids policymakers in completing a much-needed assessment of the impact of organizational policies, practices, and structures on the entrepreneurial activities and transformation from second-generation universities to third-generation organizations. The proposed readiness model leads to the development of organizational interventions that facilitate successful entrepreneurial activities. The quantitative indicators of different university types are demonstrated in this study. The quantitative validation of the integrated framework suggests that university heads and policymakers can encourage and develop academic entrepreneurship by using a comprehensive systems approach for the identification, protection, and commercialization of university intellectual property.
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Introduction
Today, the economies of corporations, countries, and successful entrepreneurial universities are deeply influenced by technological developments, short product/service life-cycles, and global competitiveness [1].In the meantime, the role of universities in the development of products/services and the commercialization of science has become crucial [2]. Various entrepreneurship initiatives are being undertaken at entrepreneurial universities to further transfer science and technologies to industries and improve the relationship between science, technology and operational activities [3]. Universities that play a critical role in the economic development of their region are called entrepreneurial universities [4]. Table 1 provides the word cloud of some selected definitions of the entrepreneurial university that are acknowledged in related literature. The development of third mission activities, i.e., technology transfer and university-industry links, the contributions to regions, new job creation and revenue generation, shaping of entrepreneurial mindsets and innovative culture in society are some of the outstanding features of definitions of the entrepreneurial university.
The intrinsic and economic capacities of the newly industrialized countries are advancing, and national universities and public research organizations are expected to become increasingly important in supporting natural companies to drive them more dynamic and industrialized [5]. The characteristics of working with universities may vary greatly depending on whether the industry partner is engaged in new or growing activities. [6]. In developed economies as well as in newly industrialized countries, the value of research, public education, and research-educational projects are of great value in playing an effective role in entrepreneurship and increasing the profits of the national economy as well as in the growth of high-tech activities.
In the medium or long term, the competition in the global economy depends on technology-based strengths [7]. This includes the ability to apply new technology to reach new successful markets, as well as develop the skill level of the workforce to develop new products. A university can play a substantial contribution to the development and institutionalization of the above-mentioned elements. Therefore, university-industry collaboration is increasingly expanding, causing market dynamics. The challenges in the global economy have made policymakers and companies expect the universities and research institutes to generate new ideas to accelerate economic innovation and development, and in fact, expect to create a new kind of university [8]. Therefore, universities are turning from the science and technology center to an ecosystem of innovation and entrepreneurship. Entrepreneurial university is a university that fulfills national and regional development goals and plays a major role in this process. The entrepreneurial university does not only think of producing human capital and ready-to-enter labor force but also pursuing its strategic goals as part of an important engine for sustainable technology development and economic growth [9].
Conclusion
This paper is a systematic approach to measure the readiness of second-generation universities to transform into entrepreneurial universities. The proposed framework is based on six completely different studies included influence factors and quantitative indicators of the consequences of entrepreneurial activities on local economic development. This paper argues for the existence of an underlying set of individual and contextual factors of entrepreneurial activities that need to be accepted by the local economy before initiate transforming to have a third-generation university. Also, the two other primary indicators are identified (i.e. development and performance of entrepreneurial activities and the economic impact of entrepreneurial activities) to provide a parsimonious description of the outcomes of entrepreneurial activities. The limitations of the entrepreneurial activities of the different kinds of universities are quantitatively provided by this paper. The proposed readiness framework can draw generalizations of the entrepreneurial activities and their consequences on local economic development and can help policymakers to understand how entrepreneurial universities can contribute to both their traditional functions and the added function of making the regional or national economy more competitive.