THE ROLE OF ENTREPRENEURIAL UNIVERSITIES IN ECONOMIC GROWTH: AN EXPLORATORY STUDY

The objective of this paper is to set a framework for examining the conditions under which an entrepreneurial university can facilitate the commercialization of university science. We recognize that investment in scientific knowledge and research alone will not automatically generate growth and prosperity. There is an opportunity at entrepreneurial universities to combine the human capital talent available on faculties with the needs of industry and communities to accelerate economic growth. The paper is based upon a qualitative study of the extent to which entrepreneurial universities stimulate economic growth. The findings of the present research point to the importance of entrepreneurial universities as key players in economic growth and in developing innovation systems. Globalization, knowledge-based economy, and innovation performance are the main drivers in the transformation traditional universities in entrepreneurial universities. Relatively little research has addresses the transformation of traditional universities in entrepreneurial universities and what is their role in economic development through the commercialization of scientific research. Thus, universities can become academic enterprises through foster collaboration between academic institutions, society and the business community.