Redesigning the Ivory Tower

Abstract

Innovation in the world of markets safeguards the viability of the companies or the organizations and the society within which they operate. Entrepreneurship’s role is significant in the promotion and economic development of countries and it is the young generation who should be given adequate knowledge to develop competent skills. The core of entrepreneurship may be found at academic entrepreneurship that moulds younger generations and may contribute to innovation and technology transfer. This may have positive effects on local economic growth. This paper examines the significance of academic entrepreneurship providing an overview of current trends and future outlook. Synergies need to be initiated between educators, different actors, stakeholders and organizations from local community which is strategic for economic development. The university needs to change in order to cope with the changes in society and in order to be able to contribute to the development of technology-oriented companies with economic consequences on local, national and international economic growth.

Keywords

• academic entrepreneurship
• innovation
• entrepreneurship education
• restructuring of academic curricula