Role, Importance of ORIC and Entrepreneurship in Universities

Abstract

The entrepreneurial universities aim to facilitate practical knowledge to students and industries to foster economic development. Many ideas were put forward to pioneer universities in the United States like Massachusetts Institute of Technology (MIT) and Stanford establish a solid patent policy, technology transfer policy and Liaison between university and industry. The next great change occurred in Western Europe, with most of the universities transforming themselves into institutions supporting entrepreneurs. The last was the tip of the iceberg i.e. newly emerging economies helped these universities to reach their desired goal.