Formalizing the concept of entrepreneurial capacity

This study develops a definition of the concept of entrepreneurial capacity and formalizes it in two models explaining how value is created in the innovation process. The formalization integrates the influential opportunity-based definition of entrepreneurship research offered by Shane and Venkataraman (2000) with the consensus prevailing in the management, strategy, economics and entrepreneurship literatures that innovation is a process for transforming the inherent economic value of new knowledge into realized economic value for identified stakeholders. The linear flow and mathematical models presented in the study possess the clarity and richness required of a theoretical framework for generating and testing insightful hypotheses. This study, regarding Penrose (1959) more as theorist of entrepreneurship than of resources, deepens scepticism about the relevance to entrepreneurship of the literatures on the resource-based view of the firm (RBV) and dynamic capabilities (DC). Finally, the arguments and perspectives of the study imply several pedagogic possibilities and challenges for entrepreneurship educators.

Collaboration with entrepreneurship education programmes : building spinout capacity at universities

As the University Spin Out (USO) has become a highly desirable outcome for commercialization efforts, the development of entrepreneurial capacity within the university system becomes increasingly more important. We hypothesize that entrepreneurship education (EE) programs ceterus paribus may play a role in developing this capacity. This paper examines the attitudes and perceptions of academics who are directly involved in the field of EE programs with four research goals in mind: 1) to determine whether or not there are perceived advantages to collaboration between EE programs and technology transfer departments, 2) identify specific factors that influence these perceptions, (3) query academics as to perceived barriers to collaboration, and (4) to identify whether collaborations already exist and categorize them. Our findings suggest that significant advantages from collaboration between these two functions are perceived and that indirect linkages are believed to be more important than direct linkages.

Entrepreneurship education in non-business schools : best practice for Australian contexts of knowledge and innovation communities (Final Report)

In the current era of global economic instability, business and industry have already identified a widening gap between graduate skills and employability. An important element of this is the lack of entrepreneurial skills in graduates. This Teaching Fellowship investigated two sides of a story about entrepreneurial skills and their teaching. Senior players in the innovation commercialisation industry, a high profile entrepreneurial sector, were surveyed to gauge their needs and experiences of graduates they employ. International contexts of entrepreneurship education were investigated to explore how their teaching programs impart the skills of entrepreneurship. Such knowledge is an essential for the design of education programs that can deliver the entrepreneurial skills deemed important by industry for future sustainability. Two programs of entrepreneurship education are being implemented at QUT that draw on the best practice exemplars investigated during this Fellowship. The QUT Innovation Space (QIS) focuses on capturing the innovation and creativity of students, staff and others. The QIS is a physical and virtual meeting and networking space; a connected community enhancing the engagement of participants. The Q_Hatchery is still embryonic; but it is intended to be an innovation community that brings together nascent entrepreneurial businesses to collaborate, train and support each other. There is a niche between concept product and business incubator where an experiential learning environment for otherwise isolated ‘garage-at-home’ businesses could improve success rates. The QIS and the Q_Hatchery serve as living research laboratories to trial the concepts emerging from the skills survey. The survey of skills requirements of the innovation commercialisation industry has produced a large and high quality data set still being explored. Work experience as an employability factor has already emerged as an industry requirement that provides employee maturity. Exploratory factor analysis of the skills topics surveyed has led to a process-based conceptual model for teaching and learning higher-order entrepreneurial skills. Two foundational skills domains (Knowledge, Awareness) are proposed as prerequisites which allow individuals with a suite of early stage entrepreneurial and behavioural skills (Pre-leadership) to further leverage their careers into a leadership role in industry with development of skills around higher order elements of entrepreneurship, management in new business ventures and progressing winning technologies to market. The next stage of the analysis is to test the proposed model through structured equation modelling. Another factor that emerged quickly from the survey analysis broadens the generic concept of team skills currently voiced in Australian policy documents discussing the employability agenda. While there was recognition of the role of sharing, creating and using knowledge in a team-based interdisciplinary context, the adoption and adaptation of behaviours and attitudes of other team members of different disciplinary backgrounds (interprofessionalism) featured as an issue. Most undergraduates are taught and undertake teamwork in silos and, thus, seldom experience a true real-world interdisciplinary environment. Enhancing the entrepreneurial capacity of Australian industry is essential for the economic health of the country and can only be achieved by addressing the lack of entrepreneurial skills in graduates from the higher education system. This Fellowship has attempted to address this deficiency by identifying the skills requirements and providing frameworks for their teaching.

Entrepreneurship education in non-business schools : best practice for Australian contexts of knowledge and innovation communities (Final Report)

In the current era of global economic instability, business and industry have already identified a widening gap between graduate skills and employability. An important element of this is the lack of entrepreneurial skills in graduates. This Teaching Fellowship investigated two sides of a story about entrepreneurial skills and their teaching. Senior players in the innovation commercialisation industry, a high profile entrepreneurial sector, were surveyed to gauge their needs and experiences of graduates they employ. International contexts of entrepreneurship education were investigated to explore how their teaching programs impart the skills of entrepreneurship. Such knowledge is an essential for the design of education programs that can deliver the entrepreneurial skills deemed important by industry for future sustainability. Two programs of entrepreneurship education are being implemented at QUT that draw on the best practice exemplars investigated during this Fellowship. The QUT Innovation Space (QIS) focuses on capturing the innovation and creativity of students, staff and others. The QIS is a physical and virtual meeting and networking space; a connected community enhancing the engagement of participants. The Q_Hatchery is still embryonic; but it is intended to be an innovation community that brings together nascent entrepreneurial businesses to collaborate, train and support each other. There is a niche between concept product and business incubator where an experiential learning environment for otherwise isolated ‘garage-at-home’ businesses could improve success rates. The QIS and the Q_Hatchery serve as living research laboratories to trial the concepts emerging from the skills survey. The survey of skills requirements of the innovation commercialisation industry has produced a large and high quality data set still being explored. Work experience as an employability factor has already emerged as an industry requirement that provides employee maturity. Exploratory factor analysis of the skills topics surveyed has led to a process-based conceptual model for teaching and learning higher-order entrepreneurial skills. Two foundational skills domains (Knowledge, Awareness) are proposed as prerequisites which allow individuals with a suite of early stage entrepreneurial and behavioural skills (Pre-leadership) to further leverage their careers into a leadership role in industry with development of skills around higher order elements of entrepreneurship, management in new business ventures and progressing winning technologies to market. The next stage of the analysis is to test the proposed model through structured equation modelling. Another factor that emerged quickly from the survey analysis broadens the generic concept of team skills currently voiced in Australian policy documents discussing the employability agenda. While there was recognition of the role of sharing, creating and using knowledge in a team-based interdisciplinary context, the adoption and adaptation of behaviours and attitudes of other team members of different disciplinary backgrounds (interprofessionalism) featured as an issue. Most undergraduates are taught and undertake teamwork in silos and, thus, seldom experience a true real-world interdisciplinary environment. Enhancing the entrepreneurial capacity of Australian industry is essential for the economic health of the country and can only be achieved by addressing the lack of entrepreneurial skills in graduates from the higher education system. This Fellowship has attempted to address this deficiency by identifying the skills requirements and providing frameworks for their teaching.

Graduate entrepreneurship: More than child's play

Purpose With the unbridled demand for entrepreneurship in higher education, the purpose of this paper is to identify how pedagogy can inhibit students in making the transition to graduate entrepreneurship. Along the way, the concept of what and who is a graduate entrepreneur is challenged. Design/methodology/approach The paper reports upon the pragmatic development of enterprise programmes in Ireland and Australia. Despite different starting points, a convergence of purpose as to what can be realistically expected of enterprise education has emerged. Findings This study reinforces the shift away from commercialisation strategies associated with entrepreneurial action towards developing essential life skills as core to any university programme and key to developing entrepreneurial capacity among students. Despite similar government intervention, university policy and student demand for practical-based entrepreneurial learning in both cases, graduates tend not to engage in immediate entrepreneurial action due to the lack of fit between their programme of study and individual resource profiles, suggesting that graduate entrepreneurship is more than child's play. Practical implications There are practical implications for educationalists forced to consider the effectiveness of their enterprise teachings, and cautionary evidence for those charged with providing support services for graduates. Originality/value Given the evolutionary approaches used at the University of Tasmania to develop students as "reasonable adventurers" and at the University of Ulster to develop "the enterprising mindset" the paper presents evidence of the need to allow students the opportunity to apply entrepreneurial learning to their individual life experiences in order to reasonably venture into entrepreneurial activity.

Emprendimiento y liderazgo

Liderazgo y emprendimiento, han sido dos fenómenos estudiados desde diferentes perspectivas durante las últimas décadas, sin embargo todavía quedan vacíos conceptuales por definir. Este proyecto tiene como propósito hacer una revisión teórica y documental de forma integral que permita describir, analizar e interpretar estos conceptos en el ámbito organizacional. Por último con este proyecto se pretende determinar cuáles son las características asociadas que definen a una persona líder y su capacidad emprendedora como una característica personal. En primer lugar la investigación comenzara mencionando las diferentes definiciones acerca de ambos conceptos, seguido se analizaran las diversas teorías y por ultimo consolidar los hallazgos más relevantes entorno a estas temáticas de estudio. Finalmente se presentaran algunas explicaciones acerca de estos complejos temas y se espera que la información aquí presente sirva como apoyo para el desarrollo de futuras investigaciones

Terrify and control: the politics of risk society

The article presents information on the idea of risk management. The origins of the contemporary constructions of risk are found in the seventeenth century, with the development of maritime insurance. In the context of maritime trading, risk came to be seen in terms of the balance between acquisitive opportunities and potential dangers and calculations of future loss of a ship or cargo. Today perceptions of risk affect our actions and strategies in areas of our life as diverse as health, parenting, crime prevention, recreation and travel. Public policy tends to be focused around risk avoidance and risk management, particularly in areas of child protection and aged care. While most of the discussions of risk have focused on risks as bads in society, risk has also been identified as a good. Risk is deemed a good when it challenges people to think differently and creatively. From a neo-liberal perspective risk opens up opportunities for unleashing of entrepreneurial capacity. In the context of the modernist commitment to the idea that people have the potential to control their own destiny, identification of threats and dangers can energize people to be adventurous. The discourse of risk has framed all the reports of the outbreaks of new strains of infection and includes instructions on how to recognize the risk assessments of its spread and instructions on how to avoid its spread.

Public research commercialisation, entrepreneurship and new technology based firms : an integrated model

Entrepreneurship is the engine of innovation. The accumulated tacit knowledge and culture of the entrepreneur are the resources essential to create wealth from research commercialisation leading to technological innovation and the creation of New Technology Based Firms (NTBFs). The authors explore, in definitional terms, discovery of entrepreneurial opportunity and entrepreneurial capacity as the essential elements in the interaction between all types of tacit knowledge (technological, managerial, risk management, financial, etc.). These both derive from and affect interactions between the institutions (sets of rules), organisational culture and external business environment. They also interact with the entrepreneur’s own background and personality. This leads then to a wider analysis of the importance of such tacit knowledge as the glue bringing together effective mechanisms for wealth creation out of research commercialisation.

Commercialisation of new knowledge within universities : exploring performance disparities

This paper finds that vast disparities exist in new technology commercialisation outputs between a small percentage of high performing universities, and the remaining bulk of under-performers. Theoretical explanations for these findings are as follows. First, high performing universities attract resources, both human and financial, with a much stronger pull than lower performing universities. Second, this study confronts a gap in the literature with regard to the prominence of entrepreneurship within the innovation and technology development process. Third, this study brings new light to bear on the reliability and validity of evaluative tools (variables) currently accepted as indicators of innovation in the university technology transfer context.

Connecting entrepreneurship with innovation value in university knowledge transfer

This paper conceptually links entrepreneurship and innovation through a structured and comprehensive examination of the levels of activities that may be (or should be) found within the modern university. By doing so, we believe a fertile ground for testing insightful new hypothesis will be opened for exploration. The authors explore several literatures and introduce three novel theoretical models to help examine innovation and entrepreneurship within the domain of university knowledge transfer. Predicated upon our generalized conceptual assertion that innovation is a function of new knowledge and entrepreneurial capacity, we pose four research questions: 1) what is innovation and entrepreneurship in the university context, 2) how might it be studied, fostered and evaluated, 3) how do the domains of individually driven entrepreneurship and organizational entrepreneurship interact and converge within the university innovation value creation process and 4) how does entrepreneurship ultimately impact upon innovation with respect to creating value from all areas of research and activities provided by the modern university? It is expected that the models offered will allow for both theoretical and empirical testing of these questions.

The role of entrepreneurship education in the commercialization of intellectual property at Canadian universities

In this research paper, we explore the relationship between the commercialization of intellectual property created within Canadian universities and academic entrepreneurship education programs. The steady growth and importance of both these activities over the last twenty years highlights the value of empirically examining the linkages that may exist between them. This paper will endeavor to add to the limited research in these areas and provide both empirical evidence and theoretical support to improve definition and distinction of the roles of these two seemingly interrelated activities. The data tested suggest that the main driver of commercialization intensity is derived from the creation of an environment rich in IP. However, further study is required to enhance understanding. In particular, we need to know more about the impact that the development of entrepreneurial capacity within an institution may have upon the spin-out process.