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Academic Entrepreneurship







We introduce a framework for strengthening the application of entrepreneurial models to higher education research that is grounded in the theoretical constructs of entrepreneurship as articulated in the economic and management.



Overview

In modern parlance, an entrepreneur is someone who starts a new business that is inherently novel in some way. Academic institutions, however, are non-profit organizations, in most cases, and from the perspective of the government, cannot have profit as their primary motive. So, yet again, we have this quandary of “Academic Entrepreneurship”.

Academia: There are several unique aspects of working in an academic environment that pose challenges to academic entrepreneurship. These include the appointment and promotion process, which often values traditional metrics such as grant funding and research manuscripts over actual implementation of technology in the public sphere IP/Regulatory: Intellectual property is often carefully monitored by academic entities, which varying degrees of flexibility regarding licensing. Major regulatory concerns exist, one of the most important of which is conflict of interest and ethical conduct of research, especially when involving the life sciences Ideation: Academic settings are inherently creative places, yet ideation can be constrained by a tendency to isolate oneself from the actual customers that may use the technology or product (the “ivory tower” syndrome).

Finance: The need for entrepreneurial endeavors to engage for-profit partners while originating in a non-profit academic institute creates both cultural and legal challenges. People: Any successful commercial project requires building a team, with each party having clearly understood tasks and financial rewards. Yet academic centers often have a teacher/student model. Aligning these two and creating open dialogue can pose unique challenges.


The need for academic entrepreneurship


As the global communications landscape continues to evolve with every technological advancement, so too must academia adapt to remain relevant. Academic entrepreneurship is necessary:

To create a paradigm shift in academic information dissemination.

To overcome the asymmetry of poor-quality information dissemination on social media.

To create new outlets for academics / experts to increase their impact by sharing their work with a wide range of audiences.

To create new opportunities for academics in an uncertain higher education environment.






Academic Entrepreneur






An academic entrepreneur is someone with niche expertise and a strong desire to use that expertise to make a difference in the world. They understand that if they are able to reach a wider audience with their expertise, they can have a much wider influence than they are able to achieve within a university setting alone.

They are innovators and risk takers who are looking for new opportunities to take control of their work-life balance and to achieve personal fulfilment in the process.



What else can academic entrepreneurship approach offer academics



A luxury of research that tends to be unavailable in the business world is the ability to spend time focusing on different ways to do things. While this is an important and valuable perspective, the entrepreneurial mindset forces you to look at your end user’s pains and gains and the best way to use your solution to solve their problems. Real-time development Academics strive for perfection before they take their ideas to the market whereas entrepreneurs iterate from a minimum viable product to refine and develop their product in and with the market. Obviously this approach is not appropriate for every field (who wants their vaccines developed through in-market iteration?), but many academic outputs take years to product and are, in some cases, less relevant or even obsolete by the time they are completed.

Entrepreneurs move quickly because their livelihood often depends on it. Academics are mired by layers of bureaucracy, the steep learning curve and course requirements of doctoral students, and other organisational requirements that have the potential to slow progress. Embracing failure Entrepreneurs openly learn from and embrace failure, whereas academics have a tendency to hide it – reinforced by a culture of failing to publish negative results.