The Development of University-Based Entrepreneurship Ecosystems

The Development of University-Based Entrepreneurship Ecosystems

Global Practices

Edited by Michael L. Fetters, Patricia G. Greene, Mark P. Rice and John S.ibley Butler

Entrepreneurship and innovation are increasingly viewed as key contributors to global economic and social development. University-based entrepreneurship ecosystems (U-BEEs) provide a supportive context in which entrepreneurship and innovation can thrive. In that vein, this book provides critical insight based on cutting-edge analyses of how to frame, design, launch, and sustain efforts in the area of entrepreneurship.

Chapter 7: National University of Singapore

Yuen-Ping Ho, Annette Singh and Poh-Kam Wong

Subjects: business and management, entrepreneurship, management and universities, education, management and universities

Extract

Yuen-Ping Ho, Annette Singh and Poh-Kam Wong INTRODUCTION In common with other newly industrialized economies in Asia, Singapore has been moving towards a knowledge-based strategy for economic development in recent years (Wong and Singh 2008). Policy makers have charted a course for Singapore’s transition from an investment-driven economy to an innovation-driven economy, emphasizing the building of intellectual capital and its commercialization to create value and jobs. While the role of Singapore’s universities in nurturing talent has always been recognized, increasing prominence has been given in recent years to their role in stimulating economic growth through industrially relevant research, technology commercialization, high-tech spin-offs, attraction of foreign talent and injecting an entrepreneurial mindset among their graduates. This chapter examines how the National University of Singapore (NUS), the leading university in Singapore, is changing its role in Singapore’s national innovation system (NIS). Singapore’s case is of particular interest to other small, late-industrializing economies because of its status as a relatively small city-state, where the pressure for globalization and the pace of change towards a knowledgebased economy to sustain economic survival are particularly intense. As such the challenges that the university system faces are likely to be similar to those that other small late-industrializing economies will be faced with in the near future. In particular, the experience of Singapore is of interest in studying how the mission and governance of local universities in latecomer economies may need to be reformed towards an ‘entrepreneurial university’ model to enable such economies to catch up more quickly...

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