Table of Contents

Academic Entrepreneurship in Asia

Academic Entrepreneurship in Asia

The Role and Impact of Universities in National Innovation Systems

New Horizons in Entrepreneurship series

Edited by Poh Kam Wong

This timely book examines the rising phenomenon of academic entrepreneurship and technology commercialization among leading universities in Asia, by presenting in-depth analysis of thirteen leading universities from nine Asian economies, including Tokyo University in Japan, Tsinghua in China, IIT Bombay in India, and the National University of Singapore.

Chapter 5: University Technology Commercialization and Academic Entrepreneurship in Korea: The KAIST Experience

Zong-Tae Bae and Sangmoon Park

Subjects: asian studies, asian business, asian innovation and technology, asian politics and policy, business and management, asia business, entrepreneurship, international business, management and universities, organisational innovation, economics and finance, regional economics, education, management and universities, innovation and technology, asian innovation, innovation policy, organisational innovation, politics and public policy, asian politics

Extract

Zong-Tae Bae and Sangmoon Park 5.1 INTRODUCTION Traditionally academic universities have been regarded as the source of basic research and important suppliers of high-caliber graduates for industry and society. Under these expectations of universities, academic researchers in universities have paid little attention to building strong collaborations with industry and commercializing their technological assets. Currently a group of leading universities in the USA has earned sizable economic returns from their technology commercialization and entrepreneurial activities (Siegel et al. 2007; Etzkowitz et al. 2000). These changing roles of universities are influencing university commercialization programs and the Korean government’s policy (KRF 2007). Among the catching-up countries, Korea has shown very successful economic growth based on science and technology (S&T) activities and research and development (R&D) investment (Lee et al. 1988; Kim 1997). In the era of technological catch-up, a major role of Korean universities has been to appropriately supply educated S&T engineers who can understand advanced technologies and modify existing knowledge into upgraded knowledge (Lee 2005). Since the 1990s Korea has been struggling to sustain its global competitiveness among advanced countries and emerging economies. There are increasing demands for new roles of universities, to generate world-class research output and commercialize their own intellectual property. Under much deregulation of university commercialization and entrepreneurial activities, Korean universities are now much more interested in how to commercialize their technologies and knowledge for economic results. However most Korean universities have little experience in, or means of, generating advanced 108 M2781 - WONG TEXT.indd 108...

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