Knowledge Commercialization and Valorization in Regional Economic Development
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Knowledge Commercialization and Valorization in Regional Economic Development

Edited by Tüzin Baycan

The commercialization of academic knowledge is increasingly seen as a potential economic development model, particularly for improving the capabilities and economic performance of regions. This insightful volume investigates the emerging factors in knowledge commercialization from an international perspective and highlights research agendas and challenges to be met across academia, industry and government.
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Chapter 6: Entrepreneurship education in the research-intensive entrepreneurial university

Edward Feser

Extract

The notion of the entrepreneurial university is the subject of a rapidly expanding literature, with scholarly work accelerating beginning in the 1990s (Henrekson and Rosenberg 2001; Rothaermel, Agung et al. 2007). According to Jacob et al. (2003, p. 1556) an entrepreneurial university is one that has “developed a comprehensive internal system for the commercialization and commodification of its knowledge”. The commercialization of university knowledge includes the delivery of custom courses such as executive education, consultancy services, fee-based extension services, contract research, and even new degree programmes designed to capture non-traditional student markets using new teaching approaches, technologies or delivery models (i.e., online education, blended online and traditional teaching, offsite programmes, etc.). Commodification is the effort to catalyse the development of wholly new goods and services from knowledge, innovation and technologies generated from university basic and applied research. Universities promote commodification through knowledge transfer programmes, cooperative research agreements with industry, patenting, licensing, marketing, and the cultivation of faculty or student start-ups and spin-outs, often in incubators and research parks.

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