University Incubators: Cultivating Innovation for a Flourishing Entrepreneurial Society
Keywords:
University incubator, U-I linkages, Entrepreneurship, Triple HelixAbstract
This research explores the vital role of universities in shaping entrepreneurial societies through effective incubation systems. It traces the evolution of universities from teaching-focused institutions to hubs of research, innovation, and entrepreneurship. Despite the recognized importance of knowledge, innovation, and entrepreneurship, universities have not fully leveraged their potential in these areas. The study analyzes the strengths and weaknesses of university incubators, emphasizing their role in revenue generation and collaboration with businesses, government, and communities. Key factors driving this transformation include human capital, knowledge, research, and development. These elements have propelled economies towards knowledge-based models, emphasizing creativity, innovation, and supportive infrastructures. In entrepreneurial societies, universities play a pivotal role by fostering entrepreneurial culture and nurturing innovative leaders. The study concludes by outlining future directions and policy recommendations for enhancing university incubators, ensuring their continued contribution to entrepreneurial excellence and economic growth.
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