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Development of academic entrepreneurship in the system of innovation models

Author

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  • O. V. Sysoeva

    (Yuri Gagarin State Technical University of Saratov)

Abstract

In the knowledge-based economy, universities’ participation is not limited to being just a means of knowledge transfer and generation; they also become direct contributors to the economic process and often play the central role in the development of innovations. Academic entrepreneurship is becoming more widespread within a new function of universities connected with foundation of small innovative companies (spin-offs). The paper focuses on studying this trend and the concept “academic entrepreneur” as the main participant of spin-offs. The methodological basis of the study includes the knowledge-based approach and models of universities’ innovation. By systematising scholarly literature, the author examines the emergence of Quadruple Helix and Penta Helix models of innovation that include academic entrepreneurship in contrast to Triple Helix earlier introduced by Henry Etzkowitz. Foreign experience reveals obvious benefits of academic entrepreneurship as society shifts from conventional model characterized by industrial economy to more complex ones that contain such elements of interaction as “Mass Media/Society” and “Environment”. The author investigates measures taken by the Russian government targeted at stimulation of spin-off creation, and concludes that they remain insufficient due to, inter alia, the absence of a wide support from private investors. So far, the university community has been lacking a proper understanding of organisational structure of small enterprises being established, what limits considerably the efficiency of their operation. The author suggests a model for interaction between the “founder”, “mentor” and “external entrepreneur” in spin-off companies, which allows organising business and executive groups and distinguishing between their functions and responsibilities.

Suggested Citation

  • O. V. Sysoeva, 2019. "Development of academic entrepreneurship in the system of innovation models," Journal of New Economy, Ural State University of Economics, vol. 20(3), pages 83-100, July.
    • Handle: RePEc:url:izvest:v:20:y:2019:i:3:p:83-100
    DOI: 10.29141/2073-1019-2019-20-3-6
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    References listed on IDEAS

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    1. Beckman, Christine M. & Burton, M. Diane & O'Reilly, Charles, 2007. "Early teams: The impact of team demography on VC financing and going public," Journal of Business Venturing, Elsevier, vol. 22(2), pages 147-173, March.
    2. Loet Leydesdorff & Henry Etzkowitz, 1998. "The Triple Helix as a model for innovation studies," Science and Public Policy, Oxford University Press, vol. 25(3), pages 195-203, June.
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