Development of Entrepreneurial Ecosystem through University’s New Companies

Abstract

Research Question: This paper explores the potential of new start-ups and spin-offs within the university capacity and their impact on the process of creating an entrepreneurial ecosystem. Motivation: The research presented in this paper is motivated by the desire to analyse the role of university in entrepreneurial ecosystem based on the real case of the University of Novi Sad. An insight into relevant literature sources revealed that there exists a large influence of university’s new companies in developing the entire business environment and business sustainability. This example could be relevant to similar universities in the other developing countries, because current literature covers only examples from developed countries. One of this is a research paper conducted by the Stanford University under the name “An analysis of the entrepreneurial activity of the Stanford community over 50 years”. Idea: The main idea is to present the importance of University’s new companies in creating an entrepreneurial ecosystem, and their impact on the creation of economic activity and sustainable development. Data: This research includes economic activity data of business entities at the University of Novi Sad. This paper presents data on new companies within the University of Novi Sad in the period 1990-2015 which were available, as well as data on companies in the territory of the Republic of Serbia, Vojvodina region and the City of Novi Sad. In this analysis, 123 companies from the University of Novi Sad were included. Tools: In this paper comparative statistics was used based on collected data of the total number of companies and the number of employees according to company’s size and geographical location. For the purpose of this research, we used interactive internet portals Trading Economics and IvanStat. Findings: According to the analysis, the University of Novi Sad is a prominent example of the establishment and operation of new companies founded within it. The percentage of companies that have survived in the observed period is high and it is approximately 63%. Contribution: This paper gives us an overview of newly founded companies (start-ups and spin-offs) within the University of Novi Sad, especially focusing on economic activity and creating conditions for sustainable development.

Employees’ attitudes toward change with Lean Higher Education in Moroccan public universities

“…This is because the public opinion generally considers these institutions as inefficient, expensive and labor intensive (Balzer et al , 2015). Vekić et al (2019) state that one of the roles universities play is stimulating and supporting entrepreneurial activities. The development of an entrepreneurial ecosystem requires a stable environment and work conditions.…”

“…This modern organizational form increases the success of organizational change in higher education sector because HEIs inertia becomes less than the one generally found in the public sector. If HEIs want to fulfill and sustain their role and purpose in society, they must be entrepreneurial organizations (Grigg, 1994), through greater commercialization of knowledge and innovations (Vekić et al , 2019). So, these institutions need to adopt techniques and tools that are related to industry or services; such as the Lean principles and tools that are successfully used to improve higher education administrative processes (Doman, 2011).…”

Antecedents of University Entrepreneurship: Empirical Evidence from Serbian Public Universities / Prethodnice sveučilišnoga poduzetništva: empirijski dokazi sa srpskih državnih sveučilišta

“…It can be speculated that the change in university policies towards commercially-based research will improve. As already pointed out in recent research, some public universities in Serbia strive to become more entrepreneurial, although higher education itself lacks the entrepreneurial tradition (Stanković, 2006;Vekić et al, 2019).…”

Using Indicators of Entrepreneurial Ecosystem Quality for Segmenting Countries: A Biclustering Approach

“…The development of an entrepreneurial ecosystem, "an effective environment that will promote entrepreneurial behaviour and provide knowledge and technology transfer on the market" is of utter importance to all stakeholders -from entrepreneurs to universities, the general public, policymakers, to government [52]. Entrepreneurship is considered to be a key factor when it comes to economic growth and recovery, being relied upon to create new growth in developed and to kickstart growth in less developed countries and economies [53].…”