Enhancing technology transfer through entrepreneurial development: practices from innovation spaces

Abstract

As the research on technology transfer and innovation continues to develop, there is still a need to determine which mechanisms can be used to develop entrepreneurial capabilities to enhance technology transfer. This study aims to show how mechanisms such as innovation spaces can be used to support entrepreneurs by enhancing their ability to seize opportunities of high value. This can be attributed to the development of new-generation technologies stemming from the Fourth Industrial Revolution (4IR). Thus, the objective of this study is to demonstrate innovation spaces' role within knowledge-rich research environments such as universities, and how they enhance entrepreneurial abilities to create ventures of high value. To enhance the understanding of this concept, the important role of technologies, especially those attributable to 4IR to create entrepreneurial ventures of high value were reviewed. This was done through the lens of entrepreneurs who originate from academic environments within the context of South African universities. In order to achieve this, a theoretical overview of innovation, entrepreneurship, technology transfer and 4IR was developed. This study followed a case study methodology which allowed for an analysis of bounded entities, which-in this research-involved universities in South Africa and the innovation spaces they utilise to support entrepreneurs. The results indicated various themes and common practices across entities in South Africa, which create an ecosystem that aims to enhance technology transfer within the region by leveraging innovation spaces. This means that innovation spaces offer an early access point to technological innovation, which can emanate from academic research to accelerate the development of entrepreneurial ventures through an array of support resources and services. As such the findings show that technology transfer continues to play a pivotal role in this emerging technological paradigm, where strategies to address disruptions of 4IR require coordinated activities. It is recommended that further research be conducted based on an institutional theory approach to expand the focus of entrepreneurship, where innovation spaces are used as a launchpad in an attempt to improve their success rate.

A conceptual model of entrepreneurial competencies needed to utilise technologies of Industry 4.0

“…Thus, it is of vital importance with regard to the development of new business, innovation and opportunity seeking to achieve a competitive advantage (Feki and Mnif, 2016; Schmitz et al, 2017). One key activity behind this is effective technology and knowledge transfer (Jones et al, 2019; Kruger and Steyn, 2019). From this, it can be noted that ‘An entrepreneur is an innovator.…”

“…Innovation is more than invention. It is the commercialisation of concepts, modification of ideas and implementation of existing products, systems and resources to stimulate positive outcomes (Kruger and Steyn, 2019; Smith, 2006). The majority of literature in entrepreneurship is devoted to the entrepreneur’s ability to innovate (González-Cruz and Devece, 2018; Mazzei, 2018; Schmitz et al, 2017).…”

“…A key consideration in developing these skills and competencies is the mechanisms available to support the ideation and business side of innovative products. These include incubators, makerspaces, hackathons and relevant educational training such as Massive Open Online Course (MOOC) (Edoho, 2015; Fisk, 2017; Kruger and Steyn, 2019).…”

“…At the core of this connectivity – which ensures a level of interconnectedness like never before – is cyber–physical systems (CPS) (Bagheri et al, 2015; Lidong and Guanghui, 2016). The concept of I4 then is the fusion of technologies, allowing a bridge between the physical, digital and biological spheres at an unprecedented pace, changing the very way people live and interact (Kruger and Steyn, 2019; Leitão et al, 2016; Schwab, 2017).…”

The valorization of non-patent intellectual property in academic medical centers

“…Open innovation therefore requires the unfettered participation of users, since it is only in their hands of that context-specific innovations, which characterize non-patent IP, find their first-best-use (Henkel and von Hippel 2004 ). Second, the maturation of entrepreneurial capabilities among inventors is accelerated in ‘innovation spaces’ (Kruger and Steyn 2019 ), which are open to the free flow of ideas from non-market stakeholders and market participants alike. Closed form (traditional) policies attached to patent IP do not support open innovation systems because the inevitable network of interests generated by these systems require the writing of complex ownership claims that increases the costs of participating in such collaborations.…”