The modern entrepreneurial university and its community

How do public research universities express their connection to the community they serve? My favorite is Arizona State University’s New American University statement. Everyone who is doing research is invited to pursue ideas that create new value.

“ASU has a vision to be a New American University, promoting excellence in its research and among its students, faculty and staff, increasing access to its educational resources and working with communities to positively impact social and economic development.

“ASU believes that you should measure the value of research by the impact it has on society. ASU encourages its scholars to pursue research that will impact society, conduct that research in a way that recognizes its potential impact, and share it with people in a way for it to make that impact. This idea shapes one of ASU’s goals: whatever the research encompasses, the university will measure success by looking at the ways in which that research has changed patterns in society. This could be a social scientist figuring out how to help politicians make better decisions. Or it could be a bioengineer working to make a cancer vaccine. Whatever the topic, the goal is: impact.”

That's inspiring to academic community members with exciting new concepts that have never considered that their concepts could result in a commercialized product. If we nurture new venture creation based on our teaching and research successes, we tap a vast resource that could be used for the betterment of our supporting communities.

The journal article “Creation of an Entrepreneurial University Culture” chronicles how one university focused on four elements that significantly contributed to a change in their entrepreneurial culture:

1. Establishment of a technology business incubator

2. Establishment of centers of coordinated research activities

3. Establishment of entrepreneurial elements in degree curricula

4. Establishment of research linkages to businesses

Creation of an entrepreneurial culture in a university environment is a complex task that requires the efforts of many dedicated individuals. These individuals are located in industry, academe, and government, and often are only loosely coordinated in their activities with one another. But they all share a common passion to provide new and expanded opportunities for the community.