Significance and Role of Entrepreneurial University in Emerging Economies

Abstract

Universities have been among the oldest organizations who have stood unchanged until the advent of globalization, the information explosion, and the convergence of information, technology, and communication. However, today as it stands, universities the world over are in a dynamic state and they are forced to transform to meet the ever-changing needs of development and growth. This is due in part from educating the next generation who can make their place and compete in the globalized world. Thus, universities in emerging economies are now moving towards becoming ‘entrepreneurial universities' to meet the changing demand and challenges. Thus, by adopting a qualitative approach with an in-depth literature review, the aim of this paper, to understand the need, role, and significance of the entrepreneurial university, and provide a holistic framework for an entrepreneurial university and to identify the critical success factors that make a university truly entrepreneurial in the context of emerging economies.