Commercialisation dynamics system principles and support units of entrepreneurial universities

Abstract

Background: The Fourth Industrial Revolution has given rise to the demand for universities to produce knowledge and innovation. Universities play a significant role in equipping students with skills and knowledge conducive for commercialisation of innovation (CoI). This investigation addressed the commercialisation dynamics research gap of entrepreneurial universities.Objectives: To investigate commercialisation dynamics of a strategic information management (SIM) system to facilitate the CoI process of an entrepreneurial university.Method: This paper presents the qualitative component of a larger mixed method complex action research strategy. Data were collected through an in-depth face-to-face interview and analysed through descriptive content analysis.Results: The results highlight successful CoI practices fulfilled through the signification framework for the SIM system for commercialisation dynamics of entrepreneurial universities. The system is based on various components deemed suitable for commercialisation.Conclusion: This study has the potential to guide the University of Johannesburg (UJ), as well as other higher education institutions (HEIs) and institutions involved in entrepreneurship, innovation, and commercialisation, in creating an entrepreneurial environment for their innovators. Furthermore, this study can guide students, entrepreneurs, inventors, and innovators in terms of the process to follow to commercialise their business ideas, inventions, and innovation.Contribution: The SIM system incorporates dynamic system principles with intervention benchmarks and has intervention keys that will provide innovators with the safety net that will assist them in converting their ideas into commercialised products and services.