Student Startup: Understanding the Role of the University in Making Startups Profitable Through University—Industry Collaboration

Abstract

Startups are key components of the National Innovation Systems (NISs) and have contributed to sustainable development in many countries. This is because of their ability to create employment opportunities and contribute to the national Gross Domestic Product (GDP). Hence, universities across the world have identified the importance of entrepreneurship training for students to help enhance their capability to develop their own startups. This study seeks to find ways of enhancing the profitability of student startups to galvanize industrial development. The approach adopted was the development of a hybrid model to optimize the development of entrepreneurship skills in university students based on existing theories and literatures. Data of 212 Korean universities were used and the results show that research fund, size of dedicated faculty, size of dedicated staff (academic and non-academic), practical entrepreneurship courses, and non-regular curriculum startup activities are key factors responsible for the profitability of student startups.