Universities-Driven Entrepreneurship Model - Creating Pockets of High Entrepreneurial Activity in Pakistan

Abstract

The paper highlights the relationship between economic growth and entrepreneurship, while appreciating the difference between necessity entrepreneurship and opportunity entrepreneurship, based on the available literature, and asserts that creation, survival and success of new ventures is an area which has traditionally been ignored by policy makers in Pakistan despite its potential to broaden economic base, contribute substantially towards economic growth and strengthen the process of wealth creation. The paper establishes that universities are a natural choice to initiate and promote opportunity entrepreneurship in the society. The paper then, capitalizing on key international examples and keeping in view the local circumstances/factors, proposes a framework - Universities-driven Entrepreneurship Model - for creating pockets of high entrepreneurial activity around universities. The paper presents specific policy recommendations for government and suggests key interventions for universities that can facilitate in transforming universities into entrepreneurial activity hubs, thus contributing towards national economic growth.