A Literature Review on Entrepreneurial University policies: Definitions, Factors and Theories

Abstract

The entrepreneurial university model has gained popularity in recent years, as universities seek to increase their impact on the economy and society by promoting innovation and entrepreneurship. Many universities now see entrepreneurship as an important part of their mission and are working to create an entrepreneurial culture that encourages and supports innovation and commercialization of scientific research. This paper is based on the literature review methodology and highlights the essential points about the entrepreneurial university discourse, provides the formal and informal factors that make possible the transformation of a university into an entrepreneurial one, as well as the theoretical models of entrepreneurial approaches. Being new to the entrepreneurial concept, the Albanian universities face a variety of challenges. The current status of universities into the modern society requires them to play a dual role in setting high teaching standards and students’ competence oriented learning and, on the other hand, play a boosting role in innovation and economic development of the country. This paper is of interest to Albanian universities that would like to establish and formalize entrepreneurial policies and overcome implementation obstacles.