Higher Education-Enterprise : Cooperation and the Entrepreneurial Graduate the Need for a New Paradigm

Deviating from their traditional focus on the abstract and the theory universities and higher education institutions (HEIs) have, of late, been paying a lot of attention to the practical applications of knowledge generated in the HEI system. Developing new products and services from research output and commercializing them through entrepreneurial ventures have been taken up by many HEIs with a view to make useful contributions to the economy and thereby improving the quality of life in the community. Prominent among the schemes undertaken by HEIs in this regard are:(1) Science and technology parks(2) University companies(3) Promotion of academic entrepreneurs.A review of these schemes, using the findings of various evaluation studies and case studies, has shown that they had very limited success in both developing and developed countries. In fact, the celebration of isolated successes of these in some developed countries has been shielding the lackluster performance of the majority. It appears that the paradigm of direct involvement and action by HEIs in the development of new products and services and their commercialization through entrepreneurial activities have not been appropriate. An alternative paradigm for the HEIs would be to contribute to the development of entrepreneurial individuals rather than of entrepreneurial ventures