Academic Entrepreneurship at the Start of Industry 5.0 Era
Nikolay Sterev - University of National and World Economy, 8-mi Decemvri 19, Sofia, Bulgaria
DOI: https://doi.org/10.31410/Balkans.JETSS.2024.7.2.68-79
Nikolay Sterev - University of National and World Economy, 8-mi Decemvri 19, Sofia, Bulgaria
DOI: https://doi.org/10.31410/Balkans.JETSS.2024.7.2.68-79
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Balkans Journal of Emerging Trends in Social Sciences, (2024) , Vol 7, No 2
ISSN: 2620-164X |
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Abstract: The economic theory has been once again looping to the role of the entrepreneur. The differences that we find are based on the changing role of the Universities as well as the expected shift to Industry 5.0. The focus of the paper is set on the successful entrepreneurs that have been “created” in the universities. Accordingly, the main hypothesis is: the Industry 5.0 instruments reveal a quite new world for academic entrepreneurs working in virtual open academic entrepreneurial centers. The structure of the paper is following: the first paragraph analyses the shift of the University role to support entrepreneurs based on ‘business – academia’ cooperation; the second paragraph presents the entrepreneurial knowledge that is important nowadays; the third paragraph gives a discussion on the digital instruments that stay behind the contemporary entrepreneurial training; and finally, some recommendations how virtual co-creation and co-working clubs should be organized will be given in conclusion.
Keywords: Academic Entrepreneurship, Industry 5.0, Co-working and Co-creation.
JEL Classification L26
Keywords: Academic Entrepreneurship, Industry 5.0, Co-working and Co-creation.
JEL Classification L26
REFERENCES
Bacigalupo, M., Kampylis, P., Punie, Y., & Van Den Brande, L. (2016). EntreComp: The Entrepreneurship Competence Framework. EUR 27939 EN. Luxembourg (Luxembourg): Publications Office of the European Union; 2016. JRC101581, https://publications.jrc.ec.europa.eu/repository/handle/JRC101581, https://doi.org/10.2791/593884
Biolcheva, P. (2018). Trends in modern education. In Conference: 2nd International Scientific Conference: Economics and Management, DOI: https://doi.org/10.31410/EMAN.2018.838
Cantillon, R. (1755). Essai sur la nature du commerce en general, Paris https://doi.org/10.4324/9781351311526
Cooney, T. M. (2012). Entrepreneurship Skills for Growth-Orientated Businesses, Report for the Workshop on ‘Skills Development for SMEs and Entrepreneurship’, Copenhagen, (Vol. 28, pp. 1-24). November 2012
Cotragli, B. (1573). Deila Merkatura et del Mercante Parfeto, Venice
Da Silva Teles, D., Nieuwenhuizen, C., & Schachtebeck, C. (2021). Entrepreneurial education and individual entrepreneurial orientation: an experts’ perspective. An empirical Delphi study. EUREKA: Social and Humanities, 4, 46–56. http://doi.org/10.21303/2504-5571.2021.001943.
De Silva, M., Al-Tabbaa, O., & Pinto, J. (2023). Academics engaging in knowledge transfer and co-creation: Push causation and pull effectuation?, Research Policy 52 (2023), https://doi.org/10.1016/j.respol.2022.104668
Feldman, M., Feller, I., Bercovitz, J., & Burton, R. (2002). Equity and the Technology Transfer Strategies of American Research Universities. Management Science 48(1):105-121. DOI: http://dx.doi.org/10.1287/mnsc.48.1.105.14276
Franke, N., & Luthje, C. (2004). Entrepreneurial intentions of business students: A benchmarking study. International Journal of Innovation and Technology Management, (1/3), 269 - 288. DOI: https://doi.org/10.1142/S0219877004000209
Hayter, C. S., Nelson, A. J., Zayed, S., & O’Connor, A. C. (2018). Conceptualizing academic entrepreneurship ecosystems: a review, analysis and extension of the literature. J Technol Transf 43, 1039–1082 (2018). https://doi.org/10.1007/s10961-018-9657-5
Hébert, R. F., & Link, A. N. (1989). In search of the meaning of entrepreneurship. Small Business Economics 1, 39–49 (1989). https://doi.org/10.1007/BF00389915
Huffman, D., & Quigley, J. M. (2002). The role of the university in attracting high tech entrepreneurship: A Silicon Valley tale, Annals of Regional Science, 36, 3, 403 – 419, https://doi.org/10.1007/s001680200104
Hughes, T. (2014). Co-creation: moving towards a framework for creating innovation in the triple helix’, Prometheus, 32, 4, 337–350, https://doi.org/10.1080/08109028.2014.971613
Jackson, D., Shan, H., & Meek, S. (2022). Enhancing graduates’ enterprise capabilities through work-integrated learning in co-working spaces. High Educ, 84, 101–120 https://doi.org/10.1007/s10734-021-00756-x
Jones, G., & Wadhwani, R. D. (2006). Entrepreneurship and Business History: Renewing the Research Agenda, 2006, https://www.hbs.edu/ris/Publication%20Files/07-007.pdf
Kartika, D. I., Setijanti, P., & Septanti, D. (2019). Co - Working Space Design Preferences Factors at Surabaya User of Indonesia. International Journal of Engineering Research and Advanced Technology 05, 02 (2019), 13–19, https://doi.org/10.31695/IJERAT.2019.3374
Kassa, E. T., & Mirete, T. G. (2022). Exploring factors that determine the innovation of micro and small enterprises: The role of entrepreneurial attitude towards innovation in Woldia, Ethiopia, Journal of Innovation and Entrepreneurship, 11, 1, 1-16, https://doi.org/10.1186/s13731-022-00214-7
Klofsten, M., & Jones-Evans, D. (2000). Comparing Academic Entrepreneurship in Europe – The Case of Sweden and Ireland. Small Business Economics, 14, 299–309. https://doi.org/10.1023/A:1008184601282
Krieger, A., Block, J., Stuetzer, M., Obschonka, M., & Salmela-Aro, K. (2022). Closing the gender gap in entrepreneurship: The importance of skill variety. PLoS One. Jul 8, 17(7): e0270976. https://doi.org/10.1371/journal.pone.0270976
Kutzhanova, N., Lyons, T. S., & Lichtenstein, G.A. (2009). Skill-Based Development of Entrepreneurs and the Role of Personal and Peer Group Coaching in Enterprise Development, Economic Development Quarterly, 20, 10, https://doi.org/10.1177/0891242409336547
Li, G., Wu, J., & Li, N. (2022). Identifying the Value Co-Creation Model and Upgrading Path of Manufacturing Enterprises from the Value Network Perspective. Sustainability’22, 14, 16008, https://doi.org/10.3390/su142316008
Mahlberg, T., & Riemer, K. (2017). Co-working spaces Australia: The new places where people work, businesses grow, and corporates connect. Retrieved from Sydney Business Insights, http://sbi.sydney.edu.au/coworking-spaces-aust
Miranda, F. J., Chamorro-Mera, A., & Rubio, S. (2017). Academic entrepreneurship in Spanish universities: An analysis of the eterminants of entrepreneurial intention, European Research on Management and Business Economics, 23, 2, 113-122. https://doi.org/10.1016/j.iedeen.2017.01.001
Nieuwenhuizen, C., & Groenewald, D. (2008). Entrepreneurs’ learning preferences: A guide for entrepreneurship education. Entrepreneurs’ Learning Preferences: A Guide for Entrepreneurship Education, Acta Commercii, 8(1), 128-144, https://doi.org/10.4102/ac.v8i1.76
O’Shea, R., Allen, T. J., O’Gorman, C., & Roche, F. (2004). Universities and Technology Transfer: A Review of Academic Entrepreneurship Literature, Irish Journal of Management. 25, 2, 11-29.
Pan, J., Cho, T. Y., & Bardhan, R. (2022). Occupancy level prediction based on a sensor-detected dataset in a co-working space, BuildSys ’22: Proceedings of the 9th ACM International Conference on Systems for Energy-Efficient Buildings, Cities, and Transportation, November 09–10, 2022, Boston, MA, USA, 340–347, https://doi.org/10.1145/3563357.3566133
Saleh, Z. (2019). Artificial Intelligence Definition, Ethics and Standards. Artificial Intelligence Definition, Ethics and Standards 1-11 (researchgate.net)
Schumpeter, J. (1947). Capitalism, Socialism and Democracy, Routledge
Siegel, D. S., & Wright, M. (2015), Academic Entrepreneurship: Time for a Rethink?. Brit J Manage, 26: 582-595. https://doi.org/10.1111/1467-8551.1211
Sterev, N. (2023). Pre-Incubation Toolkits for Academic Entrepreneurship Fostering: Bulgarian Case, Strategii na Obrazovatelnata i Nauchnata Politika – strategies for policy in science and education, 3, 90-103. https://doi.org/10.53656/str2023-3s -7-pre
Sterev, N., Kostadinov, K., Yordanov, D., & Yorgova, T. (2023). Open Entrepreneurial Academic Centers. – Economic Studies (Ikonomicheski Izsledvania), 32(4), pp. 116-134.
Sterev, N., Milusheva, P., Hertleer, C., Saeed, H., & Guagliumi, V. (2021). Entrepreneurial process in Textile and clothing industry: Technical Report, PH-TU Sofia, r4_Entrepreneurial_Process_TCI.pdf (ict-tex.eu)
Sterev, N., & Penchev, P. (2023). Historical Development of Business Economics: Bulgarian Case, in Çalıyurt K.T. (ed.), History of Accounting, Management, Business and Economics, Volume I, pp. 207-231. https://doi.org/10.1007/978-981-99-3346-4_10
Takahashi, S., & Takahashi, V. P. (2022). Integrated co-creation process with multiple stakeholders in innovation networks, Innovation & Management Review, 19, 4, 382-399, https://doi.org/10.1108/INMR-10-2020-0142
Tam, H. L., Asamoah, E., & Chan, A. Y. (2021). Developing Social Entrepreneurship as an Intervention to Enhance Disadvantaged Young People’s Sense of Self-Worth and Career Competence in Hong Kong, Applied Research in Quality of Life, 16: 2497–2526, https://doi.org/10.1007/s11482-021-09917-7
Taylor, J. (2006). Managing the Unmanageable: The Management of Research in Research-Intensive Universities, Higher Education Management and Policy, 18/2, https://doi.org/10.1787/hemp-v18-art8-en.
Toole, A. A., & Czarnitzki, D. (2007). Biomedical academic entrepreneurship through the SBIR program, Journal of Economic Behavior & Organization, 63, 716–738, https://doi.org/10.1016/j.jebo.2006.05.011
Unger, J. M., Rauch, A., Frese, M., & Rosenbusch, N. (2011). Human capital and entrepreneurial success: A meta-analytical review, Journal of Business Venturing, 26, 3, pp.341-358, https://doi.org/10.1016/j.jbusvent.2009.09.004.
Wood, M. S. (2011). A process model of academic entrepreneurship, Business Horizons, 54, 2, pp. 153-161, https://doi.org/10.1016/j.bushor.2010.11.004
Yordanov, D. (2019). Main characteristics of the modern entrepreneur, Entrepreneurship, VІI, 1, pp. 7-15, http://ep.swu.bg/images/pdfarticles/2019/MAIN_CHARACTERISTICS_OF_THE_MODERN.pdf
Yordanov, D. (2023). Toolkit for Assessing Entrepreneurial Competencies among learners, Strategii na Obrazovatelnata i Nauchnata Politika – strategies for policy in science and education, 3s/2023, pp. 25-44, https://doi.org/10.53656/str2023-3s-2-too
Yordanova, Z. (2019). A model for evaluation of Innovative universities, Educational Innovations and Applications- Tijus, Meen, Chang, pp. 459-462, https://doi.org/10.35745/ecei2019v2.117
Yordanova, Z. (2021). Innovation Process in Universities – A Bibliometric Analysis. In: Guarda, T., Portela, F., Santos, M.F. (eds) Advanced Research in Technologies, Information, Innovation and Sustainability. ARTIIS 2021. Communications in Computer and Information
Science, vol 1485. Springer, Cham. https://doi.org/10.1007/978-3-030-90241-4_16
Yordanova, Z., & Stoimenova, B. (2021). Smart Educational Innovation Leads to University Competitiveness. In: Tiwari, S., Trivedi, M., Mishra, K., Misra, A., Kumar, K., Suryani, E. (eds) Smart Innovations in Communication and Computational Sciences. Advances in Intelligent Systems and Computing, vol 1168. Springer, Singapore. https://doi.org/10.1007/978-981-15-5345-5_17
Zuniga, M., Buffel, T., & Arrieta, F. (2021). Analysing Co-creation and Co-production Initiatives for the Development of Age-friendly Strategies: Learning from the Three Capital Cities in the Basque Autonomous Region. Social Policy and Society, 22(1), 53-68. https://doi.org/10.1017/S1474746421000282
REFERENCES
Bacigalupo, M., Kampylis, P., Punie, Y., & Van Den Brande, L. (2016). EntreComp: The Entrepreneurship Competence Framework. EUR 27939 EN. Luxembourg (Luxembourg): Publications Office of the European Union; 2016. JRC101581, https://publications.jrc.ec.europa.eu/repository/handle/JRC101581, https://doi.org/10.2791/593884
Biolcheva, P. (2018). Trends in modern education. In Conference: 2nd International Scientific Conference: Economics and Management, DOI: https://doi.org/10.31410/EMAN.2018.838
Cantillon, R. (1755). Essai sur la nature du commerce en general, Paris https://doi.org/10.4324/9781351311526
Cooney, T. M. (2012). Entrepreneurship Skills for Growth-Orientated Businesses, Report for the Workshop on ‘Skills Development for SMEs and Entrepreneurship’, Copenhagen, (Vol. 28, pp. 1-24). November 2012
Cotragli, B. (1573). Deila Merkatura et del Mercante Parfeto, Venice
Da Silva Teles, D., Nieuwenhuizen, C., & Schachtebeck, C. (2021). Entrepreneurial education and individual entrepreneurial orientation: an experts’ perspective. An empirical Delphi study. EUREKA: Social and Humanities, 4, 46–56. http://doi.org/10.21303/2504-5571.2021.001943.
De Silva, M., Al-Tabbaa, O., & Pinto, J. (2023). Academics engaging in knowledge transfer and co-creation: Push causation and pull effectuation?, Research Policy 52 (2023), https://doi.org/10.1016/j.respol.2022.104668
Feldman, M., Feller, I., Bercovitz, J., & Burton, R. (2002). Equity and the Technology Transfer Strategies of American Research Universities. Management Science 48(1):105-121. DOI: http://dx.doi.org/10.1287/mnsc.48.1.105.14276
Franke, N., & Luthje, C. (2004). Entrepreneurial intentions of business students: A benchmarking study. International Journal of Innovation and Technology Management, (1/3), 269 - 288. DOI: https://doi.org/10.1142/S0219877004000209
Hayter, C. S., Nelson, A. J., Zayed, S., & O’Connor, A. C. (2018). Conceptualizing academic entrepreneurship ecosystems: a review, analysis and extension of the literature. J Technol Transf 43, 1039–1082 (2018). https://doi.org/10.1007/s10961-018-9657-5
Hébert, R. F., & Link, A. N. (1989). In search of the meaning of entrepreneurship. Small Business Economics 1, 39–49 (1989). https://doi.org/10.1007/BF00389915
Huffman, D., & Quigley, J. M. (2002). The role of the university in attracting high tech entrepreneurship: A Silicon Valley tale, Annals of Regional Science, 36, 3, 403 – 419, https://doi.org/10.1007/s001680200104
Hughes, T. (2014). Co-creation: moving towards a framework for creating innovation in the triple helix’, Prometheus, 32, 4, 337–350, https://doi.org/10.1080/08109028.2014.971613
Jackson, D., Shan, H., & Meek, S. (2022). Enhancing graduates’ enterprise capabilities through work-integrated learning in co-working spaces. High Educ, 84, 101–120 https://doi.org/10.1007/s10734-021-00756-x
Jones, G., & Wadhwani, R. D. (2006). Entrepreneurship and Business History: Renewing the Research Agenda, 2006, https://www.hbs.edu/ris/Publication%20Files/07-007.pdf
Kartika, D. I., Setijanti, P., & Septanti, D. (2019). Co - Working Space Design Preferences Factors at Surabaya User of Indonesia. International Journal of Engineering Research and Advanced Technology 05, 02 (2019), 13–19, https://doi.org/10.31695/IJERAT.2019.3374
Kassa, E. T., & Mirete, T. G. (2022). Exploring factors that determine the innovation of micro and small enterprises: The role of entrepreneurial attitude towards innovation in Woldia, Ethiopia, Journal of Innovation and Entrepreneurship, 11, 1, 1-16, https://doi.org/10.1186/s13731-022-00214-7
Klofsten, M., & Jones-Evans, D. (2000). Comparing Academic Entrepreneurship in Europe – The Case of Sweden and Ireland. Small Business Economics, 14, 299–309. https://doi.org/10.1023/A:1008184601282
Krieger, A., Block, J., Stuetzer, M., Obschonka, M., & Salmela-Aro, K. (2022). Closing the gender gap in entrepreneurship: The importance of skill variety. PLoS One. Jul 8, 17(7): e0270976. https://doi.org/10.1371/journal.pone.0270976
Kutzhanova, N., Lyons, T. S., & Lichtenstein, G.A. (2009). Skill-Based Development of Entrepreneurs and the Role of Personal and Peer Group Coaching in Enterprise Development, Economic Development Quarterly, 20, 10, https://doi.org/10.1177/0891242409336547
Li, G., Wu, J., & Li, N. (2022). Identifying the Value Co-Creation Model and Upgrading Path of Manufacturing Enterprises from the Value Network Perspective. Sustainability’22, 14, 16008, https://doi.org/10.3390/su142316008
Mahlberg, T., & Riemer, K. (2017). Co-working spaces Australia: The new places where people work, businesses grow, and corporates connect. Retrieved from Sydney Business Insights, http://sbi.sydney.edu.au/coworking-spaces-aust
Miranda, F. J., Chamorro-Mera, A., & Rubio, S. (2017). Academic entrepreneurship in Spanish universities: An analysis of the eterminants of entrepreneurial intention, European Research on Management and Business Economics, 23, 2, 113-122. https://doi.org/10.1016/j.iedeen.2017.01.001
Nieuwenhuizen, C., & Groenewald, D. (2008). Entrepreneurs’ learning preferences: A guide for entrepreneurship education. Entrepreneurs’ Learning Preferences: A Guide for Entrepreneurship Education, Acta Commercii, 8(1), 128-144, https://doi.org/10.4102/ac.v8i1.76
O’Shea, R., Allen, T. J., O’Gorman, C., & Roche, F. (2004). Universities and Technology Transfer: A Review of Academic Entrepreneurship Literature, Irish Journal of Management. 25, 2, 11-29.
Pan, J., Cho, T. Y., & Bardhan, R. (2022). Occupancy level prediction based on a sensor-detected dataset in a co-working space, BuildSys ’22: Proceedings of the 9th ACM International Conference on Systems for Energy-Efficient Buildings, Cities, and Transportation, November 09–10, 2022, Boston, MA, USA, 340–347, https://doi.org/10.1145/3563357.3566133
Saleh, Z. (2019). Artificial Intelligence Definition, Ethics and Standards. Artificial Intelligence Definition, Ethics and Standards 1-11 (researchgate.net)
Schumpeter, J. (1947). Capitalism, Socialism and Democracy, Routledge
Siegel, D. S., & Wright, M. (2015), Academic Entrepreneurship: Time for a Rethink?. Brit J Manage, 26: 582-595. https://doi.org/10.1111/1467-8551.1211
Sterev, N. (2023). Pre-Incubation Toolkits for Academic Entrepreneurship Fostering: Bulgarian Case, Strategii na Obrazovatelnata i Nauchnata Politika – strategies for policy in science and education, 3, 90-103. https://doi.org/10.53656/str2023-3s -7-pre
Sterev, N., Kostadinov, K., Yordanov, D., & Yorgova, T. (2023). Open Entrepreneurial Academic Centers. – Economic Studies (Ikonomicheski Izsledvania), 32(4), pp. 116-134.
Sterev, N., Milusheva, P., Hertleer, C., Saeed, H., & Guagliumi, V. (2021). Entrepreneurial process in Textile and clothing industry: Technical Report, PH-TU Sofia, r4_Entrepreneurial_Process_TCI.pdf (ict-tex.eu)
Sterev, N., & Penchev, P. (2023). Historical Development of Business Economics: Bulgarian Case, in Çalıyurt K.T. (ed.), History of Accounting, Management, Business and Economics, Volume I, pp. 207-231. https://doi.org/10.1007/978-981-99-3346-4_10
Takahashi, S., & Takahashi, V. P. (2022). Integrated co-creation process with multiple stakeholders in innovation networks, Innovation & Management Review, 19, 4, 382-399, https://doi.org/10.1108/INMR-10-2020-0142
Tam, H. L., Asamoah, E., & Chan, A. Y. (2021). Developing Social Entrepreneurship as an Intervention to Enhance Disadvantaged Young People’s Sense of Self-Worth and Career Competence in Hong Kong, Applied Research in Quality of Life, 16: 2497–2526, https://doi.org/10.1007/s11482-021-09917-7
Taylor, J. (2006). Managing the Unmanageable: The Management of Research in Research-Intensive Universities, Higher Education Management and Policy, 18/2, https://doi.org/10.1787/hemp-v18-art8-en.
Toole, A. A., & Czarnitzki, D. (2007). Biomedical academic entrepreneurship through the SBIR program, Journal of Economic Behavior & Organization, 63, 716–738, https://doi.org/10.1016/j.jebo.2006.05.011
Unger, J. M., Rauch, A., Frese, M., & Rosenbusch, N. (2011). Human capital and entrepreneurial success: A meta-analytical review, Journal of Business Venturing, 26, 3, pp.341-358, https://doi.org/10.1016/j.jbusvent.2009.09.004.
Wood, M. S. (2011). A process model of academic entrepreneurship, Business Horizons, 54, 2, pp. 153-161, https://doi.org/10.1016/j.bushor.2010.11.004
Yordanov, D. (2019). Main characteristics of the modern entrepreneur, Entrepreneurship, VІI, 1, pp. 7-15, http://ep.swu.bg/images/pdfarticles/2019/MAIN_CHARACTERISTICS_OF_THE_MODERN.pdf
Yordanov, D. (2023). Toolkit for Assessing Entrepreneurial Competencies among learners, Strategii na Obrazovatelnata i Nauchnata Politika – strategies for policy in science and education, 3s/2023, pp. 25-44, https://doi.org/10.53656/str2023-3s-2-too
Yordanova, Z. (2019). A model for evaluation of Innovative universities, Educational Innovations and Applications- Tijus, Meen, Chang, pp. 459-462, https://doi.org/10.35745/ecei2019v2.117
Yordanova, Z. (2021). Innovation Process in Universities – A Bibliometric Analysis. In: Guarda, T., Portela, F., Santos, M.F. (eds) Advanced Research in Technologies, Information, Innovation and Sustainability. ARTIIS 2021. Communications in Computer and Information
Science, vol 1485. Springer, Cham. https://doi.org/10.1007/978-3-030-90241-4_16
Yordanova, Z., & Stoimenova, B. (2021). Smart Educational Innovation Leads to University Competitiveness. In: Tiwari, S., Trivedi, M., Mishra, K., Misra, A., Kumar, K., Suryani, E. (eds) Smart Innovations in Communication and Computational Sciences. Advances in Intelligent Systems and Computing, vol 1168. Springer, Singapore. https://doi.org/10.1007/978-981-15-5345-5_17
Zuniga, M., Buffel, T., & Arrieta, F. (2021). Analysing Co-creation and Co-production Initiatives for the Development of Age-friendly Strategies: Learning from the Three Capital Cities in the Basque Autonomous Region. Social Policy and Society, 22(1), 53-68. https://doi.org/10.1017/S1474746421000282
Association of Economists and Managers of the Balkans
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E-mail: [email protected]
www.udekom.org.rs
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179 Ustanicka St, 11000 Belgrade, Republic of Serbia
E-mail: [email protected]
www.udekom.org.rs
Tel. +381 62 812 5779
VAT number: 108747027
Registration number.: 28157347
Registration number.: 28157347