A Model for the Assessment and Extraction of Entrepreneurial Value from University Research

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In the paper we examine the approach of these two organisations who have widely-tested, validated models rigorously tested in the competitive consulting market by demanding clients. Some of the issues faced include: How to assess entrepreneurial opportunities emanating from the University and research sectors; Alignment of the different value systems between Universities and the commercial world; The difficulties in extracting new ventures from the University environment; Handling of Intellectual property; Entrepreneurial motivation within Universities; Lack of entrepreneurial thinking within Universities; Balancing ‘blue-sky’ research with creating commercially focussed new ventures; Navigating the path-to-market for new ventures and understanding when to partner. Highlight of the approaches taken include: The assessment of entrepreneurial opportunities within the University and research sector to create a three dimensional model that considers both the market opportunity with the needs of the University; Developing hands-on training workshops working closely with potential entrepreneurs using their own projects; Developing ‘board-room scenarios’ to test the viability of new entrepreneurial ventures; Hosting opportunity-mining workshops within Universities addressing market issues to create entrepreneurial opportunities; Encouraging and rewarding disclosure; Developing partnership relationships between the potential entrepreneurs and commercial clients; Creating mechanisms to develop relevant entrepreneurial offerings whilst working closely with the market; Reversing traditional models to use the technology transfer office as a support mechanism rather than a bottleneck; The creation of ‘new-venture assessment’ software, Insight IPM, to assist Universities and research institutions with the task of assessing and improving entrepreneurial ventures; Creating transparent mechanisms for the exchange of entrepreneurial ventures from the University environment to the commercial sector. The paper has wide-ranging implications for the University sector (and partner) providing tested mechanisms for the extraction of Entrepreneurial value from the University environment

Keywords: New Venture Assessment, Entrepreneurial Value, University Research Sector
Stream: Knowledge and Technology
Presentation Type: Paper Presentation in English
Paper: A paper has not yet been submitted.

Dr. Thomas Baaken

Professor, Economics, Fachhochschule Münster
Münster, Germany

Thomas Baaken is Professor for business-to-business and high-tech-marketing since 1990. He is leader of the research major “Science Marketing”, funded by the Ministry for Science and Research Northrhine Westfalia, Germany. Professor Baaken has a PhD in Business Administration at the University of Berlin and a Master of Business Administration at the University of Berlin. Professor Baaken regularly presents at conferences worldwide and is the creator of the Global Science to Business Marketing Conference, now in it's 6th year.

Anthony Francis

CEO, Flinders Innovation, Flinders University
Adelaide, Australia

Can be submitted upon request

Todd Davey

Manager International Projects, Economics Department, Fachhochschule Münster
Münster, Germany

Ref: T08P0252