Edited by G. Page West III, Elizabeth J. Gatewood and Kelly G. Shaver
Chapter 8: Building an Entrepreneurial University: A Case Study Using a New Venture Development Approach
K. Mark Weaver, Robert D’Intino, DeMond Miller and Edward J. Schoen Introduction: development of a new venture model The purpose of this chapter is to present a model representing a new venture approach to building an entrepreneurial focus for a university. The model builds on core business development factors and describes how the support and cooperation of the leadership of a university help to create the necessary conditions to introduce a new program and university focus on entrepreneurship. Rowan University (Glassboro, NJ) is the model discussed in this chapter. University leadership (president, provost, deans of Business and Engineering) and the College of Business’s entrepreneurship chair recognized that an entrepreneurial focus with an interdisciplinary approach is one desirable way to build its competitive advantage. They acknowledged the need for an entrepreneurship program that integrates the best parts of the university into a long-term plan to capitalize on existing opportunities and create an environment that foments new opportunities. The adoption of a new venture development model provides the necessary first steps towards achieving the goal of building an entrepreneurial university. The model considers the needs, motivations, resource availability, implementation and product extensions needed to create an approach to university decision making that is consistent with venture feasibility approaches. Need for an entrepreneurial focus Many view the next major stage in the evolution of the US economy as the intensification and escalation of entrepreneurial efforts. Moving from an agrarian enterprise to an industrial and then a service economy, and the subsequent dependence on...
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