Can enabling entrepreneurship ecosystem improve commercialization of research in South African Higher Education Institutions?
DOI:
https://doi.org/10.20525/ijrbs.v11i8.2055Keywords:
Entrepreneurship ecosystem, Commercialization of research, Higher Education Institutions, Transformation, Business Recovery StrategiesAbstract
An entrepreneurship ecosystem entails a community of practice that displays the characteristics of creativity and innovation, risk-taking, a strategist, and an active participant in identifying opportunities and making decisions among others in the organization. The ecosystem can be key when Higher Education Institutions are engaged in the transformation process of commercialization. The paper intends to explore whether an entrepreneurship ecosystem can stimulate the commercialization of the research process in a sustainable way. The qualitative thematic review methodology is employed to achieve this aim. The commercialization process is viewed in an entrepreneurship ecosystem by looking at the entrepreneurial institutions, stakeholders involved, and the sustainable business model. It is recommended that adopting an entrepreneurial ecosystem for commercialization of research in Higher Education Institutions can play a crucial role in building their structures to be economically active; addressing graduate unemployment; providing recovery strategies to reboot businesses in communities, especially after the COVID-19 pandemic; and position themselves as entrepreneurial institutions.
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