Abstract:
“The search for new sources of finance to replace declining government funding for higher education is a strong
imperative for universities in a number of economies to adopt “new managerialism” and “entrepreneurialism”.
In the 21st century, the “entrepreneurial university” tends to displace the 20th century’s socially-oriented “mass
university”, yet must still co-exist with the traditional “ivory tower” university. “The role of the entrepreneurial
university is increasingly being seen as important for finding new ways to compete and succeed in uncertain and
unpredictable environments and for finding new solutions to the multiple challenges that need to be addressed for
the public good whether local or global”. The main objective of this article was to contribute to the understanding
of the entrepreneurial university and to determine the factors for successful entrepreneurship universities. The
author used entrepreneurship theories to define and conceptualize entrepreneurial university.
Design/methodology/approach: The author used a qualitative approach by reviewing literature on the concept of
entrepreneurship universities. Findings: This study presents a conceptualization for entrepreneurial universities
and proposes six factors for the successful entrepreneurial universities. Conclusions and recommendations: for
universities to transform to entrepreneurial universities it requires considerable effort, top managers of the
universities should change the style of management, reduce bureaucracy to enhance decision making, monitor
the external environment and reduce time wastage. The result of the study is useful to university managers,
investors, academicians and policy makers.
