Creation of an Entrepreneurial University Culture, The University of Arkansas as a Case Study*

Abstract

AbstractMany universities successfully accomplish their primary mission of teaching and/or research, and yet have not established or nurtured a tradition of new venture creation based on those teaching and research successes. This lack of entrepreneurial tradition (or culture) means not only that there are few local new venture firms to act as role models for potential entrepreneurs in the academic community, but also that many community members with exciting new concepts never even consider that their concepts could result in a commercialized product. In order to establish such a culture of new venture creation within a university, decisions must be made to either spend limited resources to nurture early “model ventures,” or to spend the resources to create an infrastructure that will nurture many new ventures. As a result of such decisions being made and implemented over the last decade at the University of Arkansas (in partnership with governmental and private entities), the University is on the edge of becoming a center of entrepreneurial activity in the state of Arkansas. This paper will discuss the decisions that have been implemented at the University of Arkansas as a case study in establishing an entrepreneurial culture at a land grant institution of higher education.