Medical Entrepreneurship and Triple Helix Model in the Nigeria Health Sector

Abstract

AbstractThe connection between medical entrepreneurship and the triple helix model has not been well reported and investigated. This gap inspired the quest to expand the knowledge frontier in this poorly reported field. The chapter therefore investigates the connection between medical entrepreneurship and the triple helix model in the Federal Medical Centre (FMC), Abeokuta, Ogun State, Nigeria. To develop the chapter, a survey research design was adopted, while relying on primary data from stakeholders in the health sector. A total of seven hundred and ninety-four (794) completed and returned questionnaires as the sample size of this research study. The cross-sectional data collected were analyzed using descriptive statistics, multiple regression, and correlation coefficients, which revealed that the overall regression model was fit with the aid of SSPS Software. This finding indicates that there is a significant relationship between medical entrepreneurship and the triple helix model. The results show that there is no significant relationship between sensing capabilities and entrepreneurship growth (β = 0.193, t = 5.235, p < .05). The chapter concluded that medical entrepreneurship has long been recognized as an important economic activity because it proactively and innovatively provides unique healthcare products and services to diverse stakeholders in the healthcare sector. The chapter therefore recommends, among others, that the government create an enabling environment and financial support interventions to stimulate new medical-oriented start-ups based on the research findings.KeywordsMedical entrepreneurshipEntrepreneurTriple helix modelHealth sector