A transformational tool to guide the transition towards an entrepreneurial university : Case study: The role of TU Wien in a growing tech-oriented spin-off environment

Abstract

Outside the core missions of education and academic research, universities are today expected to contribute to local economic growth by shaping and assisting with building the local entrepreneurial ecosystemn*. The study explores the complex dynamics of academic entrepreneurial ecosystems, examining their components, interactions, and underlying mechanisms. This study seeks to uncover actionable insights on effectively constructing and optimizing these ecosystems by investigating models and factors contributing to their efficiency. The university can ensure these incentives are met by understanding the incentives that trigger a stronger spin-off activity at the university level. New solutions for fostering entrepreneurial behavior at higher education institutions can be further developed due to a better understanding of the ecosystem's weaknesses and strengths. The goal is to offer strategic guidance and key principles for cultivating a vibrant and impactful academic entrepreneurial environment through a newly developed framework for facilitating sciencepreneurial activity. With a reputation for research excellence and the motto "Technology for People", TU Wien requires a framework that encapsulates its crucial components and considerations for constructing effective academic entrepreneurial ecosystems. Therefore, the framework will be tested on the TU Wien sciencepreneurial environment to assess its suitability in its transformational process. The framework proposed combines concepts from major theories. While the environment theory emphasizes the interactions between subsystems, embeddedness theory complements it by bringing into the discussion the effect of the ecosystem on new venture creation. The Resource-Based View (RBV) underscores the importance of various resources possessed by universities, from financial resources to technological capabilities, human capital, and organizational assets, while the competency-based view (CBV) concentrates on nurturing the entrepreneurial capabilities of individuals and making sure the future sciencepreneurs will develop an array of personal skills for effectively running deep-tech innovations. It aims to overcome the limitations of existing frameworks and consider the multifaceted nature of university entrepreneurship. The framework should serve as a comprehensive guide, encompassing key facets from the literature to facilitate a holistic approach to designing and nurturing these ecosystems for optimal success. *M. Sciarelli. Academic entrepreneurship: founding and governance determinants in university spin-off ventures. The Journal of TechnologyTransfer, 46:1083–1107, 2021.