Engines of Innovation: The Entrepreneurial University in the Twenty-First Century

By Holden Thorp; Buck Goldstein | Go to book overview

Conclusion

The philosopher Alfred North Whitehead said, “Universities create the future”; and Drew Gilpin Faust, president of Harvard, explained that they do so “in two fundamental ways: by educating those to whom the future belongs, and by generating the ideas and discoveries that can transform the present and build a better world.”1 Despite unprecedented challenges we remain enthusiastic about the role of research universities at this moment in history—perhaps because as entrepreneurs we habitually see opportunity when confronted with adversity.

The challenges are real, and daunting. On average, university endowments are 30 percent smaller than they were at the beginning of the financial crisis, and the situation is much worse for many of the institutions whose budgets depend on state funds. Whether voluntarily or involuntarily, universities must reinvent themselves and at the same time respond to the most serious problems of our day. Universities are being asked to do more precisely at a time when their resources are dramatically constricting. In such an environment, it is not possible simply to throw money at emerging problems. Rather, students and faculty must discard traditional notions of academic compartmentalization and resource availability and view themselves as members of teams capable of mobilizing on their own initiative and prepared to leverage resources beyond the walls of their own institutions.

This requirement that research universities do more with less convinces us that an entrepreneurial mindset is required for these great institutions to have the impact we know they can. An environment of rapid change, like the one we confront today, demands innovation, and entrepreneurial thinking increases the impact of innovative ideas. As research universities take on society’s biggest challenges, it is imperative that we expand the conversation be

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Engines of Innovation: The Entrepreneurial University in the Twenty-First Century
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Introduction 1
  • 1 - The Enterpreneurial Opportunity 9
  • 2 - Enterpreneurial Science 22
  • 3 - Enterprise Creation 38
  • 4 - Social Entrepreneurship 53
  • 5 - Multidisciplinary Centers 68
  • 6 - Leadership 85
  • 7 - Academic Roles 97
  • 8 - Culture and Structure 106
  • 9 - Teaching Entrepreneurship 118
  • 10 - Accountability 133
  • 11 - The New Donors and University Development 141
  • Conclusion 151
  • Notes 155
  • Acknowledgments 161
  • Index 163
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