Higher education, and higher education institutions more generally, play a pivotal role, in their local communities and the wider ecosystem in supporting and driving regional, social and community development as well as addressing societal challenges. While promoting entrepreneurship and innovation in higher education includes both entrepreneurial mindset development and support for new venture creation, only a minority of students are likely to establish a start-up and run their own business during their studies or directly after graduation. The majority of employers and firms – of all shapes and sizes and in a diversity of sectors – however, seek to enhance their innovative capacity and become (more) entrepreneurial. These employers are looking for enterprising and innovative individuals to enhance their innovation and growth. Therefore, entrepreneurship has relevance across all aspects of higher education, and HEIs should provide their students and graduates with the capacity to think and behave entrepreneurially within all kinds of environments.

HEIs are also a force for social transformation. They are often one of the major employers in a locality and their existence will impact on the local economy and social wellbeing.  The objective of a higher education institution in research, teaching, industrial and community collaboration is the improvement of society and the quality of life.[1] The entrepreneurial HEI plays a key role in its entrepreneurial ecosystem, and it should lead the development and implementation of local, regional and/or national innovation and entrepreneurship strategies and their implementation.

[1] See Michael Crow’s report for the Kauffman Foundation ‘Building an Entrepreneurial University.