Rewards, incentives and recognition in career progression are given to staff who actively support the entrepreneurial and innovative agenda of the HEI
Encouraging and rewarding entrepreneurial behaviour in all staff reinforces the commitment to developing as an entrepreneurial and innovative HEI. There are many ways to provide incentives and rewards for staff, who actively support the higher education institution in advancing its entrepreneurial and innovative agenda. Incentives and rewards, including recognition and career progression, alternative career pathways should be available at an individual level as well as for faculties/departments. Each HEI needs to identify those that suit their organisation and people best. Examples include:
- Development sabbaticals e.g., start-up sabbatical semesters for professors
- Rewards beyond research
- Mechanisms to share risk related to entrepreneurial activities
- Additional monetary resources e.g., budget, personnel, use of HEI’s infrastructure (office and laboratory spaces) at no or reduced costs
- Publication and teaching success criteria
- Reduction of teaching hours
- Part-time options for staff starting and running businesses
- Study visits to successful ventures, regions and organisations
- Awards, for example for "student ambassador of the year", the "most entrepreneurial professor", and the "most enterprising administrative staff"