Development of the Entrepreneurial University – A Solution to Promote University and Business Cooperation

Abstract

The cooperation between universities and businesses can bring many benefits for each party as well as for the socio-economic development in general. This relationship is motivated by the needs, capacities, conditions of each entity, and the level of institution constructivism. In Vietnam, although there have been policies of encouragement, the engagement between universities and businesses is still at a limited level due to different reasons. Along with the transition of higher education in the world from first generation universities to third generation universities, with the nature of an open academic environment, with multidimensional and multi-form cooperative exchanges, the model of entrepreneuprial university, or innovation-oriented university, has become popular. This research focuses on identifying the nature and characteristics of the entrepreneuprial university and proposing the development of an entrepreneuprial university model as a solution to promote cooperation between universities and businesses. The research shows that on the one side, an entrepreneuprial university has a need to be more business-oriented in itself to narrow the basin of challenges that exists between the two stakeholders. On the other side, the entrepreneuprial university model brings more trust to business and minimizes investment risks, thus creating more attraction for business to cooperate with universities.