Over the past four decades, the role of higher education institutions (HEIs) in their surrounding ecosystems has changed. In connection with their teaching and research, HEIs collaborate with external stakeholders and support entrepreneurs, contributing to growth and well-being, especially in their own communities and networks. The interconnections between HEIs and their stakeholders may enhance the performance and resilience of all the parties involved. We assume that physical proximity plays an important role connecting actors and aligning agendas.1 For this reason, it is possible to describe these “spaces” as “entrepreneurial ecosystems” (or local ecosystems) and the HEIs as “entrepreneurial universities”.
Etzkowitz defines the entrepreneurial university as one that carries out activities beyond teaching and research, to fulfil its “third mission” (Etzkowitz, 2013[1]).2 Gibb, Haskins and Robertson (2013[2]) further argue that entrepreneurial universities are dedicated to “creating public value via a process of open engagement, mutual learning, discovery and exchange with all stakeholders in society – local, national and international”. Now oriented towards external stakeholders, entrepreneurial universities engage with their ecosystem, some universities having turned into drivers of economic development in their own regions.
These HEIs help to motivate individuals with an entrepreneurial mindset, by teaching entrepreneurship, providing incubation facilities, and co-specialising in their research activities. Stanford University in California or the Massachusetts Institute of Technology are two celebrated examples, attracting talent, training a new generation of entrepreneurs and liaising with local technological companies to produce pioneering research and technology (Jaffe, 1989[3]). However, they should not be taken to be absolute benchmarks. HEIs can be entrepreneurial in many ways, by promoting transdisciplinary teaching activities and collaborating and co-creating with stakeholders in their communities and networks.
To be successful, however, entrepreneurship HEIs must strike a balance between supporting their regional communities and generating internationally relevant research (and skills). The COVID-19 pandemic has demonstrated how entrepreneurial, collaborative universities can play a fundamental role in providing knowledge-based solutions and scientific and technological innovation in their respective ecosystems. For example, many HEIs have mobilised scientific and medical resources to address the health emergency, contributing to research but also to the production of medical equipment (e.g. respirators, masks, hand sanitisers). HEIs can continue this work and support their regions by offering teaching and research that reflect entrepreneurial and innovation opportunities. They should not, however, become regional development agencies, and it is important for them to generate activities that are internationally relevant, and to represent a gateway for the communities that host them. Ideally, place-responsive HEIs can achieve a sustainable equilibrium between curiosity-driven research and co-specialisation, managed by an entrepreneurial leadership and organisation that makes use of the fruits of research. (Atta-Owusu; Fitjar; Rodriguez-Pose, 2020[4]).