The Innovative and Entrepreneurial University

Report: University Innovation and Entrepreneurship Critical

The US Department of Commerce released “The Innovative and Entrepreneurial University” report in October 2013 about the trends of entrepreneurship in universities, recognizing the many benefits that university programs, such as Lassonde Entrepreneur Institute, provide.

“As other nations increasingly compete with the United States for leadership in innovation, America’s colleges and universities are doing their part to maintain our leadership and to nurture more innovation, create processes and programs to commercialize that innovation, and promote entrepreneurship as a viable career path for students,” states the report.

As more students are aiming to create the next Facebook or Twitter, universities across the nation are creating programs that encourage innovation. At least 450 colleges and universities in the nation have entrepreneurship programs. The report recognizes that universities are a significant source of ideas and research and development for startups. Entrepreneurship programs not only benefit students, but faculty, alumni and local businesses as well.

The report recognized three pillars that enable innovation and entrepreneurship to flourish: developing innovation ecosystems, creating an entrepreneurial culture, and providing financing. Many universities foster this ecosystem by creating experiential learning programs, competitions, and entrepreneurial and innovation centers.

The Lassonde Entrepreneur Institute has played a part in this movement of entrepreneurship. Since its founding in 2001, the Lassonde Entrepreneur Institute provides a wide range of programs to engage students interested in entrepreneurship such as those defined by the report. In the future, the Lassonde Entrepreneur Institute plans to continue fostering and growing the Utah entrepreneurship community.

Read full report here

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