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|  |  |\n| --- | --- | --- | --- | --- | --- |\n|  |  |  |  | |  |\n|  |  |  |  |  |  |\n\nSPRING 2020  \nThe Resourceful Academic-Entrepreneur: How to Build Entrepreneurial Potential with Limited Budget  \nALIZABETH M. SÁNCHEZ-LÓPEZ  \nAND  \nSANDRA PEDRAZA Universidad Ana G. Mendez Gurabo Campus  \nGurabo, PR  \nABSTRACT  \nUniversities have always been acknowledged as important drivers of economic development. Traditionally Institutions of Higher Education (IHEs) contributed indirectly by disseminating knowledge and providing educated personnel to industries. A shift in the primary missions of universities encourages universities to take a more active role in economic development. Creating entrepreneurial capacity through Innovation and Entrepreneurship (I&E) education, and the commercialization of knowledge generated by IHEs is one of the new proposed roles. Although universities recognize the value of I&E, many are working under conditions of financial distress. The article attempts to answer the following question: how to stimulate innovation and entrepreneurship when resources are scarce? The paper uses as evidence the initiatives adopted by a Pathways to Innovation Team. The strategic objective of the team was to develop I&E mindsets by (1) increasing I&E awareness,(2) creating spaces for interdisciplinary interaction and (3) fostering collaboration between faculty and students across disciplines. The article highlights: (1) the theoretical foundations to build entrepreneurial potential (I&E mindsets) in IHEs,(2) how the Pathways to Innovation Program provided the foundations to draw a map by examining the existing infrastructure,(3) the initiatives placed to stimulate entrepreneurial potential,(4) the assessment strategies to evaluate the initiatives,(5) and strategies to overcome key challenges and move forward.  \nKey words: Innovation & Entrepreneurial Mindset, Entrepreneurial Potential, Entrepreneurial Ecosystem, Entrepreneurial Universities  \nINTRODUCTION  \nUniversities play a crucial role at stimulating innovation and entrepreneurship (I&E) . Kapetaniou and Lee (2016) put forth the idea of the university’s “third mission”, which extends its research  \nSPRING 2020 1  \nADVANCES IN ENGINEERING EDUCATION  \nThe Resourceful Academic-Entrepreneur:  \nHow to Build Entrepreneurial Potential with Limited Budget  \nand education role. Although the specific definition of the “third mission” varies, it relates to direct contributions to economic growth and social progress (Sánchez-López et. al. 2017) .  \nIn their seminal work, Shane & Venkataraman (2000) defined entrepreneurship as the process of opportunity discovery and exploitation. In universities, the outcomes of this process are measured by the number of commercialized projects including new products, university consultancy services, licensing agreements, spin-offs and start-ups (AUTM 2010–2014) . Nonetheless, these do not emerge in a vacuum. Entrepreneurial universities assemble, combine and configure resources (Sánchez-López 2013) . These constitute the I&E infrastructure, which includes physical spaces (i.e. laboratories, equipment, etc. ); financial resources (i.e. industry-government funding; institutional budgets); and commercial resources to drive products to market (i.e. TTOs, accelerators, etc. ) . The ultimate role of university infrastructure is to translate discoveries into entrepreneurial outcomes (Shane & Stuart 2002, Mueller 2007) .  \nDespite the importance of infrastructure in generating the outcomes, there’s still something missing. If ‘Entrepreneurship requires action’(McMullen and Shepherd 2006), then people are key in the equation. Not only do people discover opportunities, they also decide to exploit these (Shane & Venkataraman 2000) . But, how do we create ‘entrepreneurial people’ or what Timmons (1994) called‘opportunity obsessed’? The simple answer to the complex question is by stimulating I&E mindsets. Using the ini","cbCaioQmxokugjmX","https://ap.wps.com/l/cbCaioQmxokugjmX","pdf",653408,17,"English","# Abstract\n# Introduction\n# Entrepreneurial Potential: Theoretical Considerations","[{\"question\":\"What question does the article attempt to answer?\",\"answer\":\"It asks how to stimulate innovation and entrepreneurship when resources are scarce.\"},{\"question\":\"How did the Pathways to Innovation Team build entrepreneurial potential?\",\"answer\":\"By increasing I\\u0026E awareness, creating spaces for interdisciplinary interaction, and fostering collaboration between faculty and students across disciplines.\"},{\"question\":\"What theoretical factors are discussed for entrepreneurial potential?\",\"answer\":\"The article explains that entrepreneurial potential relates to perceptions of desirability and feasibility (including self-efficacy), and to characteristics linked with entrepreneurship such as risk propensity and problem solving.\"}]","The Resourceful Academic-Entrepreneur - How to Build Entrepreneurial Potential with Limited Budget | PDF",1792066044,43]