International Academic Journal of Entrepreneurship
Mutual Benefits from Entrepreneurship of Non-business University Graduates for Academia and Founders
Maximilian Lackner Department Economics, University Of Applied Sciences Technikum Wien, Austria, Austria
Published on: 2019-02-11
There is a trend among universities to teach entrepreneurship and support startup initiatives. In this article, the state-ofthe-art in entrepreneurship higher education and university ecosystems of non-business schools is reviewed, and the example of the University of Applied Sciences Technikum Wien, Austria, and one of its startup show cases, Toolsense, is elaborated to understand critical success factors for non-business graduates as founders. The mutual benefits for universities and founders are discussed. In the case of Toolsense and the University of Applied Sciences, narrow band IoT as brought to the University by the startup. Implications on a universities’ innovation and portfolio management are highlighted. Concerning startups, the importance of growth financing after initial success is elaborated.
An entrepreneur, according to Peter Drucker, is a person that searches for change, responds to it and exploits it as an opportunity . He or she perceives an opportunity and creates an organization to pursue it . In addition, an entrepreneur creates changes in existing situations through innovation. Schumpeter calls this phenomenon the creative destruction . The Academy of Management defines the domain entrepreneurship as (a) “the actors, actions, resources, environmental influences and outcomes associated with the emergence of entrepreneurial opportunities and/or new economic activities in multiple organizational contexts, and (b) the characteristics, actions, and challenges of owner-managers and their businesses” .