Context:

There is a definite need to create instruments and pathways that foster research and lead to a commercialisation of research output, so that the university system can capitalize the intellectual value of a new product or processes.

A New Phase- the Entrepreneurial University:

• The joint enterprise of academia and industry, for creating innovations is now entering a new phase, which brings us to the entrepreneurial university.
• It is to ensure a fine balance between education and enterprise, where learners pay an optimal price of attaining knowledge, gaining employable skills, or pursuing serious research.

What is the Need?

• Lack of Creativity: In the Indian context, universities don’t promote creativity, innovation and inventiveness, while they do excel when it comes to academic rigor. 
• Absence of Conducive Ambience: In absence of conducive ambience to follow a dream of having a venture of their home, many bright students coming out of IITs and IIMs like institutions end up working for MNCs for plush paying jobs. 

Professor of Practice(PoP)- A Right Pointer Towards an Entrepreneurial University:

• In India, the University Grants Commission (UGC)’s move clearly shows how universities are best positioned to foster innovation, simply because of the flow of new sets of bright minds every year, seeking to push the frontiers of knowledge further.

What is PoP & How is it different?

• PoP: It is typically an individual with significant experience in their industry, appointed to a faculty position at a university to share his/her practical knowledge and skills with students. 
• Unlike Traditional Academic Professors: PoPs are often hired from outside academia, and may not be required to have a PhD or other advanced research degree. 
• Bring Real-World Insights and Perspectives: Based on their expertise and experience in a specific profession or industry, they are expected to bring real-world insights and perspectives to the classroom. PoPs can be found in fields that include business, engineering, law, journalism, and the arts.
• Objective: To enhance the quality of higher education by bringing practitioners, policymakers, skilled professionals, etc. into the higher education system.
• Advantages: 
  • This will help take real world practices and experiences into classrooms and also augment faculty resources in higher education institutions. In turn, industry and society will benefit from trained graduates who are equipped with the relevant skills.
  • It will also help in unemployment reduction.
• Expectations: 
  • One day, PoPs will lead to a new generation of ‘entrepreneurs in residence’, showing the way for bright students to create the next Google on campus.
• Roles They can Perform:
  • Mentor & Ambassador: They can serve as mentors for student projects & can serve as ambassadors for their universities.
  • Industrial Associated Courses Development: Develop new courses that are more aligned to industry trends.
  • Collaborator: They can collaborate with other faculty on research projects and point to ways of converting patents into commercial products (which they do regularly in the industry).
  • Internship & Job Opportunities Provider: Building relationships with industry partners and helping to connect students with internship and job opportunities. 
  • Updated Practicers: They can also participate in professional organizations and conferences to stay up-to-date on industry trends and best practices. 
  • Reshaper: PoPs can reshape a university’s commercial thinking and energize the actions that add vividity to a university’s culture. 

Steps Taken in this Direction:

• The ‘herSTART’ initiative: An initiative of the Gujarat University Startup and Entrepreneurship Council (GUSEC) aimed at supporting women-led startups.
• The Delhi Skill and Entrepreneurship University: It emphasizes partnerships with industries and relevant skilling.
• Atal Innovation Centres: The government of India launched the Atal Innovation Centres, which provide managed workspace for startups to operate. 
• Incubation centers (ICs): ICs at educational institutions seek to nurture technology and knowledge-based ventures through their start-up phase by providing the necessary support to help entrepreneurs survive in the competitive market and reach a stage where they can scale-up their ventures further. 
• Global Initiative for Academic Network (GIAN): It seeks to tap the talent pool of scientists and entrepreneurs from abroad, including those of Indian origin to augment the country’s existing academic resources. 
• Various schemes implemented by the Ministry of Education for promotion of the research ecosystem of the country’s higher education institutes:
  • Uchchatar Avishkar Yojana (UAY)
  • Impacting Research Innovation and Technology (IMPRINT)
  • Impactful Policy Research in Social Science (IMPRESS)
  • Scheme for Trans-Disciplinary Research for India’s Developing Economy (STRIDE)
  • Scheme for promotion of Research and Academic Collaboration (SPARC)
  • National Initiative for Design Innovation (NIDI)
  • Scheme for Transformational and Advanced Research in Sciences (STARS) 

Way Forward:

• Need to Focus on Innovation: Innovation with teaching and research are the three foundational pillars in universities in today’s post-knowledge societies. 
  • With these innovations, university-based start-ups would not only incubate ideas but also convert ideas into patents and transform patents into commercial products. 
• Statutory Backing: Need to come up with new required laws and regulations.
• Strict Implementation: Need to implement the laws in a strict manner.
• Collaboration: Need to collaborate with other countries for achieving better results.

News Source: The Hindu