Functions of a successful entrepreneurial ecosystem: A case study of a New Zealand university

Abstract

KEY QUESTION If entrepreneurial education provides students with fundamental skills such as creativity, innovation, and action orientation, why have many universities not adopted entrepreneurial education within its lectures yet?

RESEARCH QUESTIONS RQ1: What are the benefits of entrepreneurial education to students? RQ2: What are the impacts of the entrepreneurial ecosystem on the broader socio-cultural, economic landscape? RQ3: What measures can be implemented that would help develop a framework that can be applied to tertiary education in New Zealand in order to create an entrepreneurship ecosystem?

Universities in emerging economies are being driven to innovate and become more entrepreneurial in order to deal with the problems posed by globalisation. Therefore, entrepreneurial education is simply essential as real-world skills that will enable students to live remarkable lives in an ever-changing world. Given their importance, it is indeed critical that researchers address the key question: “If entrepreneurial education provides students with fundamental skills such as creativity, innovation, and action orientation, why have many universities not adopted entrepreneurial education within its lectures yet?”

This research presents a case study of an entrepreneurship ecosystem within a New Zealand tertiary institution. The study focuses on the benefits of entrepreneurial education for students and the ramifications for the wider socio-cultural and economic landscape. Data was collected through in-depth interviews with six participants involved with the ecosystem.

This study identifies the relevance of entrepreneurial education, making students more confident, more creative, opportunity-oriented, proactive, and innovative, adhering to a broad definition of entrepreneurship applicable to all walks of life. Furthermore, it assists people in acquiring the skills, knowledge, and attitudes required to achieve the objectives they set for themselves. Consequently, it causes a positive impact in the local region in various ways.

This study aims to encourage practitioners and policymakers in educational institutions in New Zealand to adhere to entrepreneurship programmes in order to create an entrepreneurship ecosystem in the region. In this sense, a framework was developed with measures to be implemented within the tertiary institution.