Abstract— This paper proposes a readiness model for transformation a second-generation university to an entrepreneurial organization based on influential factors and the consequences of entrepreneurial activities on local economic development. Six factors and indicators are identified and modeled based on the tutorial entrepreneurship literature. The restrictions of each factor are defined by the readiness framework and the consequences of entrepreneurial activities on local economic development are analyzed by using the proposed model. The proposed conceptual model aids policymakers in completing a much-needed assessment of the impact of organizational policies, practices, and structures on the entrepreneurial activities and transformation from second-generation universities to third-generation organizations. The proposed readiness model leads to the development of organizational interventions that facilitate successful entrepreneurial activities. The quantitative indicators of different university types are demonstrated in this study. The quantitative validation of the integrated framework suggests that university heads and policymakers can encourage and develop academic entrepreneurship by using a comprehensive systems approach for the identification, protection, and commercialization of university intellectual property.
Keywords— Entrepreneurial universities, readiness; local economic development model, quantitative indicators.
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