Technology-Based Entrepreneurship Education: Meeting Educational and Business Objectives:

The UK government's ‘Third Mission’ for Higher Education (2000) encourages universities to teach entrepreneurship to ‘STEM’ students (those studying science, technology, engineering and mathematics), in part to support the technology transfer agenda. Technology-based entrepreneurship education (TEE) incorporates the key elements of entrepreneurship education (EE), concentrating on the creation of economic value from technological change. In this paper, the key challenges associated with EE and TEE are outlined, and the authors propose that the way to meet these challenges is through a systematic process that takes a technology from an initial idea in the laboratory to full commercialization as a high-growth firm. The ‘Technology Entrepreneurship and Commercialization Algorithm’ developed at North Carolina State University (NCSU) offers such a framework for multidisciplinary teams. The paper describes why and how the Algorithm was adapted for use at Loughborough University (LU). The focus is on the educati...