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The rapid rate of technological change, shorter product life cycles and more intense global competition has radically transformed the current competitive position of many regional economies. With the drive to generate knowledge-based employment opportunities, policy makers are now placing a greater emphasis on the role of universities in the commercialization of scientific and technological knowledge produced within research laboratories. This increased emphasis on technology transfer from universities to industry and the need to develop more ‘rapid’linkages between science, technology and utilization (Allen, 1977, 1997) has led to the emergence of a number of entrepreneurial initiatives within academic institutions.

The term ‘entrepreneurial university’was coined by Etzkowitz (1998) to describe instances in which universities have proved themselves critical to regional economic development. Although some …