FACULTY ENTREPRENEURSHIP AND ECONOMIC-DEVELOPMENT - THE CASE OF THE UNIVERSITY-OF-CALGARY

The common perception of universities as merely institutions of higher learning is giving way to one where universities are viewed as engines of economic growth and development. This study documents the entrepreneurial activities of the faculty of the University of Calgary, as well as the impact the University has had and the impact its recent budgetary problems might have on such activities. Results indicate that nearly 100 new ventures with at least one full-time employee were started by faculty or were started as a consequence of significant faculty inputs. These ventures, in turn, have generated at least 723 new jobs in Alberta. Furthermore, our projections suggest that faculty entrepreneurs will create approximately 14 ventures per year in the near future. implications for the role universities and governments should play to encourage faculty entrepreneurship are discussed.