Universities and research centers have an important contribution to the economy in terms of education and its related activities but even more in terms of research and development. Entrepreneurial spinoffs coming out of these institutions represent a deep transformation of the economy. These companies produce state of the art technologies that are exported to international markets. At the same time, these companies employ professionals with advanced degrees and higher skills, paying higher salaries. They strategize for future expansion and invest more of their revenues on research and development. In sum, these companies produce higher yields, and exert a significant impact in social transformation, while having a relatively lower impact on polluting the local environment.
Entrepreneurship flourishes better under certain circumstances that make the environment more attractive for entrepreneurs. To improve these conditions, institutions and governments promote and run programs to make entrepreneurship accessible and more attractive to students. Institutions like the Massachusetts Institute of Technology and Stanford University are well known technology entrepreneurship centers, also countries such as Israel and Finland are at the vanguard of entrepreneurship. Although ecosystems cannot be transplanted, good lessons and insights can be extracted and adapted to enhance the local entrepreneurial ecosystem. This talk focuses on three topics: 1) What makes certain environments good for entrepreneurship? 2) What programs or initiatives can enrich the entrepreneurial ecosystem? and 3) How can these facilitation process be put in place?