Building Thriving Innovative Entrepreneurial Ecosystems in Higher Education Institutions (HEIs)

Abstract

Higher education institutions (HEIs) must adapt to the demands of the digital revolution and play a bigger part in the ecosystems and economics of innovation. HEIs and policymakers now need to reconsider how they should be creating entrepreneurial innovation systems to support a robust global economy and a better world. The objective of this article is to describe the socio-institutional and techno-economic innovation components of innovation systems. The development of a theoretical framework for constructing a healthy innovation ecosystem at HEIs will be guided by an analysis of the already available literature and practical responses to the issues. The methodology followed a systematic review approach that considered articles found within the google scholar website. According to the research cited in this article, HEIs must comprehend how innovation systems affect their innovation to conduct research, innovate, and commercialise. The ramifications of this research emphasise how crucial it is to forge connections between academic universities and commercial enterprises as part of formulating a roadmap for developing robust support systems for research, innovation, and commercialization.