Academic entrepreneurship and entreprenerial development in Nigeria: myth or reality?

This paper examines the process of commercializing research output of University staff without violating the extant rules within the system as well as providing practical application of theories. The research also determines the extent to which University staff engages in entrepreneurial activities. A survey research design through convenient sampling technique was adopted for collection of primary data via closed-ended questionnaire administered to University staff across different disciplines in the selected Federal Universities in Nigeria (Obafemi Awolowo University, Ile-Ife; University of Ibadan; University of Lagos). Fifty Academics of senior lecturership status were purposively sampled in these three Universities. The data collected were analysed using descriptive and inferential statistics as appropriate to each of the research objectives. The formulated hypotheses were tested using correlation and regression analysis. It was observed from the results that, there exist a significant positive relationship between main academic responsibilities and entrepreneurial development in Nigeria. The study concluded that, encouraging proper assortment of academic and entrepreneurial activities will increase research driven production and service activities in the country, thereby stimulating more societal beneficial research and reducing unemployment in the long-run. The study therefore, recommends policy option for the encouragement of research output(s) commercialization which will ensure harmonious town and gown relationship, consequently, harnessing the full potentials of good research outputs from academics. In addition, there is need for more incubation centers across the Universities in Nigeria to stimulate nurturing and proper transition of research driven business ideas from the University to the industry.