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Abstract

Barth and Schlegelmilch (2013), explain that, in scientific theory, the term academic entrepreneurship is defined and developed in different ways. From the traditional perspective academic entrepreneurship means an “university spin-off” or an institutional transfer of research, development, or technology to start innovations or ventures. The purpose of this paper is to review and synthesize the literature on the various challenges and opportunities in Academic Entrepreneurship. Although education and research have traditionally been the university‘s main missions, this has gradually changed with the emergence of new perspectives on the role of the university in the system of intellectual property generation, production, sharing and distribution (Nyeko & Sing, 2015). Silva (2012) argues that 3rd university mission involving academic entrepreneurship, opens the possibility for many higher education institutions to get a broader source of funding from non-governmental or public organizations. The adaption and adoption of ―entrepreneurial flair into the university appears to create discontent among academics to whom the concept of entrepreneurship implies the creation of a new venture and income generation. This paper highlights the features of academic entrepreneur and academic entrepreneurship while the center of focus being the challenges and opportunities faced in academic entrepreneurship.