Building An Entrepreneurial Economy: Evidence From Developing Countries

Abstract

Entrepreneurship contributes to economic development in all countries all over the world and has always been a powerful driving force of innovation, productivity, job creation and economic growth. In recent years, the Kingdom of Saudi Arabia has launched a broad range of intensive and creative initiatives to kick-start entrepreneurship, to further promote a business climate that supports innovation and competitiveness, and to inspire the next generation of company builders. Prior studies have not given much attention to the entrepreneurial role that universities play in building entrepreneurial economies, especially in the Arab World.

This paper attempts to address the research gap relating to the process by which universities can foster a culture of entrepreneurship in the Kingdom of Saudi Arabia. One major challenge is to develop contents and methods that encourage entrepreneurial learning. The paper confirms that entrepreneurship education can help promote an entrepreneurial and innovate culture by changing mindsets and providing the necessary skills. In this way, universities have become increasingly important for national and global economic development.