Abstract:

Universities have been identified as knowledge creation centres, where knowledge can be created and transferred for social and economic benefits and advancement. What makes them relevant now is that we are in the knowledge era where knowledge has become the currency for facilitating sustainable development; hence, the role of Universities, as knowledge creation centres, has become more relevant. This relevance is reflected in their potentials to generate ideas and knowledge that can become products and companies when harnessed. The gap however has been that a lot of the knowledge created by Universities have not gone beyond the idea or prototype stage. This study, thus, proposes a framework to harness knowledge created in Universities to take them from the concept stage to the product stage to the startup stage, hence, making Universities factories for startup companies. This is essential for harnessing the commercial value of knowledge. This study therefore presents a structure on how Nigerian Universities can become factories for shipping startup companies that create value, opportunities and wealth.