Entrepreneurship Strategy - Ventures

UQ’s vision forentrepreneurshipA hub for innovators, leaders and entrepreneurial minds,who challenge and accelerate ideas to deliver economic,social, cultural, and environmental impact.The 2018-2022 EntrepreneurshipStrategy represents a cohesive set ofactions to support the aspirations ofthe UQ community.Entrepreneurship is about transformingthe way we think and act, to createvalue in the world, whether as anengaged employee, inspiring leader,research pioneer, driver of social changeor creator of the next ‘big thing’.This strategy recognises the diversestudents and staff already engagedin entrepreneurial activity across theUniversity. Importantly, it supports theUQ community to venture forward witha shared vision so that we can continueto identify valuable opportunities andto embed an entrepreneurial mindset ineverything we do.The objectives, imperatives, successmeasures and implementationguidelines outlined in this strategyare based on best practice in highereducation institutions, and the views ofthe wider UQ community. The messagewas clear: UQ students urgentlyrequire broader and more cohesiveentrepreneurial opportunities.Between June and October2018, UQ conducted a robustconsultation process to help informthe development of this strategy. Aconsultation paper was followed bycommunity forums at the St Lucia,6Herston and Gatton campuses.Roundtable focus groups capturedexternal stakeholder and alumnifeedback, while student-run focusgroups encouraged students to activelyparticipate in seeking and providingperspectives.All UQ community members were alsoencouraged to participate in an onlinesurvey. More than 840 people wereinvolved in this process, including morethan 560 students.The themes arising from theconsultation included: be aspirationaland take urgent action, developa shared understanding ofentrepreneurship, improve the visibilityof programs already available andcelebrate our role models. Practicalhands-on experiences are valued,and respondents indicated a strongdesire to be collaborative, involvingour alumni, and local and globalstakeholders.UQ values the comments and input ofthe hundreds of community memberswho supported this process, andwe will continue to collaborate asprograms and activities evolve.This is an ambitious, but important,agenda that will continue to evolve.We look forward to building on ourpartnerships as we implement newinitiatives across the University.Ventures in actionUQ School of Languages andCultures PhD student MichaelMersiades’ (pictured) startupcompany ‘Chatloop’ won theinaugural Shane Chidgzey YoungEntrepreneurs Award in 2018.Michael participated in the Germinateaccelerator program at ilab.According to Michael, “being ahumanities and social sciencesstudent doesn’t mean your optionsare limited to the jobs that yourfield pigeonholes you into. With abit of creative thinking, you can findinnovative ways to apply your skillsand make a living”.Chatloop connects people froma refugee background to trainedvolunteers through a messagingsystem for convenient languagepractice. Building a social enterprisewhile also completing a PhD inApplied Linguistics is no easy task,but support from ilab enabledMichael to realise his idea and seethe rapid growth of his company.

Discoveriesinspired by lifeNew medical technologies commercialisedthrough UniQuest are enabling researchers toventure forward in fundamental neuroscienceand in diseases such as ageing dementia,schizophrenia and motor neurone disease.Image source: QBI7

Nurturing asharing economyBased on a circular economy, Brisbane Tool Library isbuilding a more sustainable society, reducing consumptionand extending the life of a range of products that wouldotherwise end up in landfill.The social enterprise, located at the State Libraryof Queensland, allows members to borrow power tools,lawnmowers and even camping equipment.Brisbane Tool Library was founded by Sabrina Chakori – a UQalumnus (Master of Environmental Management, 2016) andcurrent PhD candidate. Sabrina received mentoring and 10,000in grant money as part of ilab’s 2018 Germinate program.8

Strategicobjectives1. Inspire a venturing spiritUQ comprises a community ofenterprising thinkers and leaders.To further inspire and connect ourentrepreneurs, we will promoteinclusive and engaging activities,and recognise and celebrate oursuccesses.Actions focus on increasing theparticipation in our programs by abroader range of our community. Forstudents, we will build on our existingresources to offer and encourageinvolvement from across facultiesand study levels. We will increase thenumber of activities that bring togethercross-disciplinary teams to identifynew opportunities and overcomechallenges.We will also celebrate our communityof entrepreneurs, by raising theirprofiles and showcasing differentpathways to success, for example,through startups, social enterprise,not-for-profits, business orgovernment.To inspire a venturing spirit we will:Recognise, reward and celebrate ourentrepreneurs:– sponsoring entrepreneurshipawards, and adding to existingawards structures to recognisethe achievements of our diversecommunity of entrepreneurs– showcasing UQ entrepreneurialsuccesses – through case studies,guest speaker engagements andparticipation in programs and events– establishing an annual signatureevent for UQ entrepreneurship.– raise the visibility of UQ as anentrepreneurial university bybuilding a cohesive narrative aboutUQ Ventures through coordinatedcommunication, marketing andevents.Champion and connect ourentrepreneurs across facultiesand institutes:– support established and pop-upevents that make the most ofvisiting entrepreneurs and emergingopportunities, while facilitatingnetworking across the Universityand community.– apply a diversity and inclusion lensto events, programs and activities toimprove accessibility.Foster a vibrant, high-energyenvironment:– provide central, highlyvisible, convenient spaces forentrepreneurs to meet, access UQentrepreneurship programs, learnand grow– increase access to design studiosand makerspace facilities for thedevelopment of prototypes andminimum viable products– explore potential for moreentrepreneurial enterprises togrow through access to short-termincubator spaces.Work together– partner with students and studentsocieties to deliver entrepreneurialactivities such as the annual UQWeekend of Startups and mentoringinitiatives– expand the role of the ChiefStudent Entrepreneur to championentrepreneurship on campus andexternally.“As a UQ Chief Student Entrepreneur, I canempower and support UQ students to pursuetheir own ideas and create an impact.”Ben Coughlin, 2018 Chief Student Entrepreneur9

2. Build an entrepreneurial mindsetEvery student will have theopportunity to experienceentrepreneurial learning atUQ, embedded across allprograms and faculties. Staffwill be supported through acomprehensive professionallearning program and recognisedfor entrepreneurial achievement.At the program level, UQ’s curriculumwill leverage the Higher EducationLearning Framework (HELF) principlesfor quality learning to developstudents’ entrepreneurial mindset,empowering them to be creative,adaptable, tolerant of ambiguity andrisk, and able to learn from failure.To build an entrepreneurial mindset,we will:– connect to global best practice incurriculum developmentDevelop the curriculum– allow and encourage students tolearn from productive failure.– offer a flagship entrepreneurshipcourse for credit that is available toall studentsBuild staff capacity– bring multidisciplinary teamstogether in courses that focus onreal-world challenges and problemsolving to develop entrepreneurialmindsets and skills– establish a flexible course forstudents to undertake startupinternships, intrapreneurship andplacement experiences with creditwhere possible– support updates and co-design ofcourses to include entrepreneurialskills, and improve how we describeour courses to make entrepreneuriallearning explicit– support subject-specificinterpretations of entrepreneuriallearning– recruit academic staff with aproven entrepreneurial track recordand providing staff rewards andincentives for entrepreneurship– implement a professional learningprogram for entrepreneurship,including developing a toolkit tosupport entrepreneurial educationin the curriculum– enable peer support throughan Entrepreneurship Communityof Practice– recognise and showcase thesuccesses of our entrepreneurialacademics through awards andcase studies– investigate opportunities fortailored programs to supportearly career researchers to buildentrepreneurial skills.3. Empower venture creatorsBuilding on the strength ofour existing initiatives, newand expanded activities willprovide increased coordinatedsupport from ideation through toapplication and scaling for impact.To empower venture creators, we will:Programs will reflect the aspirationsof our community, and be tailored toprovide the practical expertise andsupport for our entrepreneurs tochallenge convention and forge newpaths that provide benefits locallyand globally.– increase the program offeringthrough the Startup Academy andilab by developing targeted offeringsfor key verticals that reflect specificdiscipline area challengesStrengthen activities– expand the Idea Hub and StartupAcademy programs to support moreparticipants from across faculties,institutes and disciplines– develop activities that fosteran entrepreneurial mindset andbuild broad entrepreneurial skillsincluding creativity, innovation andproblem-solving- Recognise the importance ofentrepreneurial learning byawarding credit wherever possible.Provide resources and opportunities– ensure clear signposting fromcurriculum to extracurricular programsthat allow students to further theirentrepreneurial experience at differentstages of learning10– incorporate entrepreneurshipactivities in UQ’s micro-credentialingstrategy, to ensure recognitiontowards a student’s academic andprofessional development as muchas possible– investigate structured supportfor multiple pathways throughentrepreneurial learning, such asintrapreneurship internships, designstudios and policy labs– develop a comprehensive suiteof tools, resources and templatesincluding information on keymethods such as design thinkingand lean startup.Go further– investigate opportunities for UQ tobe a testbed and lead customer forUQ entrepreneurs– attract gifts and grants to establisha seed fund– continue to develop Universitysystems and policies to supportentrepreneurship.

4. Foster enterprising partnershipsCollaborative relationshipsprovide opportunities for ourpartners and UQ to benefit fromglobal perspectives, new marketsto create and test ideas, and solvechallenges.With a focus on mutually beneficialpartnerships, we can source expertadvice, provide testbeds for newproducts and services and accessdiverse funding streams.Our alumni networks offer inspiration,mentoring, and introductions to UQentrepreneurs, while engagement withthe not-for-profit sector brings newmeaning to all activities through socialenterprises.Through developing and nurturingtruly enterprising partnerships, UQentrepreneurs and partners will haveaccess to support systems, experts,mentors, multidisciplinary challengesand funding support to take ideas toimpact.To foster enterprising partnerships,we will:Engage globally– continue to work with internationalpartners to expand the range andlocations of international StartupAdventure programs– work with strategic partnersto expand the range ofentrepreneurship mobilityexperiences available to UQstudents.Partner with industry– partner with business to identifyindustry challenges that requireinnovative solutions from UQentrepreneurs to be developed andimplemented– implement a whole-of-Universitycompetition that encouragesmultidisciplinary collaborationsto solve challenges and developsolutions– expand industry internshipprograms so that students areable to gain firsthand experienceof the value of intrapreneurs andthe power of an entrepreneurialmindset.Expand reach– increase the opportunities for externalparticipants in UQ programs asmentors, guest speakers and judges– increase awareness within UQ ofevents and activities run by otherecosystem contributors– establish a new entrepreneur inresidence program that providesstudents and staff with access tomore diverse alumni and externalstakeholder expertise and experience– partner with local and internationaluniversities to offer entrepreneurshipcompetitions and training activities– provide policy input to governmentson the importance of universityentrepreneurship and actions tosupport student entrepreneurs.Engage schools– expand the reach of entrepreneuriallearning support provided tosecondary schools– provide entrepreneurial professionaldevelopment for teachers andstudent teachers– increase the number of on-campusmasterclasses, workshops andcompetitions for secondary students– continue to partner with ecosystemstakeholders on delivery ofsecondary school entrepreneuriallearning competitions.“Enrolling in an entrepreneurial courseallowed me to develop my critical thinking,communication, problem-solving, networkingand group skills. These skills will assist metremendously in a clinical environment, and I cansee myself reflecting on what I learnt during thiscourse in future years.”Rhiannon Simpson,Bachelor of Science (Animal and Veterinary Bioscience major)11

StrategyimperativesThe UQ Entrepreneurship Strategy is a holistic approach to creating a community ofentrepreneurial thinkers who deliver impact on a local, national and international scale.This strategy represents a cohesive set of actions to support the broad range of aspirations– from social enterprise, policy innovation and intrapreneurship in government or corporatesettings, to professional practice, freelancing or starting a business.Inspire aventuring spiritBuild anentrepreneurialmindsetEmpower venturecreatorsEnable trepreneurialskills appliedAdvancedentrepreneurshipSpace to meetSpace to makeSpace to growEvents, design labsMakerspacesIncubator, co-working spaceEntrepreneurship eventsCompetitions and awardsAnnual signature eventStudent-led activitiesChief student entrepreneurPromote and showcasealumni success storiesMultidisciplinary projectsin coursesCredit forplacementsFlagship coursedevelopmentTool-kit for curriculumCommunity of practiceand professional learningRecognise and celebrateexcellence in entrepreneurialeducationPrograms for early careerresearchersRecruit entrepreneurialacademicsStaff incentives forentrepreneurshipSupportive universitypoliciesUQ as a test bedSeed fundIdea HubBe inspired, build skills,test ideasStartup AcademyValidate the market andbuild a business modelilabGerminate acceleratorand IncubatorTools and resources forstudentsMicro-credentials foractivitiesPrograms targeting keysectorsGlobal speakersGlobal challengesGlobal mobility programsIndustry and communitymentorsLocal and global internshipsIndustry, government anduniversity acceleratorsSecondary school eventsSecondary schoolprograms, competitions andmasterclassesTeacher professionaldevelopment

Finding smartersolutionsUnderpinned by the digital economy, UQ ilabstartups support high growth and low capitalrequirements. Founders range from studentsand researchers through to established businessowners looking to scale globally. Amongthem, MOVUS, is exploring intelligent machinelearning. Through a compact data collectionand communications device, MOVUS providescost-effective remote condition monitoring andreporting across a wide variety of fixed rotatingindustrial equipment.13

Pushing pastresistanceBy creating the world’s first molecule bank,UQ scientists are working with industry andinstitutional partners on a venture with globalimpact: crowdsourcing antibiotic compoundsto seek out new solutions and to prevent theproliferation of drug-resistant superbugs.14

Measures of successA range of key performanceindicators will track progressagainst the objectives of thisstrategy. These will be fullydeveloped as the implementationplan is finalised.Measures will be established totrack movement against our currentbenchmarks, as new actions areimplemented and existing programsare escalated across the University.Measures will likely include:Long-termShort-term– numbers of founders andstartups established through UQentrepreneurship programs, andthe level of grants and investmentsthey secure– level of demand and number ofparticipants in entrepreneurshipevents and activities– number of students and staffengaging in formal learning inentrepreneurship– number and reach of national andinternational partners engaging inUQ entrepreneurship programs– impact of entrepreneurial activitieson game-changing graduates whomake outstanding contributionsand address complex issues with aglobal perspective, as outlined in theUniversity’s Strategic Plan 2018-2021– quantity and quality ofentrepreneurship researchoutputs, including collaborations,publications and impact.ImplementationThis strategy will be implementedprogressively and responsively tomeet the ongoing and changingneeds of students, staff andpartners. This will include triallingand assessing new initiativesregularly to continuously improveour approaches.An implementation plan will supportthis strategy, and clearly outline rolesand responsibilities in delivering theactions across the University, keymilestones and timeframes for delivery.A collaborative, whole of institutionapproach to implementation willbe essential, as our success willrely on shared responsibility forimplementation across the University.We will continue to be informed byour external partners and embedstructured feedback opportunitiesthroughout our activities. Additionally,the UQ Entrepreneurship ExpertAdvisory Panel will continue to provideinsights into the challenges andopportunities facing our entrepreneurs.As student voices are a priority,our programs and activities willinclude ongoing opportunities forfeedback from students, and studentrepresentatives will continue to beincluded in relevant advisory groups.By 2022, structural decline of certain types of jobs (10%decline) will be fully counter-balanced by job creation andthe emergence of new professions (11% growth).Future of Jobs Report, 2018, World Economic Forum15

GlossaryTermDescriptionAcceleratorA fixed-term program that offers a cohort of entrepreneurs mentoring, training,workshops, and funding to develop their business. The UQ ilab Germinate PLUSaccelerator program assists startups to turn into an investment-ready company with anearly-stage product, initial income and a team.CommercialisationThe process of taking an idea to market and creating value. UQ researchers are assistedby UniQuest, Australia’s leading commercialisation entity, to commercialise Universityintellectual property. JK Tech is the technology transfer company for the SustainableMinerals Institute.Community ofpracticeA group of people who regularly interact to discuss and share experiences to improvepractice in areas of shared interest. At UQ, the entrepreneurship community of practicewill bring together academic and professional staff who are interested in supporting aculture of entrepreneurial teaching and learning.EmployabilityEmployability is a set of achievements – skills, understandings and personal attributes –that make graduates more likely to attain lifelong employment success, have impact inorganisations, create enterprising opportunities for themselves and others, and effectpositive change throughout all stages of their careers to the benefit of themselves, theworkforce, the community, and the economy (adapted from Yorke, 2006).Enterprising skillsand activitiesAn enterprising student/graduate is capable of generating original ideas and makingthem happen in response to identified needs and opportunities. Skills and competenciesinclude: creative problem solving, design thinking, negotiation, communicating,influencing, and leadership. Activities related to entrepreneurship, such as starting a newbusiness or social enterprise, or applying enterprising skills in an organisational contextsuch as non-profit, corporate, or government.EntrepreneurialeducationAt UQ, entrepreneurial education will include a breadth of skills developmentand learning opportunities, from the development of enterprising skills and anentrepreneurial mindset to applying enterprising competencies in a business ororganisational context.EntrepreneurialmindsetA way of thinking that demonstrates behaviours

postgraduate entrepreneurship and innovation courses offered in various programs. There are a range of flexible delivery options, including the free online masterclasses, through to the UQx MicroMasters in Corporate Innovation and a Master of Entrepreneurship and Innovation. Formal entrepreneurial learning