Profeneurship to Boost S&T Economics

Profeneurship is the process in which professors act as profeneurs to commercialize their academic works like an entrepreneur. The profeneurs involve themselves in the activities beyond teaching and research to generate some socioeconomic impact. The profeneurs bring efficiency in converting science into humanly useful products and services when they are made part of economic benefits generated from the science commercialization.

The Isolated Science World

From the inception of organized academic science world around 1500 till mid 1800, the science was considered as phenomenon of isolation. The scientists created the science and published it. The practitioners picked the science, tried it again and developed technologies for human use.

Professor William Rodger found this as very inefficient system doing lot of time and resources wastage. He founded MIT and asked professors to commercialize their academic skills and strengths. This wad the birth of profeneurship when faculty started consultancy and selling patents. The profeneurs shifted from linear to direct and non-linear model of academic commercialization saving lot time and resource waste.

The Connected Science World- Profeneurship

The profeneurship developed a more connected, integrated, consulted and efficient science world. The profeneurs are found more capable of commercializing their research works through creating own ventures, transferring technologies or any other mode of commercialization. The profeneurs produced more social and economic impact from state or industry funded research grants. The profeneurs trained better graduates by sharing practical insight and involving students in real life projects.

We have seen a total new world of technologies and unicorns reshaping the human life. This is mostly the result of profeneurship in the leading universities of the world.

Driving Profeneurship in Academia

The current systems of research grants, faculty hiring, faculty promotion, academic incentives and general business rules of universities favor only teaching, publications and administration. The academic business rules do not inspire faculty to become profeneurs and get involved in profeneurship. There is strong old-fashioned concept in academia as professor needs to create knowledge only and publish and not supposed to commercialize. This concept has to be changed and professor needs to be allowed to gain commercial benefits of academic research. The professor who creates the ideas is the best person to convert ideas into useful products in collaboration with commercial partners and stakeholders.

The Conclusion

The new business rules in academia are needed to inspire faculty to move from isolation science to profeneurship. The profeneurs can solve numerous problems of society and industry if trained and incentivized for profeneurship. The profeneurs can produce higher impact and returns on S&T funding.

The article is part of Entrepreneurial Study Project by IRP and being written for Heice, THA

By: Rahmat Ullah, Chief Coordinator, Institute of Research Promotion- IRP. [email protected]