Entrepreneurial University – Connection Between Growing Companies, Entrepreneurial Capacity And Economic Growth

The objective of this paper is to point to the possibility of using the entrepreneurial potential in Croatia which was discovered in GEM (Global Entrepreneurship Monitor) project. The potential is visible in high entrepreneurial activity of Croatian employees and the growing ratio of residents with entrepreneurial intentions. The method used is a qualitative research method – analyses of secondary data and overview and critical review of recent theoretical discussions. Today's knowledge-based society has innovation as a stronghold. The knowledge becomes tangible, useful, and marketable with the help of entrepreneurial activity. Entrepreneurial activity is an effective channel of realization and commercialization of knowledge-based innovation. One third of economic growth is a consequence of entrepreneurial activity. The growth of entrepreneurial activity generates new employment and prosperity of the country. Therefore, growing companies are most effective connection between entrepreneurial capacity and economic growth of each national economy. Results of international studies point out a tiny share of the growing companies in Croatia (less than 3%) as one of the major problems of entrepreneurship that is hindering economic growth of the country. However, the results of an international research project on entrepreneurship Global Entrepreneurship Monitor show high entrepreneurial activity among Croatian employees and a growing share of the population with entrepreneurial intentions. In order for present entrepreneurial ideas to come to life and take clear shape in a socially acceptable, useful and marketable innovation, a synthesis of science and industry complemented with entrepreneurial knowledge is necessary which can find support within the structures of the entrepreneurial university. The aim of this study is to point to the importance and possibilities of exploiting the synergy of different social formations and elements of the concept of entrepreneurial university in order to concretize the observed entrepreneurial capacity through conscious and aimed synergy and to contribute to the necessary increase in share of growing enterprises and spur economic growth.