Technology Business Incubation In A Philippine State University: Lesson Learned From South Australia Based Leading Technology Business Incubator

Transforming intellectual property into commercially-valued goods is a universal problem for universities. The Visayas State University (VSU) in Baybay City Leyte, Philippines is no exception. The capacities of VSU through its newly established Agriculture & Food Technology Business Incubator (AFTBI) and its partners are face by constrained such as but not limited to the lack of experience, financial & human resource This paper aimed to provide useful information for sustainability of the VSU-AFTBI by looking at the success of the Southeast Asia's leading technology business incubator – The New Venture Institute (NVI) of Flinders University. It is argued that the Flinders University model carries important strategy lessons for strengthening VSU's AFTBI. The study reveals useful strategy that the NVI utilized, specifically the quadruple helix model that links academics, government, industry managers and citizens. The Service Design Model is suggested for VSU-AFTBI in its approach to the quadruple helix mode and the following recommendations are proposed: an immediate assessment needs to be made of the VSU's resources and capacity such as intellectual property valuation, technological readiness level, human capital resources and institutional capacity; a separate assessment of the business and community needs; participants and alumni need to be deeply engaged; student entrepreneurs need to be involved; and strengthened communication to improve brand and visibility. Although VSU's AFTBI and NVI have different specializations and locations, the tenets are presented here in general form and can be expected to work in the context of Philippine's VSU-AFTBI.