Scientific Collection «InterConf», (39): with the Proceedings of the 8th International Scientific and Practical Conference «Science and Practice: Implementation to Modern Society» (December 26-28, 2020) at Manchester, Great Britain

Musaev Azer Rajdin oglu 
Dissertation Candidate of ASUE, 
dissertator of the Department of “International Economics (English division)” 
Azerbaijan State Economic University (ASUE), Republic of Azerbaijan 
 
"UNIVERSITY OF ENTREPRENEURSHIP" OR THE
EDUCATION-SCIENCE-BUSINESS TRIANGLE 
 
Abstract. The article is devoted to the formation and development of the “University 
of Entrepreneurship” in Azerbaijan. The article deals with the prospects of creating 
the triangle education-science-business and the creation of a model “University of 
Entrepreneurship” in Azerbaijan, issues such as training of qualified personnel, use of 
effective models, investment climate role in the knowledge economy, transformation 
process of innovative thinking into business have been explored and relevant proposals 
have been made. 
Keywords: model “university of entrepreneurship”, triangle education-science-
business, training of qualified personnel, knowledge economy, technopark, innovative 
thinking. 
The entrepreneurial university model, which is considered as the most important 
model in the development of an innovation system, is becoming more and more 
relevant. In this regard, more and more attention has been paid to the development of 
new business models in higher education in recent years. So, the main goal of the 
“University of Entrepreneurship” is to positively influence the economic development 
of the country and the creation of an innovative ecosystem, as well as increase financial 
opportunities and thus, achieve the commercialization of science by transforming 
innovations and patents obtained at the university into a business unit [1, from. 77-84]. 
35% of scientists engaged in research are doctors of philosophy, 8% are doctors 
of sciences. Over the past 5 years, more than 9 thousand teachers working at the 

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 SCIENCE AND PRACTICE: IMPLEMENTATION TO MODERN SOCIETY
185 
universities of the Ministry of Education have filed 216 applications for patents for 
inventions, and the number of patented inventions is 159. Thus, 98 of them were in 
Azerbaijan and 66 outside the country [2]. In the development strategy of our country, 
an innovative economy is being built in all directions, and for this reason, special 
attention is paid to the formation of entrepreneurial universities in our country. 
It should be noted that the “entrepreneurial university”, which is valued as a 
higher education institution that develops and supports entrepreneurial skills among 
students and teachers, as well as trains highly qualified personnel, works closely with 
industrial enterprises and other organizations. It is possible to achieve the development 
of science, the creation of high technologies, the formation of an innovation ecosystem 
and, most importantly, an increase in socio-economic well-being as a result of 
cooperation between universities and business and government agencies. The 
university model of entrepreneurship, combining collaboration and playing a critical 
role in the formation and development of an innovation ecosystem, has become even 
more relevant. 
What needs to be done to build an education-science-business triangle and create 
an “entrepreneurial university” model?