Entrepreneurship and commercialisation of academic programs in higher education: an Australian university’s experiences

Progressively during the 1990s, both in Australia and in many countries throughout the world, Governments have reduced public funding to universities. This has resulted in universities seeking alternative sources of revenue and with the Government encouraging commercialisation of Higher Education – particularly the selling of degree programs. Today, universities have diversified their funding sources, which range from recruiting foreign students, local fee-paying students (mainly postgraduate course work in Australia), leasing university facilities, organising conferences to commercial research and consultancy activities for patrons and industries. This situation is also true for the Case Study University, which is located in a South Eastern Australian State. The University’s Graduate School offering management and entrepreneurship programs is almost entirely student-funded. Indeed, during the year 2000, the government only funded 5% of the School’s student load, with the balance (95%) being financed by local feepaying students and international fee-paying activities. This paper discusses the experience of commercialising this school and its entrepreneurial efforts, as well as the marketing of its degrees.