Transforming green innovation into entrepreneurship for a sustainable future: barriers, motivators and the impact of university support systems

Abstract

Abstract Drawing on growing concerns about green entrepreneurship and universities’ third mission to address sustainability-related issues, this study examines the barriers and motivators perceived by university students in transforming green innovation ideas into entrepreneurial practices, as well as the impact of university support systems on the transformation. The descriptive research findings from a sample of 263 students from Finland, Albania, and Kosovo reveal that, despite having more educational and economic advantages with increasing efforts made, entrepreneurship-minded Finnish students still face a lack of knowledge, skills, and funding access at a high level, similar to those of the other two countries with less advantaged backgrounds. Besides, personal interest in environmental sustainability, as well as financial benefits and career opportunities, are perceived across the countries as key motivators in fostering intentions. Moreover, the study points out that the support mechanisms that students need most in the transformation, regardless of their backgrounds, are financing, courses, and mentorship focused on green innovation and entrepreneurship. The study makes a novel contribution by connecting universities’ third mission with green innovation and entrepreneurship through university support systems. This insight, therefore, provides universities, in collaboration with other stakeholders, with a valuable overview to develop support strategies that better prepare entrepreneurship-minded students for green entrepreneurial implementation and contribute to sustainable regional development.