Bridging the Skillset Gaps in University-Based Incubators

Entrepreneurship is a driving force in today's rapidly evolving economy, offering avenues for innovation, economic growth, and societal impact. However, engineering entrepreneurial teams often encounter skill gaps that can impede their ability to navigate the complexities of starting and growing a business effectively. Addressing these skillset gaps is crucial for empowering the next generation of entrepreneurs to thrive in an increasingly competitive landscape. University-based incubators (UBIs) play a significant role in this endeavor, providing a supportive ecosystem for entrepreneurial development within academic institutions. This paper aims to explore the skillset gaps in UBIs affiliated with engineering departments, through a systemic literature review on this topic, complemented by a series of one-to-one interviews with directors, mentors, and investors at various UBIs. The results of this study align with existing literature and highlight a recurring theme regarding the difficulties faced by engineering entrepreneurial teams in areas such as soft skills, as well as challenges related to financial literacy, research proficiency, and sales capabilities. This work aims to delve into specific areas in greater depth and discusses potential pedagogical approaches that could enhance the learnings of these skills with no direct relation to concepts of entrepreneurship.