Abstract:

Purpose:
The purpose of this paper is to point out the differences between the universities and the industry in respect of orientation and system of values, in view of evaluating and measuring innovation. It is necessary to which steer academic- university and industrial research: university research-based innovations are evaluated and measured relying on criteria like: (1) advancement of knowledge, (2) raising funds for new research works, and (3) advanced or profound understanding of the process , while contrary to that the prevailing values in the evaluation and measuring of commercial innovations more refer to the success on the market and less to originality and novelty. In a Quadruple Helix (QH) understanding, the sustainable development of a knowledge economy requires a coevolution with the knowledge society.

Findings:
Autonomy has most frequently been considered within researches in the field of higher education institution management. Total institutional autonomy is increasing.

Methodology/Approach:
The University should offer a method for the critical review of reality, as a vision of development. Professional training, education and the innovation of knowledge is provided by universities. The Quadruple Helix already encourages the perspective of the knowledge society, and of knowledge democracy for knowledge production and innovation. A proposal of a general definition of the QH innovation model is given: it is an innovation cooperation model or an innovation environment in which users, firms, universities and public authorities cooperate in order to produce innovations. These innovations can be anything considered useful for partners in innovation cooperation. This study demonstrates that there are different possibilities for Universities to support and assist QH actors in meeting these challenges and in implementing QH innovation models.

Research limitations/implications:
Great challenges for the existing function of the University created new business conditions that impose requirements for the mission of the university in the QH model, which is basically an entrepreneurship mission. As entrepreneurs, Universities have to find possibilities of entering the market and meeting the needs of its stakeholders. The research that includes faculties of the University of Novi Sad is designed to define factors affecting the development of entrepreneurial culture, that is, factors that are essential for the development of entrepreneurship at the University. The first step in the study of leadership and management at all organizational levels is to determine the awareness of all employees at the University through a clearly defined strategy for the development of the University. The differences in responses between the subjects in relation to the function of management will be observed.

Originality/Value of paper:
The main lesson from the analysis presented in this work is the advancement of innovation capacities and innovation culture:
• More intensive utilization of current resources in order to encourage entrepreneurship.
• At the faculties where entrepreneurship is clearly part of the strategy of the faculty, there is noticeable commitment to implement entrepreneurial approach as a model for coordination and integration of such activities.

Keywords:

Quadruple Helix, knowledge economy, research-based innovation.