Abstract
UQU decided to adopt an entrepreneurial approach to transform itself into a World Class University. In 2010, the university formed and appointed the Vice Presidency of Business & Innovation (VPBI) to take the responsibility of developing, implementing, and leading the entrepreneurial transformation strategy of the university. In 2011, the VPBI established the Office of Intellectual Property (UQUIPO) as well as the Education, Research and Innovation Support Fund. In 2012, the University established the Institute of Innovation & Entrepreneurship, a pilot entrepreneurial model for the university to fulfil the new roles in the era of knowledge economy. These roles include developing innovation and entrepreneurship programs, expanding the cross-disciplinary R&D, technology transfer and incubating, and synergizing the development of new businesses. The Institute has launched many offices and initiatives, including the office of Technology Transfer, as well as three Business and Technology Incubators. In the same year, the University also established Makkah Techno Valley, the commercialization arm of the University and its bridge to integrate research, innovation and market. Over the last few years, UQU has achieved significant progress on its journey to establish itself as a world class University. The University competes in the QS international ranking. Moreover, in 2014/2015 the university rose higher in ranking than some British and American universities. The aim of this paper is to draw on some of the unique dimensions of the experience of UQU to establish a world-class university. Towards this aim, the paper will examine the main features of the entrepreneurial transformation approach used to develop an integrated culture between the academic and entrepreneurial worlds within and beyond the University. The paper will also address the main challenges and barriers of the transformation practices in UQU to build and develop a new system based on innovation and entrepreneurship and to support knowledge economy.