University Leadership and Contextualised Strategies: A Model for Innovation and Entrepreneurship Ecosystems in Emerging Regions

Universities play a crucial role in fostering innovation and entrepreneurship ecosystems, particularly in emerging regions where economic development depends on effective knowledge transfer and strategic leadership. This study examines the role of university leadership in building innovation ecosystems through a contextualised approach that integrates universities, businesses and the State. Using a qualitative grounded theory methodology, we conducted in-depth interviews with six university executives, six business leaders and two government officials (one local and one national). Additionally, a policy document analysis was performed to assess the alignment between academia, industry and government in fostering innovation in the Magdalena region. Findings reveal that while universities are increasingly promoting entrepreneurship, a lack of coordination with government and industry hinders the formation of a robust innovation ecosystem. Businesses report limited awareness of government support programmes, and policymakers have not established effective mechanisms to facilitate collaboration. Regulatory barriers and communication gaps further restrict the implementation of innovation policies. This study proposes a contextualised strategic model for university leadership that strengthens the Triple Helix framework by emphasising the need for greater alignment between academia, industry and government. The model provides practical strategies for improving collaboration, enhancing policy dissemination and fostering financial support mechanisms for entrepreneurship. By addressing these structural gaps, universities in emerging regions can play a more proactive role in driving economic growth and innovation-led development.