What is Knowledge Spillover

The education system at all levels in Bosnia and Herzegovina (BiH), in an emerging and small open transitional economy is still insufficiently focused on strengthening the entrepreneurial spirit of young people, as well as encouraging young people to self-employment as a career option. The purpose of the research is to analyze the development of the entrepreneurial ecosystem of University of Banja Luka (UNIBL) and to model the future contours of a reformed modern medium-sized public university in small developing economies, with the focus on building campuses as entrepreneurial ecosystems. From empirical research carried out in 2018 by using a factor and correlation analysis, it can be concluded that UNIBL does not have the characteristics of an entrepreneurial university and that it is necessary to transform the university. A modified model of the entrepreneurial ecosystem of the University of Chicago adapted to small transition emerging economies was proposed.