EFFECT OF ENTREPRENEURIAL INNOVATION ON POVERTY ALLEVIATION IN TERTIARY INSTITUTIONS

Abstract

The aim of this study is to investigate the effect of entrepreneurial innovation in Tertiary Institutions on poverty alleviation amongst selected universities in Ogun State, Nigeria. Entrepreneurial innovation can be used as a pivotal measure at reducing rapid increase in graduate unemployment in the country which is therefore imperative. it seeks to promote and encourage universities graduates through the development of a broad private sector within the manufacturing and service industries which are geared towards improving competitiveness of small and medium scale enterprises and also supporting the growth of new enterprises. The study applied a mixed-method approach which administered 344 copies of questionnaire and 20 in-depth interview. Using SPSS and thematic analysis with the help of Nvivo2.0 for qualitative data, multiple regression and correlation analysis were used to analyze the quantitative data. The study found R Square of 0.686 with an Adjusted R values of 0.681, revealing a significant relationship between entrepreneurial innovation and poverty alleviation. The qualitative results were also in tandem as it showed entrepreneurial development to be strongly associated with job creation. Based on the findings, the study concluded that there is a positive relationship between entrepreneurial innovation and poverty alleviation. The study thus, recommended that universities should encourage entrepreneurial innovation as it contributes to poverty alleviation when it creates employment. It also increases social wealth by creating new markets, industries, innovations, jobs and increases in real productivity which culminates in higher standards of living for Nigerian graduates.