An innovative HEI should integrate and assimilate the knowledge generated through its activities for extending its entrepreneurial agenda. Linking research and education with industry and local communities can lead to the co-creation of knowledge, for example through the involvement of external partners in teaching and research activities. The alignment of teaching and research activities with the needs of and opportunities in the wider ecosystem helps stimulate the creation of new knowledge and subsequently support upskilling and reskilling and create resilient communities.

In addition, an entrepreneurial and innovative HEI should support the identification of new ideas and their mutual exploitation for the benefit of the HEI and its external environment. The HEI can identify new and relevant knowledge through monitoring research activities regionally, nationally and internationally, and having mechanisms in place to integrate and absorb information and experience from its wider ecosystem.

Various forms of collaboration include co-constructed study programmes, professional education initiatives, and new research alliances. These often require external stakeholders to take part in curriculum design, definition of learning outcomes, delivery of the programme by providing real-life learning opportunities, co-supervision of student work, and evaluation of study programmes. A key motivation for businesses to engage in co-constructed teaching initiatives is the access to higher education institution-based knowledge, research results, and specialised labour. In this way, external stakeholders will gain access to tacit and codified knowledge, which either already exists or is co-created during the process.