One of the most critical challenges for our society today and in the future is how we view and organize learning and education in the context of building a sustainable, prosperous, and stable society. Governments are challenged to make higher education more responsive to a competitive labor market and produce highly educated people for social and economic development (Blesia, Iek, Ratang & Hutajulu, 2019). However, there is a mismatch between the supply of higher education and the knowledge and skills needed by the economy(The New Skills Agenda for Europe, 2016).

Transversal competencies, which are the “cornerstone” of every individual's development, are essential in using any knowledge and skills, which is why many international organizations, national governments, the education sector, and employers recognize transversal competencies as a priority (Whittermore, 2018).

The development of students' transversal competencies is an essential part of education at almost all levels, especially in higher education, because they play a crucial role in the knowledge society and lifelong learning, promoting competitiveness and employment opportunities in the labor market (Rios, Ling, Pugh, Becker, Bacall, 2020; Neubert, Mainert, Kretzschmar, Greiff, 2015; Larraz, Vázquez, Liesa, 2017; Care, Luo, 2016; Trzmiel, 2015). 

The above mentioned raises one of the 21st-century challenges like changing educational outcomes and the shift from a knowledge-based to a competency-based learning process ( Salisu, Hashim, Mashi et. al, 2020). That’s why most countries worldwide have put entrepreneurship innovations in higher education as the top priority and are on the political agenda because they help to develop students 'employability skills, foster students' interaction between academia and society, and develop problem-solving skills, creativity skills, and the ability to mobilize resources (Leon, 2017; Blesia, Iek, Ratang & Hutajulu, 2019; Keinänen, Kairisto-Mertahen 2019; Ovbiagbonhia, Kollöfel, Brok, 2019; Ferreras-Garcia, Sales-Zaguirre, Serradell-Lopez, 2021).

Given the above, the following research questions were raised:

1. How do experts and stakeholders in different fields understand innovative and entrepreneurial competencies in the context of education and their significance in higher education? 
2. How can higher education students develop these competencies? 

The study was conducted within the  ESF project No. 8.3.6.2. “Development and Implementation of the Education Quality Monitoring System” Project agreement No. 8.3.6.2/17/I/001 (23-12.3e /19/103). 

The study is funded by "Strengthening of the capacity of doctoral studies at the University of Latvia within the framework of the new doctoral model”, identification No. 8.2.2.0/20/I/006

The qualitative study aims to determine the importance of students' transversal competencies (innovative and entrepreneurial) in the study context and the need to evaluate these competencies in higher education. Two focus groups, thematic discussions on innovation and entrepreneurial competence, were implemented to achieve the research goal. Six representatives from higher education and stakeholders participated in three hours long focus group discussions. At the beginning of the focus group discussion, respondents were offered two definitions of innovative and entrepreneurial competence based on literature analysis: Innovative competence describes a student's knowledge, skills, and attitudes required for the creation and long-term implementation of practical, effective improvements or innovations (new product or solution, invention (process result), methods, devices, ideas) that are useful to people or organizations. Entrepreneurial competence describes the ability to create, see or transform ideas and opportunities by mobilizing and effectively using the necessary resources to achieve goals. Transversal skills cover all areas of life, from personal growth to active participation in society, participation in the labor market as an employee or self-employed person, and starting a social, commercial business. In the next stage of the qualitative study, the following issues were discussed with the respondents: Why is innovative and entrepreneurial competence important for university students? How to make university students successful innovators? What are the recommendations for developing innovative and entrepreneurial competence for university students? How is entrepreneurial competence developed in the study process at the moment? In the last stage of the qualitative study, focus group discussion recordings were transcribed and analyzed using Qualitative Inductive Content analysis and QSR NviVo 12 program for data processing.

As a result of the research, using the method of inductive content analysis, 28 theses were developed to formulate policy recommendations for the practical assessment of transversal competencies of students in higher education within the framework of the project mentioned above. Aspects of defining entrepreneurship appears in the theses, for example, that entrepreneurship is the ability to work with limited resources, it goes hand in hand with design thinking, its development requires empathy, and it adds value to society or the individual, develops students' problem-solving skills and creates long-term replicable skills. Results. Entrepreneurship can be developed through modeling or situation analysis and learning from experience, understanding one's resources, and purposeful analysis of one's activities. In turn, the theses of innovative competence show that it is essential to consider the historical aspects of innovation, which reveal the ways of cooperation between lecturers and students and promote understanding of opportunities and solutions for the development of these competencies in the future. One of the unifying elements of innovative competence is responsible cooperation between students and university lecturers. For students to create innovations, it is necessary to go through the entire innovation process, from the generation of an idea to the practical implementation of innovations and the example of the lecturer's actions. Innovative competence can be successfully developed by working in groups, taking into account students’ needs, developing soft skills, and the ability to defend their opinions and ideas.

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