(October 1, 2015) Showing
students how to launch a successful start-up with hands-on approach gives them
confidence to found own company
The number of college graduates willing to start new
businesses -- the largest producer of private sector jobs over the past 25
years -- could depend heavily on the entrepreneurial focus and structure of the
universities from which they graduate, according to a new study.
The article in the Journal of Small Business Management
suggests that experiential entrepreneurship education that guides students
through the process of starting their own firm, as opposed to more theory-based
curriculum, increases confidence and the likelihood they will become
entrepreneurs. It also found that students graduating with higher levels of
perceived self-efficacy were more likely to found their own firm than join an
existing one.
While previous studies have focused exclusively on the
attributes of entrepreneurs and the reasons they start businesses, “Founder,
Academic, or Employee? A Nuanced Study of Career Choice Intentions” compares
the entrepreneurial intentions of students planning to become founders with
those of students planning to work as an employee at an existing firm, and with
those desiring to enter academia and become professors at colleges and
universities.
“People become entrepreneurs because they think they are
good at it and are going to be successful, but students don’t always feel that
way when they graduate,” says Erik Monsen, the Steven Grossman Endowed Chair in
Entrepreneurship at the University of Vermont. “Our findings show the need for
more goal-specific programs that give students the confidence that founding
one’s own firm can be a controllable and potentially successful career. Founding
or working in start-ups is one possible solution to keeping our best and
brightest here in Vermont. Colleges and universities can play an important role
in convincing students that the non-corporate path is a viable option."