Entrepreneurship Among Students

Goals

To understand the impact and importance of youth entrepreneurship among students, and effective ways to teach entrepreneurship to young people in grades K-12.

Early Findings

Sources
Entreprenurship Education: A Student's Perspective
Entrepreneurship Education: State-of-the-art
Why We Need to Study and Learn Entrepreneurship
How Does the Entrepreneurship Education Influence the Students’ Innovation? Testing on the Multiple Mediation Model
The Rise of High School Entrepreneurship
U.S. High School Students' Entrepreneurial Ambition at New Low

Statistical Data
  • 41% of middle and high school students plan to start their own businesses.
  • 45% percent say that they will invent something world changing.
  • The states reporting of Entrepreneurship Education highlights 42 out of 50 states in U.S. have K-12 guidelines or proficiency in entrepreneurial education.
  • Over 300 high school students applied to Governor's School for Entrepreneurship in 2019.
  • More than one in four students in grades nine to 12 (27%) say they plan to start a business, down from the 33% to 35% range found among this group from 2011 to 2015.
  • Ambition remains higher among students in grades five to eight (55%).
  • High school students (60%) are more than twice as likely as fifth- to eighth-grade students (27%) to say their school offers classes in how to start and run a business.
  • The field of entrepreneurship is situated in the intersection of three perspectives (economics, psychology and sociology) that when developed, emphasizes its importance in society.
  • Content, methods and activities add support to the creation of knowledge, competencies and experiences that make it possible for students to initiate and participate in entrepreneurial value creating processes.
  • There are similarities between entrepreneurial competencies and non-cognitive factors, such as perseverance, self-efficacy, learning and social skills that encourage an academic mindset.
  • Value creation occurs on a social and emotional level in society, and is connected to people’s happiness, not only in making a living but also in feelings of meaningfulness, participation, engagement and life satisfaction.
  • There is a problematic deficit of new and innovative value creation activity and that equipping all citizens with increased entrepreneurial competencies through entrepreneurial education is a viable strategy for alleviating this problem.
  • Studying entrepreneurship benefits students from different social and economic backgrounds by teaching people to cultivate unique skills and think outside the box. Itcreates opportunity, instills confidence, ensures social justice and stimulates the economy.
  • Entrepreneurship education triggers the entrepreneurial initiatives by enhancing enterprising mindset among the students.
  • Entrepreneurial ability involves adaptive behaviors and strategies to influence others’ actions in relational contexts.
  • Standardized, content focused, passive and single-subject based curriculum in traditional education is contrasted with an individualized, active, process-based, project centered, collaborative, experiential and multidisciplinary approach in entrepreneurial education.
  • Teaching through entrepreneurship involves an action or method-based experimental process, where potential entrepreneurs learn directly through entrepreneurial experiences.
  • Continuous education for entrepreneurs: Continuous learning programs for entrepreneurs who have started successfully business and have some experience.
  • There is increasing consensus among researchers that letting students work in interdisciplinary teams and interact with people outside school / university is a particularly powerful way to develop entrepreneurial competencies among students. Indecently, the majority of students in grades five to eight have intentions of starting their own business, but few have access to classes on how to achieve this goal later in their lives.
  • The conceptual learning by doing model is a framework that shows how learning (internalization) and value creation (externalization) are interconnected and can reinforce each other.

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