Entrepreneurship Suffers From The Myth That It Only Deals With The Creation

Description
In this breakdown, explores entrepreneurship suffers from the myth that it only deals with the creation.

©Maébh Coleman, 2009.
“Entrepreneurship suffers from the myth that it only
deals with the creation of a new venture. However,
entrepreneurship is much broader than that as it is
not just about establishing a new business but
instead about a way of thinking and behaving”
Cooney & Murray (2008, p68)
Between the
Dragon’s Den and
the Didactic
Sharing national
practices in
Entrepreneurship
Education from a
study of Irish HEIs
Maébh Coleman, Programme Manager
Accelerating Campus Entrepreneurship @ NUIG
©Maébh Coleman, 2009.
Introduction
? The ACE Initiative
? The story of Accelerating Campus Entrepreneurship
? A little bit about Entrepreneurship
? Supply Side Perspectives
? Policy & culture
? What are other HEI’s doing in this space?
? No really…. what are they up to?
? Demand Side Perspectives
? Students (undergraduate and postgraduate)
? Industry
? Blue Skies
? Findings, frameworks and future thinking
©Maébh Coleman, 2009.
? Interrogative pronoun challenge!
? Who are we?
? ITS, ITB, CIT, NUI Galway and led by DkIT
? What are we going to achieve?
? 4 targeted actions: Pedagogy, multidisciplinary,
embeddedness and culture change
? When is it happening?
? Sept 2008 to Sept 2011 (terms and conditions apply)
? Why is this important?
The ACE Initiative
©Maébh Coleman, 2009.
Research (and methodology)
•Surveys
•Supply side surveys
•National survey of Irish HEIs
•4 stakeholder groups
•Presidents, Business
School, non-Business
School and TTO/ILO
•Demand side surveys
•Undergraduates
•Postgraduates
•Enterprise
•Secondary research
•Reports, papers, books and journals
•Best practice cases and study visits
•NICENT
•University of Satakunta, Finland
•National Council for Graduate Entrepreneurship

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©Maébh Coleman, 2009.
Entr*pren**r – Is it a dirty
word?
FICTION: To be an entrepreneur you
must be born that way.
Research suggests that entrepreneurs often
possess these traits:
•calculated risk taker
•creative
•innovative
•vision
•persistence
•inquisitiveness
•strong drive to achieve
•high energy level
•goal oriented behavior
•self confident
•tolerance for failure
•commitment
•problem solving skills
•tolerance for ambiguity
•strong integrity
•highly reliable
•personal initiative
•strong management skills
•competitive
•change agent
©Maébh Coleman, 2009.
Social Fusion – Harvard B School
Social Fusion works with local and global social
entrepreneurs that are growing exceptional hybrid
businesses, both nonprofit and for-profit, that
accomplish large-scale social impact through a strong
business model
Their vision is a sustainable future built
by empowered entrepreneurs
Their bottom line: having your head,
heart and wallet all headed in the same
direction
©Maébh Coleman, 2009.
Supply Side (that’s us)
©Maébh Coleman, 2009.
Entrepreneurial Island: Policy
Context
Bubble chart of nations sized
according to new business
density. Source: 2008 World
Bank Group Entrepreneurship
Survey.
GEM Report 2008
•No change in new firm entrepreneurs
(7.6%) to the fore in terms of
international comparison of early
stage entrepreneurs
•Nascent entrepreneurs decreased
4.2% in 2007 to 3.3% in 2008
•Sharp decrease in perception that
there were good opportunities
(sharpest of all GEM countries) 46%
to 27% between 2007 and 2008
•Necessity entrepreneurs rose from
6% to 19% so 1 in 5 are motivated by
necessity
•Positive social and cultural norms,
sharp decline in perception of
entrepreneurship as a good career
choice
•Upward trend of women starting
businesses has now reversed 5.6%
to 4% while men increased 10.6% yo
11.26%
©Maébh Coleman, 2009.
Breadth and Depth: A message
for the new economy?
? EU, National and Organisational policies
? Lisbon Strategy, Barcelona Agreement
? NDP, Smart Economy, SFI, Government
Agencies
? Focus is on commercialisation of research
outcomes at HEI level, not entrepreneurial
mindsets
? Entrepreneurship education spans several
different government portfolios
? Investment still not enough to unlock the
knowledge reservoir – 1/50
th
of the total
©Maébh Coleman, 2009.
Bertie on the Dragons Den
?
XAw
©Maébh Coleman, 2009.
HEI Context: Top Goals
? Foster entrepreneurial behaviours, skills and
mindsets and to increase the number of student
start-ups
? Seek opportunities to commercially exploit
knowledge at institution
? Inspire students towards an entrepreneurial career
or life
Presidents
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©Maébh Coleman, 2009.
Course provision of
Entrepreneurship Education
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©Maébh Coleman, 2009.
What are other HEI’s doing in
this space?
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©Maébh Coleman, 2009.
No really, what are they up to?
• Enterprise Ireland competition
• Newstalkstudent competition
• Involvement of Irish Marketing Institute
• AIB Innovation Fund
• General exhibitions, local initiatives
Business Plan and
Competitions
• Entrepreneurs society or forum
• Commercialisationand mentoring
• Enterprise week and business week
• Sabbatical exchange for academics
• Workshops and blue-sky days
Extra-Curricular
• Guest speakers and lecture
• Academic modules or part modules
• Project work with or without a multidisciplinary
focus
• Industry placement
• Business game or venture simulation
In-Curricular
Response Type
©Maébh Coleman, 2009.
Demand Side
Maslow’s pyramid of human needs
©Maébh Coleman, 2009.
Undergraduate Students
? Lecturers are the least likely to
influence undergrads!!
? Motivations include: wealth
and success (55.9%) and
being own boss (53.9%)
? Helping community also high
? 78.1% are interested in starting a
business
? 72.4% found entrepreneurship
education to be an important
course element
283 2.00
I like to take risks
282 1.79
I prefer a steady income
stream
282 1.81
I want to be my own
boss
287 2.85
I prefer to follow others
lead
281 2.13
I continually come up
with new ideas
(N) Rating
Avera
ge
My
Entrepreneurial
Instincts

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©Maébh Coleman, 2009.
Postgraduate Students
? 63% would prefer to use the
HEI infrastructure to
commercialise their idea
? 81.5% identified access to
finance opportunities would
play a significant role in the
success or failure of their
idea
12 3 Other
25 2.28 Suppliers
26 2.5 Other Researchers in
Your Field
25 1.92 Legal Advice
24 2.08 Potential Customers
25 2.44 Formal Engagement
with EI
(N) Avg HEI Support for
Networking

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©Maébh Coleman, 2009.
Enterprise and Industry
? 50% of respondents thought that communication skills are the
most important skill required by entrepreneurial graduates
followed by innovative and creative thinking (45.8%) and problem
solving skills (34.8%).
? Surprisingly team-work did not rank highly as a key skill (33%).
? Other capacities are how to pitch the business and project
management skills.
? 45% of respondents felt that real life projects help to promote
entrepreneurship.
? 36% felt that student work placement would be an effective tool
in the pedagogy of entrepreneurship education whist 37% felt
that venture simulations would be of benefit
©Maébh Coleman, 2009.
Findings, frameworks and
future thinking
©Maébh Coleman, 2009.
What problems to academics think
student entrepreneurs face?
? Disjointed agency/policy environment
? Lack of networks and industry contacts
? Resources for academics who would like to provide entrepreneurship
education
? No one-stop-shop for student entrepreneurs
? Access to support and services
Structural
? Opportunity recognition
? Feasibility studies
? Sustainability of technology ideas
Technical
? Self-development
? Teamwork
? Fear of failure / risk aversion
? Age of students impacts their credibility
? Perception of entrepreneurship as a viable career path
Personal
? Access to capital requires experience
? Prohibitive legislation on bankruptcy
? Current economic climate prevents investment in new programmes
andprohibits growth of new businesses
Financial and
Economic
? Elective rather than mandatory course offering
? Matching learning outcomes to industry needs
? Creating an awareness of risk management
Academic
©Maébh Coleman, 2009.
Five elements for
Entrepreneurship Education
calculated risk taker
creative
innovative
vision
persistence
inquisitiveness
strong drive to achieve
high energy level
goal oriented behavior
self confident
tolerance for failure
commitment
problem solving skills
tolerance for ambiguity
strong integrity
highly reliable
personal initiative
strong management skills
©Maébh Coleman, 2009.
What is the challenge?
No recognition for
excellence at
institution
Lacks strategic
integration at an
institutional level
No academic credibility
3
No recognition for
excellence at
institution
Limited time for
academics to
engage properly
Limited time for
academics to
engage properly
Limited time for
academics to
engage properly
Depends on the efforts
of a single person
Lacks strategic
integration at an
institutional level
Limited expertise/
competence
Lacks strategic
integration at an
institutional level
2
Policy environment
and government
support
Policy environment and
government
support
Limited expertise/
competence
Depends on the efforts
of a single person
Depends on the efforts
of a single person
Depends on the efforts
of a single person
1
TTO/ILO President Non-Business Head of
School
Business Academic
©Maébh Coleman, 2009.
Increasing student entrepreneurs
and entrepreneurial students
Policy Focus Policy Action Implementation
Focus
Implementation
Action
• coherent national
strategy to develop
indigenous
entrepreneurs
• national strategy to
streamline
entrepreneurship
education from primary
to fourth level
• entrepreneurship
education on the agenda
for strategic plans and
mission statements
• entrepreneurship as an
essential programme
outcome
• entrepreneurship
education is made
available to all
HPSU and SME
growth in all
sectors
Targeted support
for campus start-
ups
Hard Supports
Soft Supports
• Investment in curriculum
development
• Defining and assessing new
pedagogy
• Pilot schemes in place
• Tangible rewards for
academia
• Innovative funding
mechanisms for start-ups
• Dedicated on-campus
enterprise facilities
• Access to funding information
• Practical mentoring
• Pedagogy is integrated into
curriculum across disciplines
• Networking and cultural
initiatives
• Personal development
• HEIs measure entrepreneurial
health
• Cultural shift toward new
entrepreneurial mission
©Maébh Coleman, 2009.
Impacts so far at NUI Galway
? Research work, conference and journal papers
? Innovation think tank
? Open source online module
? Embedding entrepreneurship in curriculum
? Encouraging multidisciplinary approaches
? Increased awareness
? Launch of initiative and programmes at Farmleigh
House by An Tánaiste
©Maébh Coleman, 2009.
Thank you
? This presentation draws from a conference paper
first delivered at the Irish Academy of Management
conference in Galway 2009.
? For a copy of the conference paper ‘Shaping the
Next Generation of Entrepreneurs: Overcoming the
Challenges and Barriers’ please contact me.
? Phone 091 493550
? Email [email protected]

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