Research Insight: Entrepreneurship Education Is About More than Startup Creation

Entrepreneurial Thought Leaders (ETL)

Stanford eCorner

Business, Life Lessons, Creativity, Startups, Strategy, Thought Leadership, Education, Stanford University, Leadership, Challenges, Journey, Culture, Etl, Innovation, Founders, Stanford, Entrepreneurship

4.5 • 740 Ratings

🗓️ 22 September 2021

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a recent paper, Stanford professor Chuck Eesley and Notre Dame professor Yong Suk Lee observed that formal entrepreneurship education helped Stanford alumni founders raise more funding and scale more quickly than peers who received no formal entrepreneurship training. But entrepreneurship education didn’t lead to a higher rate of startup creation itself. What should that finding mean for entrepreneurship educators? In this episodes, Eesley poses that question to three thought leaders devoted to training future innovators: Jon Fjeld of Duke’s Innovation and Entrepreneurship Initiative, Hadiyah Mujhid of HBCUvc, and Elizabeth Brake of Venture for America. The conversations explore the many ways that entrepreneurship education can impact students and aspiring innovators — even if they never found a company themselves.

Transcript

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0:00.0	Who you are defines how you build.
0:05.0	This is the Entrepreneurial Thought Leaders series.
0:09.0	Brought to you by Stanford E-Corner.
0:13.0	What's the point of entrepreneurship education?
0:18.0	I'm Chuck Easley, Associate Professor in Stanford's Department of Management,
0:21.9	Science and Engineering, and in this episode, we're going to explore that fundamental question.
0:26.8	It's an important question, not just for universities, but also for local and national government.
0:32.2	Education and training in entrepreneurship is often promoted as a force that can create jobs,
0:37.4	spur much-needed technological
0:38.8	innovation, and even reshape the global geopolitical balance. Yet in a recent research paper I wrote
0:45.7	with Yongsukli at Stanford's Freeman Spogley Institute for International Studies, we found
0:50.7	something that might seem counterintuitive. Looking at data from Stanford alumni,
0:55.2	including those who participated in programs run by the Stanford Technology Ventures program
0:59.6	and the Center for Entrepreneurals Studies in Stanford's Graduate School of Business,
1:04.4	we found that entrepreneurship education seemed to have zero impact on startup formation rates among alumni of those programs.
1:11.6	We'll include a link to that paper in the show notes on eCornor.
1:15.6	So if entrepreneurship education doesn't necessarily create more startups, why do it?
1:19.6	We did find some evidence that entrepreneurship education results in a higher quality pool of founders.
1:25.6	Those who do start companies tend to get started sooner after graduating,
1:29.3	have a lower rate of failure, connect more with fellow alumni,
1:33.3	and create larger firms with more revenue.
1:36.3	And in any case, at STVP, we believe that entrepreneurship and innovation
	...

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