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Are universities the ideal startup platform?

Are universities the ideal startup platform?
Monday, 5 June 2017

The company 3 Day Startup helps students start companies and hosts conferences (Global Roundup Conferences [1], and have come to the decision that universities are an ideal start up platform [2]. This doesn’t to say that they believe that all university students are ready to start a business or that all new entrepreneurs should be studying or have received a higher education degree, but that the university environment has some special characteristics.

First of all, they consider that universities in general tend to attract young, ambitious people who are interested in learning. In addition, 3 Day Startup recognizes that universities, especially those which are considered as more prestigious institutions, tend to create circumstances where students learn the discipline and work ethic that is necessary to achieve success when launching startups [2].

Universities also provide a place where people of different, multidisciplinary backgrounds come together and interact. 3 Day Startup considers that successful startups usually have well-rounded teams with members from diverse qualifications [2]. In this sense, a university campus is a unique place to create relationships and build businesses.

Finally, this company considers that university students are open to more risk. This may be because younger people highly value entrepreneurship, but also because they don’t have as many financial obligations as people with families. This combined with the fact that we need only a little capital to potentially start a business means that more students are open to beginning a startup [2].

Other positive aspects to consider is the access to world class technology that students can use in research universities and first-class knowledge. Universities usually also offer some sort of support (business or financially orientated or both), helping startups get their feet off the ground [3].

Ultimately, perhaps we can consider that universities create an environment that fosters innovation and can help push startup success.