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Is this What True Entrepreneurship Education Should Look Like?

Is this What True Entrepreneurship Education Should Look Like?
Wednesday, 4 April 2018

In a world where entrepreneurship is being touted as a solution to economic problems world-wide in the future [1], even in the GLOBAL-SPIN Project it is important [2], are people really developing the skills they need? Perhaps not. While entrepreneurship classes around the US have quadrupled in the last quarter of a century, fewer young people are actually starting their own businesses.  [3]

Author Andrew Yang defends the idea that a disconnect between academic education and real-life learning could be the difference between where we are and where we think we should be. He believes that it is difficult to teach entrepreneurship due to the necessity to practice entrepreneurship to be able to truly understand it. [3]

What does this author believe we would need to know if we were to truly have an entrepreneurship education? He suggests three lessons [3]:
1. Action orientated classes: In a world where obtaining funding is essential to startup success, the only way to learn how to raise money is by going out and doing it. Those of us who are not able to obtain the funding won’t benefit much from a detailed lecture.

2. Acceptance of failure: When reality means that most businesses fail, how can you teach about businesses without conditioning students to failure? Therefore, failing with and without reason should be taught to future students.

3. Understanding the possibilities and taking advantage of them: Those of us who enrol in entrepreneurship courses are not the ones who are out there making it happen. To be successful you have to take action, be confident and convicted, and be willing to fail and persevere.

The European Union is taking steps towards improving entrepreneurship education within partner States and hopefully some of the projects being implemented can help promote these three lessons for a more entrepreneurial generation moving forward [1].