Problems & Challenges of Entrepreneurial Education- An Indian perspective National Seminar Jain University, Bangalore Date: October 8,2009 By Prof. Amit Gupta Director,ISBR Business School Bangalore firstname.lastname@example.org
QUOTES ON ENTREPRENEURSHIP EDUCATION Education is the clearest path to individual opportunity and societal growth, and entrepreneurship education is especially vital to fuelling a more robust global economy. Entrepreneurs bring new ideas to life through innovation, creativity and the desire to build something of lasting value. Therefore, we must continually foster educational cultures within our companies, governments and communities to keep the entrepreneurship pipeline filled for generations to come.” Dirk Meyer, President and CEO, AMD We are facing a transition, and we must take this opportunity to provide todays students and entrepreneurs with the tools and the thinking that is required for the future. Collaborative technologies can fundamentally transform both how we teach and learn. We need to harness the power of the Internet and these new technologies for creating and sharing knowledge that will prepare students with the skills to compete in the 21st century." John T. Chambers, Chairman and CEO, Cisco
QUOTES ON ENTREPRENEURSHIP EDUCATION Preparing todays students for success and eventual leadership in the new global marketplace is one of the most important responsibilities in education today. . . Entrepreneurship education is an important tool to achieving these objectives [and ]...should be available to provide all students with opportunities to explore and fulfill their potential." Stephanie Bell-Rose, President Goldman Sachs Foundation & Thomas W. Payzant, Harvard Graduate School of Education Every citizen, no matter where they live or what their circumstances, has an equal right to a quality education. Based on more than a decade of working with education leaders, governments, businesses and development organizations, Microsoft firmly believes that information technology can help transform both teaching and learning, enabling higher quality education experiences for everyone.” Craig Mundie, Chief Research and Strategy Officer, Microsoft Corporationo Intel believes that entrepreneurship is crucial to building local innovation capacity. It brings new technologies to market, and supports economic development through building strong local and regional economies. Both the public and the private sectors have important roles to play in advancing entrepreneurship around the world, including through enabling effective entrepreneurship education.” Craig R. Barrett, Chairman of the Board, Intel Corporation
Agenda Reforms for Education System What is and why entrepreneurship education? Complex Relationship between entrepreneurship, Institutions & national economic development Entrepreneurial Framework Conditions: GEM Model & World Economic Forum Concerns/Challenges for Entrepreneurship education Recommendations for all key stakeholders: Approaches, success factors and challenges
Reforms for Education System Too much has been said and heard on this…in recent past.. Let us put forward a fresh perspective…an entrepreneurial ( holistic) perspective Need to nurture a new generation of innovators who have key skills in areas like science and engineering, but who are also able to collaborate with others and to act in the face of new opportunities. In other words, we need innovators who combine skill with an entrepreneurial mindset. BUILDING THE NEXT GENERATION OF LEADERS: OUR CHALLENGE THE ENTREPRENEURS OF TOMORROW….ARE IN OUR SCHOOLS TODAY!
Reforms for Education System While structural reform is needed, we must also begin to consider new ways of engaging children in the learning process. Such engagement can be achieved in many ways, but we believe that entrepreneurship education must be part of any solution. Also an enabling environment to foster creativity, innovation and to “ think out of the box” is necessary across education systems . Therefore competencies to be developed which internalize “entrepreneurial mindset” The ability to recognize opportunities in one’s life. The ability to pursue such opportunities by generating new ideas and marshaling needed resources. The ability to create and operate a new venture (not necessarily business). The ability to think in a creative and critical manner.
What is and why entrepreneurshipeducation? Enhancing Economic Competitiveness starting at early education years: “pump prime” by expanding training and educational opportunities for those who want to learn more about becoming an entrepreneur. Changing the culture in every community to recognize the entrepreneurial opportunities in each local area will make all states stronger. These small but critical investments can pay big dividends in future economic prosperity. Entrepreneurship education is a life-long learning process. . Some form of entrepreneurship education should be available to all at all levels of the educational system to achieve social and economic inclusiveness by multiple stakeholder partnerships among the ecosystem players.
Complex relationship betweenentrepreneurship, institutions andnational economic development Competitiveness, innovation and economic growth depend on being able to produce future leaders with the skills and attitudes to be entrepreneurial in their professional lives, whether by creating their own companies or innovating in larger organizations. A strong case is obvious for us to move up the value chain from being “factor-driven” economy to transition through “ efficiency-driven” quickly and move into “ innovation-driven” territory ( like some of our services sector companies have shown- IT/ITES/Telecom, etc) Factor-driven economy -largely agricultural, extractive industry develops, triggers economic growth, surplus agriculture labor move to emergent scale-intensive sectors in specific industry clusters, resulting oversupply leading to subsistence or “necessity entrepreneurship”
Complex relationship betweenentrepreneurship, institutions andnational economic development Efficiency-driven economy-leads to institutions to support industrial growth-pursuit of higher productivity through economies of scale-financial capital formation-niches open up in industrial supply chains-emergent small ,medium and large scale sector driven by banking institutions and more “ opportunity entrepreneurship ” with gradual slowdown in “ necessity entrepreneurship” Innovation-driven economy: As economy matures, emphasis shifts to expanding services sector- increasing R&D, knowledge intensity- ”opportunity seeking entrepreneurship” supported by changing face of financial and other knowledge driven institutions ( VC/PE/ Analytics/CRO,etc) Small, innovative firms have productivity advantage over large incumbents and become agents of “ creative destruction” ( Joseph Schumpeter)- remember the Infosys of late 1980’s..! Leading to more opportunity entrepreneurship, leading economic growth and need for more sophisticated education and training in entrepreneurship and allied fields .
Entrepreneurial Framework Conditions: GEM Model& World Economic Forum
Figure 1- The Revised GEM Model Basic requirements -Institutions -Infrastructure -Macroeconomic Stability -Health and primary education Established Firms (Primary economy) Efficiency enhancers -Higher education & training New branches, -Goods market efficiency Firm growth Social, -Labor market efficiency NationalCultural, -Financial market EconomicPolitical, sophistication GrowthContext -Technological readiness (Jobs and -Market Size Entrepreneurship Technical Attitudes: Innovation) Innovation and Perceived opportunities Entrepreneurship Perceived Capacity -Entrepreneurial Finance -Gov. entrepreneurship Activity: Programs Early stage -Entrepreneurship Persistence Education Exits -R&D transfer -Commercial, legal Aspirations: infrastructure for Growth Entrepreneurship Innovation -Entry regulation Social value creation
Concerns/Challenges for Entrepreneurshipeducation “Different is not always better, but better is always different!” Curriculum development: Entrepreneurship and innovation must be deeply embedded into the curriculum to ingrain a new entrepreneurial spirit and mindset among students Creating a critical mass of entrepreneurship teachers -NEN/EDI,etc-more traction required… Funding entrepreneurship Cross-border faculty and research collaborations: multidisciplinary Spin-outs from technical & scientific institutions: monetizing technological innovation Integration, knowledge sharing among different disciplines-mainstreaming entrepreneurship education required
Recommendations for all key stakeholders: Approaches, success factors and challenges 1. Developing Leadership and Life Skills 2.Embedding Entrepreneurship in EducationAPPROACHES 3.Taking a Cross-Disciplinary Approach 4.Utilizing interactive Pedagogy 5. Leveraging Technology 1. No “One Sizes Fits All” Answer 2.Continuous LearningCHALLENGES 3. Academic Acceptance / Legitimacy 4.Effective Measurement and Evaluation 5. Scalability 1. The Entrepreneurial Ecosystem 2.Developing Effective Educators SUCCESS 3.Curriculum Development FACTORS 4.Outreach (Engagement of Business) 5. Advancing Innovation 6. Sustainable Funding