Transforming Business Innovation Into Entrepreneurial Opportunities


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Transforming Business Innovation Into Entrepreneurial Opportunities

  1. 1. University of Tehran<br />Entrepreneurship Faculty<br />Cornerstones of change :Revisiting and challenging new perspective on research in entrepreneurship education<br />ElnazTarzamny<br />Professor: DR. Arabiun<br />
  2. 2. Both deductive and inductive learning<br /><ul><li>In order to produce lasting skill learning, many educators contend that both deductive and inductive learning should be emphasized (Biegelow, 1998).
  3. 3. Deductive learning occurs when a student applies what others know.
  4. 4. With inductive learning, students do not necessarily emulate other’s solution but rather identify entrepreneurial issues in a new and complex situation, set objectives, develop an action plan and assess results of their decisions. </li></li></ul><li>Both deductive and inductive learning<br /><ul><li>By this way, students have this opportunity to not only apply what they have learned but also to formulate creative and innovative solutions that are unique to the problem/issue faced by an entrepreneur.</li></li></ul><li>Transforming business innovation into entrepreneurial opportunities: applying the learning<br />
  5. 5. Incubator program for both entrepreneurs and intrapreneurs<br />Main goal : produce successful graduates, organizations that are financially viable once they have left the incubator.<br /><ul><li>According to the National Business Incubation Association in 2005, 80% of incubator owners were able to obtain formal or informal access to seed or growth capital. And 61% of them assisted in linking the entrepreneurs to angel or venture capital investors.</li></li></ul><li>Incubator program for both entrepreneurs and intrapreneurs<br /><ul><li>For many students who wish to start their own business in the first few years after graduation, incubator programs can give new ventures the survival skills during the start-up period when they are the most vulnerable.
  6. 6. Incubator programs provide an encouraging and supportive environment for aspiring entrepreneurs to explore their entrepreneurial leaning, validate their experiences, and to gain the tools necessary to build and grow successful venture. </li></li></ul><li>Intensive mentoring program<br />Main goal: To further challenge the ideas of entrepreneurship students.<br /><ul><li>By building alliance and relationships with other entrepreneurs, business professionals, alumni, and investors, students gain personal insights, develop concepts, and formulate new ideas with this form of training.
  7. 7. It’s done by professionals that have a vested interest in enhancing the success rate of the entrepreneurs in the program. </li></li></ul><li>Intensive mentoring program<br />There are a number of forms of mentoring:<br /><ul><li>One-on-one : it’s more focused.
  8. 8. Group mentoring : it’s optimum.
  9. 9. Team-to-team : since many ventures begin with a core team, it may be the ideal form. </li></li></ul><li>Venture capital and/or angel funds<br /><ul><li>A growing number of programs want to ensure that student and alumni obtain seed capital by establishing venture capital.
  10. 10. The selection process may involve several steps of examining the new business before final approval.
  11. 11. Each student’s plan is critiqued by a number of faculty advisors and alumni before the business idea is formally reviewed by an advisory panel. </li></li></ul><li>Venture capital and/or angel funds<br /><ul><li>Once the advisory panel has examined the plan, it is then referred to the Board of Directors who make the final selection for funding.
  12. 12. Current students in the program, can be involved by researching end examining potential investment and screening new applicant for the funds.</li></li></ul><li>Venture capital and/or angel funds<br /><ul><li>Students can have the opportunity to perform on the new venture( e.g. critiquing business plan, uncovering strengths and weaknesses of the management team and investigating the assumptions and risks associated with the business). </li></li></ul><li>Field consulting in emerging enterprises <br /><ul><li>Instead of merely focusing on field consulting work for start-up ventures, emphasis should also be placed on assisting organizations that are in the later stages of growth and development.
  13. 13. Students gain an awareness and knowledge of the intricacies, complexities and amount of effort required in managing a growing company. </li></li></ul><li>Field consulting in emerging enterprises <br /><ul><li>Analysing and recommending future avenues of expansion as well as exit strategies for business owners are all key elements of entrepreneurial process that are often ignored in many current entrepreneurship programs.
  14. 14. By working cooperatively with community businesses to determine which concept should be taught or reinforced, educators can identify those learning experiences that will lead to change in student’s behavior and skill levels related to emerging entrepreneurial organization. </li></li></ul><li>Field consulting in emerging enterprises <br /><ul><li>In sum, the fieldwork component of a student’s education achieves a number of goals in development for our future entrepreneurs, including:
  15. 15. Unique outreach: identifying entrepreneurs, across a variety of fields, disciplines to work directly with students in the firm of a fieldwork.
  16. 16. Community building: building a collective group of entrepreneurs entrepreneurial students with advanced business skills to collaborate on issues related to the growth of entrepreneurs’ businesses.
  17. 17. Knowledge transfer: reciprocal relationship and knowledge sharing between the entrepreneurs and students.
  18. 18. Business enhancement: students to provide meaningful and substantive management assistance to the entrepreneurial firms.</li></li></ul><li>In consequence <br />Authors are proposing a new map of entrepreneurship education and training and their contributions around three main trends in the field: <br /><ul><li>Changing paradigms
  19. 19. Renewing methods
  20. 20. Understanding content</li></li></ul><li>Conclusion<br /><ul><li>This introductory has sought to address a number of key issues relevant to the design of an entrepreneurship curriculum as well as programs and research needed to support entrepreneurship education.
  21. 21. Although many of the issues discussed deviate from many of the traditional ideas of teaching entrepreneurship, they may be better suited to the changing demands of the economy and marketplace where complex problem and uncertainty are ever present. </li>