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More college students than ever want to become entrepreneurs,
and universities and colleges across the country have been racing to
meet the demand for formal training in the subject.
More than 400,000 students a year take courses in entrepreneurship, which are offered at thousands of colleges and universities across the country. Some schools like Olin College of Engineering in Needham, Massachusetts even require their students to earn at least one credit in the subject.
Perhaps TV shows like ABC's “Shark Tank,” or the recent Great Recession are to thank for making typical payroll jobs less appealing or attainable. But can you really teach someone to become a successful entrepreneur? After all, innovators like Mark Zuckerberg, Steve Jobs and Bill Gates didn’t need this kind of training.
For Bill Aulet, the managing director of the Martin Trust Center for MIT Entrepreneurship, the answer is a resounding “Yes.”
Aulet, the author of “Disciplined Entrepreneurship,” discusses the tools and skills he gives his students at MIT to help them launch successful businesses. WGBH higher education reporter Kirk Carapezza explains why—with the ever-increasing cost of college—some schools are facing pressure to prove the value of entrepreneurship courses.
Aulet says entrepreneurship isn't about coming up with new technologies, but refocusing ideas and technology and applying them in a more targeted way.
"That's really the process of entrepreneurship—it's not about coming up with new technology, it's about taking existing ideas and technologies and making it so that it applies to a certain customer so that they'll pay for it and get more value out of it," says Aulet.
But is innovative thinking really something that can be captured in a classroom or in a lecture? Carapezza thinks so.
"I see real value in entrepreneurship teaching and training—in fact, I think most of us need it in some form," he says. "Even the skeptics I've spoken with have said most of us need entrepreneurship education."
Carapezza adds that this idea is already being brought to life. Citing the Kauffman Foundation of Entrepreneurship, Carapezza says there are more than 5,000 entrepreneurship courses at 2,600 colleges and universities.
Though new classes can impart valuable skills to students, Aulet notes that there needs to be focus because there are two types of entrepreneurship. The first is small-medium enterprise (SEM) entrepreneurship, which focuses on smaller businesses that are more localized, like a pizza shop or nail salon. The second is innovation driven enterprise (IDE) entrepreneurship, which focuses on high-growth companies that are looking to address global markets.
"We're very confident that this can be taught," says Aulet of IDE entrepreneurship. "I think the problem is that while demand is surging, the supply of high-quality entrepreneurship education is not meeting that demand. Entrepreneurship has not been taken seriously—it has been more of a black art."
Aulet says entrepreneurship education should be viewed as a rigorous profession measured by data, instead of one that often comes in the form of folklore.
"We really need to hone in and figure out what works and what's most effective because the cost of college continues to skyrocket and families facing mounting debt are asking serious questions not about the importance of a college degree, but about the value and quality of that degree," adds Carapezza.
Echoing his comments, Aulet says students are demanding accountability and metrics to measure the success of entrepreneurship programs.
"We've seen an explosion in the demand for entrepreneurship," adds Aulet. "Higher education needs to redesign itself to address this issue."
More than 400,000 students a year take courses in entrepreneurship, which are offered at thousands of colleges and universities across the country. Some schools like Olin College of Engineering in Needham, Massachusetts even require their students to earn at least one credit in the subject.
Perhaps TV shows like ABC's “Shark Tank,” or the recent Great Recession are to thank for making typical payroll jobs less appealing or attainable. But can you really teach someone to become a successful entrepreneur? After all, innovators like Mark Zuckerberg, Steve Jobs and Bill Gates didn’t need this kind of training.
For Bill Aulet, the managing director of the Martin Trust Center for MIT Entrepreneurship, the answer is a resounding “Yes.”
Aulet, the author of “Disciplined Entrepreneurship,” discusses the tools and skills he gives his students at MIT to help them launch successful businesses. WGBH higher education reporter Kirk Carapezza explains why—with the ever-increasing cost of college—some schools are facing pressure to prove the value of entrepreneurship courses.
Aulet says entrepreneurship isn't about coming up with new technologies, but refocusing ideas and technology and applying them in a more targeted way.
"That's really the process of entrepreneurship—it's not about coming up with new technology, it's about taking existing ideas and technologies and making it so that it applies to a certain customer so that they'll pay for it and get more value out of it," says Aulet.
But is innovative thinking really something that can be captured in a classroom or in a lecture? Carapezza thinks so.
"I see real value in entrepreneurship teaching and training—in fact, I think most of us need it in some form," he says. "Even the skeptics I've spoken with have said most of us need entrepreneurship education."
Carapezza adds that this idea is already being brought to life. Citing the Kauffman Foundation of Entrepreneurship, Carapezza says there are more than 5,000 entrepreneurship courses at 2,600 colleges and universities.
Though new classes can impart valuable skills to students, Aulet notes that there needs to be focus because there are two types of entrepreneurship. The first is small-medium enterprise (SEM) entrepreneurship, which focuses on smaller businesses that are more localized, like a pizza shop or nail salon. The second is innovation driven enterprise (IDE) entrepreneurship, which focuses on high-growth companies that are looking to address global markets.
"We're very confident that this can be taught," says Aulet of IDE entrepreneurship. "I think the problem is that while demand is surging, the supply of high-quality entrepreneurship education is not meeting that demand. Entrepreneurship has not been taken seriously—it has been more of a black art."
Aulet says entrepreneurship education should be viewed as a rigorous profession measured by data, instead of one that often comes in the form of folklore.
"We really need to hone in and figure out what works and what's most effective because the cost of college continues to skyrocket and families facing mounting debt are asking serious questions not about the importance of a college degree, but about the value and quality of that degree," adds Carapezza.
Echoing his comments, Aulet says students are demanding accountability and metrics to measure the success of entrepreneurship programs.
"We've seen an explosion in the demand for entrepreneurship," adds Aulet. "Higher education needs to redesign itself to address this issue."
- Entrepreneurship Emerging As Part Of College Curriculums WGBH
- Entrepreneurship Education Comes of Age on Campus Kauffman Foundation
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