Challenges of Next GEN Entrepreneurship ..

Challenges

1. No “One Size Fits All” Answer

There is no “one size fits all” solution for entrepreneurship education. The challenges and opportunities for entrepreneurship vary dramatically in different parts of the world as well as for different segments of the educational journey.

It is not appropriate to import models from other parts of the world without modification. Local context must be taken into account in devising and tailoring a set of programs and initiatives relevant for each area.

2. Continuous Learning

There are many new models being tested around the world, both inside and outside of formal educational systems, which need to be shared more broadly to fuel new and more effective approaches to entrepreneurship education. More must also be done to facilitate faculty collaboration, exchanges and research across borders.

3. Academic Acceptance/Legitimacy

While entrepreneurship is still not fully accepted as an academic discipline, many schools and universities have created niches in this area. However, entrepreneurship is still trying to find its home. Faculty champions of entrepreneurship often have to fight internal battles for support and funding of their activities.

4. Effective Measurement and Evaluation

More effective measurement and evaluation of the impact of entrepreneurship education is needed. These should be based on a broadly defined set of outcomes, not only on narrow measures such as the number of start-ups created, and need to go beyond short-term results, measuring longer term impact.

5. Scalability

While an increasing number of entrepreneurship education programs exist today compared to a decade ago, scalability and penetration remain key challenges. Technology provides a mechanism for reaching greater economies of scale as well as providing greater access and sharing of practices.

Conclusions

Entrepreneurship and entrepreneurial skills are core components to building socially inclusive and highly participatory economies in an increasingly global and competitive world. 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. Entrepreneurship education is the first and arguably the most important step for embedding an innovative culture and preparing the new wave of entrepreneurs, entrepreneurial individuals and organizations.