When students take on new challenges, can they build their own businesses?
An international team of researchers from Harvard University have found that students who take a course on student entrepreneurship can achieve their full potential as a new business owner.
According to the report, published in the academic journal PLOS ONE, the students who took the course were more likely to be able to manage their business with the right amount of capital and have an improved understanding of business concepts and processes.
“In order to help students develop a business plan, it’s important to build a strong business case,” lead author of the study, Professor John F. Gee, said.
He said students who completed the course could have an immediate impact on their businesses by applying for funding, launching a company, or finding a partner.
While students often have a limited knowledge of the basics of business, the course is “a great opportunity to apply what we’ve learned over the past year in our business school to help them develop a strong startup business,” Professor Gee said.
The study also found that the students that took the class were able to learn more about business concepts in the course, such as valuation and market capitalisation, and to be more able to understand their own value and risks, he said.
Students also benefited from the course being a “bridge” between their undergraduate studies and their future career plans.
“[Students] could apply this knowledge to the entrepreneurial life, but also the career-oriented career paths, which is what the university is all about,” Professor Fee said in a statement.
The course is part of a broader set of courses called Entrepreneurship Studies, which aims to help student entrepreneurs learn about the industry and the business practices that make up their industry.
It was created by Harvard Business School as part of its Accelerator for Entrepreneurships program and is one of a number of new business programs being offered by the university.
Students interested in taking the course are encouraged to contact Professor Gie in order to learn about it.