Entrepreneurs Are the Cool Kids on Campus
Monday, March 05, 2012
Posted by: Kristina Moy
A new movement fueled by college-aged entrepreneurs and the organizations that support them is just beginning to take off.By Abigal Tracy, INC.com
By Abigail Tracy, INC.com
The number of young entrepreneurs, particularly those in
college, has seen a significant increase over the last five years, but
beyond the raw numbers there has emerged a burgeoning culture founded on
the desire to be independent, to be innovative, and to give back to the
community—the principles of entrepreneurship.
Anecdotally, Inc.com has released its annual report on this
fresh-faced group of business owners since 2009 and this was the first
year that we had over 200 nominations. In the past, we were lucky to get
a few dozen. This speaks volumes to the gains this group has made in
just one year. However, in the scheme of things, although young
entrepreneurs are increasing as a group, the numbers are still quite
low, says Michael Simmons, co-founder and CEO at Extreme
Entrepreneurship Education Corp.
The Global Entrepreneurship Monitor, which actually tracks
early-stage entrepreneurial activity found that in 2010 about 5.5
percent of Americans ages 18 to 24 were actually helming an early-stage
start-up (compared with 11 percent of 25 to 34 year olds, which is the
most entrepreneurial cohort)—while Census data showed that in 2007, only
2.2 percent of business owners were under 25 years old. A survey by the
Kauffman Foundation also found that the desire to start a business over
other careers has risen for young adults ages 18 to 21 from 19 percent
in 2007 to 25 percent in 2010.
One can ask when this surge in entrepreneurship at earlier stages in
life and the growth in the entrepreneurial spirits amongst college
students began, but it is hard to pinpoint the trigger as numerous
factors have contributed to the shift.
Read the rest of the article