The concept that entrepreneurship can be taught by teaching start-up-related information has always influenced the traditional entrepreneurship education school. However, more modern research and approaches demonstrate that experience in entrepreneurship is essential to be a competent entrepreneur. As a result, entrepreneurial education methods that make entrepreneurship real are becoming more popular. Project-based learning, action-based learning, and experiential learning are all examples of this. In general, these methods better prepare alumni for future problems in their careers or self-employment than more traditional methods.
Encouraging students to think like entrepreneurs is necessary. And simply providing the information isn’t enough to cultivate motivation. To encourage entrepreneurial thinking and behavior, the learning environment must be redesigned to include not just inspiring individuals and successful start-up examples, but also chances to customise the prerequisites for establishing a business.
Learn by experiencing
The most effective type of learning is certainly experiential learning.
The majority of our life skills—eating, crawling, walking, and communicating—are acquired by trial and error: action, consequence, reflection, and then remedial action.
For example, it is impossible to learn to swim simply by listening to swimming lectures. Entrepreneurship is the same way; it’s best learned through experience. We, at MIDAS utilize venture creation as a vehicle in our educational programs to help students acquire an entrepreneurial mindset and skillset that will benefit them in future projects, jobs, and for their businesses.
Encouraging new ideas
By letting students come up with ideas for businesses, we encourage them to experience the starting up of a new venture in an educational setting. Students have to go through different stages and work like real-life professionals for the successful starting of their business. At all times, the students are guided by our experts and coaches who teach them new ways of exploring their creativity.
Entrepreneurship leading to self-discovery
Many students are creating and selling something for the first time as part of this venture creation project. The act of generating and extracting value, which is one of the most basic components of entrepreneurship, maybe life-changing. Experiential entrepreneurship education is extremely beneficial for our students because it helps them convert into entrepreneurial thinkers and doers.
So, can entrepreneurship really be taught?
Entrepreneurs, we believe, are both born and made- shaped by their life experiences, including education. While there is no formula for success, we can assist them ‘play the odds’ by demonstrating which methods have the highest probability of succeeding, allowing them to tackle the unforeseen hurdles they may face. However, that education must involve ‘doing,’ which includes trying, testing concepts, and learning from mistakes. Experiential entrepreneurship entails more than simply the acquisition of information and skills to become an entrepreneur. It’s about providing entrepreneurs with thinking tools and frameworks to address changing conditions, rather than strict rules to follow and allowing them to test them out in diverse scenarios. It not only enhances judgment and individual confidence, but it also facilitates learning and better embeds it in the individual.