However, the environment for entrepreneurship education and training remains substandard

An Approach to Establishing Environments for Entrepreneurship Education and Training at Universities Project leader: Tong Park. I. Background and Goals of Research □ The need to increase youth employment by promoting youth entrepreneurship □ The Korean government has made "the fostering of youth employment and entrepreneurship, and support for youth economic activity abroad" an important administrative task (15) and is working to establish a creative economy promoting entrepreneurship in new industrial fields such as software and ICT. □ There has been an increased interest in entrepreneurial activity centered on universities since the government's announcement of its strong intention to foster youth entrepreneurship and its expansion of financial support for entrepreneurial activity. However, the environment for entrepreneurship education and training remains substandard. □ Focus cannot rest solely on entrepreneurship education if we are to increase youth employment rates as the global economic downturn becomes more long term. Young people must be given the opportunity to receive hands-on entrepreneurship training at the same time. □ When it comes to establishing an environment for entrepreneurship education and training at universities, efforts must not be singularly focused on lecturing methods. It has become clear that hands-on entrepreneurship training is urgently necessary for the development of such an environment. □ There is increased criticism that entrepreneurship education remains too formal and theoretical. An approach must therefore be developed that can enhance the practical effectiveness of entrepreneurship training.. II. Content of Main Research. 1. Successful role models that have an important effect on student entrepreneurship activity.

□ Entrepreneurship education and training can only be made effective upon establishing even a few successful models within universities and implementing education and training based on these models of success. □ Current entrepreneurship education and training is centered on university professors or Business Incubation (BI) managers, meaning there is a lack of hands-on training with opportunities for students to enthusiastically participate. □ Financial support for the creation of campus venture entrepreneurship models of success must be expanded, and the government must use a highly detailed approach to broadening this increased financial support throughout university campuses.. 2. Positive evaluations of university entrepreneurship education and training among experts, extremely negative evaluations among students. □ A serious interpretation gap exists between groups of experts and students when it comes to the question of whether an active environment for entrepreneurship education and training has been created in universities. □ Overall negativity among students regarding youth entrepreneurship education and training in universities shows that policy has been unable to provide students with the means to actively participate in hands-on entrepreneurship activity. □ An approach must be taken to implement open business structures that allow the majority of beneficiary students to directly participate.. 3. Among 5 groups compared, research-centered universities scored the lowest in the 7 fields comprising environments for youth entrepreneurship education and training, including possessing creative mindsets.. □ Research-centered university members were found to be the most passive when it came to participation in youth entrepreneurship activities. This appears to have a negative impact on the creation of a new labor market through the development of cutting-edge technology businesses..

□ Because research-centered university students are highly likely to be successful in the recruitment market after graduation, they do not see the appeal of the high-risk option of entrepreneurship. □ A groundbreaking approach to providing incentives for outstanding graduates to enter new industrial fields must be developed.. 4. High mistrust between university members of these 5 compared groups regarding participation in programs for fostering leading entrepreneurship universities. □ There is a stark difference in evaluations of campus entrepreneurship activity among groups of experts and students (a 32.8 point difference out of a total 100 points). □ Students participating in programs for fostering leading entrepreneurship universities are unable to actually take part in business activities. □ Because these projects are implemented around experts who have business ideas outside of the university setting, students are not actually able to benefit.. III. Policy Suggestions. 1. Creating successful entrepreneurship role models by promoting the development of campus venture entrepreneurship. □ Promoting the development of a variety of "incubators" in universities for the preentrepreneurship stage □ Analysis shows university student entrepreneurship activity is decisively impacted by whether or not successful entrepreneurship role models exist in the university. □ Financial support for the realization of ideas also has a significant effect on entrepreneurship education and training. □ There is a need to expand financial support for the development of campus venture entrepreneurship that conforms with the approach taken at MIT in the United States and the EXIST program in Germany..

□ The success of youth entrepreneurship activity in universities rests on the establishment of a student-led, bottom-up entrepreneurship education and training environment.. 2. Transitioning to entrepreneurship education and training centered on beneficiaries (students, etc.). □ Student evaluations of the status of entrepreneurship education and training environments are predominantly negative. □ Analysis shows groups of experts within universities (professors, Business Incubation (BI) managers, etc.) mainly evaluate all types of campus entrepreneurship education and training positively, while the majority university students hold a negative opinion. □ Most campus entrepreneurship education and training programs are led by professors and experts, meaning there remains a possibility that students will become object of the programs. □ In order to bring early stimulation to university entrepreneurship education and training environments, students (the intended beneficiaries) must become self-reliant so that they can directly participate. For this to happen there is a need for more open and direct promotion of government initiatives. □ Expert groups and student perceptions particularly diverged in the case of the program for fostering leading entrepreneurship universities, revealing that this project requires an overall transition to a beneficiary-centric model. Because successful results need to be achieved in a short period of time when starting a business, it can be hard for students to directly participate in the program for fostering leading entrepreneurship universities.. 3. The need to strengthen entrepreneurship training approaches, including implementation of business plan contests. □ Hands-on entrepreneurship training is more effective than theory-based lecturing. □ Entrepreneurship training must include various activities to permit hands-on education, including in-university entrepreneurship competitions, entrepreneurship.

and job creation internship systems, capstone design, production of new products, laboratory entrepreneurship, etc. □ Moreover, mentoring from professors and Business Incubation (BI) managers, and senior-junior youth entrepreneurial exchanges also play an important role in entrepreneurship training. □ At MIT in the United States, students put their abilities and ideas for future leading entrepreneurship to the test in business plan and business outline contests and other competitions, and enough prize money is given to winners for them to actually start their own businesses. □ There is an urgent need for "venture mentoring service" systems within universities that allow students and mentors to develop long-term relationships. □ In the case of Korea today, very few incentives exist for university professors, Business Incubation (BI) managers and other experts to offer mentoring to university students. As such, an approach must be found for providing a variety of incentives such as high achievement evaluations or reduced teaching hours for professors or other mentoring experts.. 4. Expanding realistic entrepreneurship education and reducing theoretical approaches to entrepreneurship education.. □ Current entrepreneurship education fails to function as a path to actual business creation. □ Though entrepreneurship lecturing and education programs are currently expansive, many of them have been shown to be overly theoretical or formal in style. □ It is necessary to promote effective youth entrepreneurship education centered on providing opportunities for vivid hands-on experiences, rather than teaching to provide students with simple entrepreneurial knowledge. Further approaches must be developed that allow students to establish entrepreneur clubs and other such teams through the entrepreneurship education they receive. □ At MIT in the United States a "mixed team" course is provided in which 4-5 students from a variety of majors are put into teams to take part in entrepreneurship lessons. This course serves as an opportunity for students to participate in real business activities through entrepreneurship laboratory, global entrepreneurship laboratory, and innovation team projects..

5. Systematic expansion of stage-by-stage government support programs for youth entrepreneurship. □ In order to enliven youth entrepreneurship activities on campus, various government programs must be broadened to provide government support during the stages before entrepreneurs actively enter the market. □ Because there are almost no venture capitalists (who naturally seek profits) investing in the pre-seed stage, this is the most frequent period where market failure occurs. □ Youth entrepreneurs will fail to achieve success if the government does not establish an approach for directly intervening and helping them recover from early stage market failure. Current government approaches to market intervention remain both insufficient and ineffective. □ As we can see from such examples as MIT in the United States and EXIST in Germany, a variety of programs are offered in major countries to support entrepreneurs from the early stages prior to actual business creation. □ In order to convert universities into footholds for innovative entrepreneurship, stageby-stage government support programs must be broadened that provide assistance throughout the entrepreneurial process, from the development of ideas, to entrepreneurship education, business incubation, and early-stage entrepreneurial activity. □ In order to enliven youth entrepreneurship activity, the government must help youth entrepreneurs secure the tools necessary for success in the early stages of entrepreneurship by making publicly available (or providing) patents and concepts possessed in the private and public sectors, various government data, etc..