Building and leading your entrepreneurship education ecosystem

Higher education is on the brink of a major transition. Halfway through the third decade of the 21st century, the only constant of present reality seems to be change and instability, driven by rapid technological advancements, shifting economic landscapes, and complex geopolitical challenges, not to mention pressing societal and environmental issues.

This urges a crucial shift in how we think and do (higher) education, adapting our educational goals and methods to better equip students for a future probably even richer of unknown variables. But how can we equip both young and mature learners to navigate uncertain times and devise innovative solutions to pressing societal problems, while also creating value for themselves and others? ?What competencies should we aim to nurture and develop? I’m sure many educators will recognise themselves in these questions.

In this blog, I explore how entrepreneurship education represents a desirable and feasible path to reconcile the needs of our students and of our society at large, with the world of higher education. At the same time, I offer you my practical tips on how to implement this at your home institution. Feel free to share your thoughts and comments on LinkedIn or reach out to our education team at [email protected] .

This article in short

• There exists an interesting link between the core skills of the future of the job market identified by the World Economic Forum (2023) and the EntreComp model on entrepreneurial competencies. Anybody can learn these skills in order to transform ideas and opportunities into value creation for oneself and others.
• Entrepreneurship is a vital driver of prosperity, societal well-being, and inclusive economic growth. Higher education institutions (HEIs) need to acknowledge and own their role in fostering entrepreneurial mindsets, skills, through their knowledge creation, dissemination and valorisation.
• Over the past five years at ECE, I've collaborated with educators and university leaders globally to integrate entrepreneurship into their institutions. Read here below for my practical tips on embedding entrepreneurship into organisational culture, investing in staff development, creating student-focused entrepreneurial activities, and building a collaborative entrepreneurial education ecosystem.
• Take this to the next level and join an international community of fellow entrepreneurship educators and ecosystem leaders in ECE Digital Masterclasses -- signup links available at the end of this blog!

1. Entrepreneurship & the skills of the future

In their 2023 Future of Jobs Report [1], the World Economic Forum presents a sharp analysis on how a diverse set of concurrent trends and transitions is going to impact the labour market of the future. I invite all my fellow educators to pay particular attention to chapter 4, reporting what companies feel like are the most crucial skills for their workforce, today and tomorrow.

As leader of a prominent entrepreneurship centre , I observe an interesting parallel: virtually all the top fifteen core skills identified by World Economic Forum align closely with entrepreneurial competencies. The latter can be defined as the compound of knowledge, skills and mindset, which build the foundation of an individual’s ‘capacity to act upon opportunities and ideas and transform them into value for others’ [2].

Entrecomp is a prominent framework in the European Union listing the fifteen competencies necessary to (i) identify ideas and opportunities, (ii) mobilise resources, and (iii) put them into action. While all of us might turn to be more or less prone to excel at any of these competencies, anyone can learn to utilise these competencies in their daily lives. It is important to mention that in this case, entrepreneurship is interpreted in a way that goes beyond mere venture creation, but encompasses a diverse range of possibilities to create financial, economic, social and cultural value for oneself and for others.

2. Higher Education Institutions as a driver for entrepreneurship

At Erasmus Centre for Entrepreneurship, our mission is to empower all to realise their entrepreneurial ambitions in their communities. Why? Entrepreneurship is a crucial motor of prosperity, well-being, and welfare. Not only because of its impact on creating new business activities, but also in the transition towards a prosperous, sustainable, and responsible society and inclusive economic growth[3].

I know what some of you, fellow educators, may be thinking, as I heard it multiple times: what do we have to do with entrepreneurship? Quite a big deal, in fact. Research suggests that reinforcing entrepreneurship education in higher education institutions (HEI) not only creates dynamic entrepreneurial economies, drives (social) enterprises and startups; but also contributes to the employability and ‘intrapreneurial’ behaviour of young people within existing organisations[4]. In particular:

• Known for scientific excellence, universities and other HEIs are a unique regional learning and developing engine;
• HEI do have an extended network and powerful reach, including prominent alumni;
• We are responsible for knowledge creation and spillovers: developing the competencies of today tomorrow’s leaders and change agents;
• As part of our third mission on valorisation, we foster knowledge transfer, including spinoff venture creation and societal engagement.

By embracing these roles, HEI can profoundly impact students and society, equipping future leaders with the entrepreneurial skills necessary to drive change.

3. What can you do next as a Higher Education Institution?

During the past five years at ECE, I’ve been working with several educators and university leaders in Rotterdam and around the world to embed entrepreneurship within their institution. Based on this experience, I’ve collected some key strategies that worked successfully:

1. Embed entrepreneurship in your own organisation. For lasting impact, you need to ensure entrepreneurship runs into the DNA of your HEI. Watch out, though: this requires a careful coordination of both a top down approach (e.g. institutionalising entrepreneurship in your strategy) as well as a bottom up one (e.g. creating the right incentives for your community to engage in entrepreneurial activities);
2. Mobile resources to invest in the development of your workforce. Entrepreneurship may be unfamiliar territory for your academics and staff. You need to invest into their entrepreneurial development, as individuals as well as educators and facilitators.
3. Develop a set of activities to inspire, educate and get students into action. Design and implement a comprehensive educational portfolio of tailored content and experiential initiatives in an entrepreneurial context. Make sure you offer all members of your community opportunities to familiarise and get inspired with entrepreneurship, but also to train their skills at a professional level and to get going with their entrepreneurial endeavours.
4. Build and lead an entrepreneurial education ecosystem. Foster quality relations and interaction among multiple stakeholders in your region, by coordinating efforts within your higher education institutions, but also with external parties which may support your community’s entrepreneurial endeavours. In other words, open your doors to external stakeholders and make sure everybody is aligned on your goals when it comes to entrepreneurship education at your HEI.

Conclusion

In a rapidly evolving landscape of higher education, entrepreneurship stands out as a beacon of adaptability and innovation. The integration of entrepreneurial competencies within HEIs is not merely a trend but a strategic imperative that equips our future leaders to navigate and shape the uncertain world of tomorrow.

From Erasmus Centre for Entrepreneurship, I've seen firsthand the transformative power of this approach — not only in fostering economic growth, but also in inspiring a culture of resilience and social responsibility. By embedding entrepreneurship into the DNA of our HEIs, investing in the development of our educators and staff, and building a collaborative ecosystem, we lay the groundwork for a future that embraces change as an opportunity.

As we part ways in this blog, I extend an invitation to all educators, university leaders, and stakeholders in the realm of higher education to join in this vital mission. Whether you’re at the beginning of this journey or looking to deepen your existing initiatives, remember that the pursuit of entrepreneurial education is a shared endeavour, ripe with possibilities for innovation, growth, and profound societal impact.

…Now what?? Are you curious how you can further build and lead an entrepreneurship education ecosystem at your (Higher) Education Institution? Join ECE next Digital MasterClasses to enhance your entrepreneurial skills and knowledge!

Gain insights into entrepreneurship, innovation, and ecosystem activation best practices through expert-led sessions covering topics like entrepreneurial ecosystem activation and strategy. With each edition focusing on a different theme, you'll have the chance to engage in peer-learning with an international community, network with like-minded individuals, and participate in hands-on learning activities tailored to real-world applications. Don't miss out on this opportunity to level up your entrepreneurial competencies – sign up for ECE Digital MasterClasses!

Sign-up for the Spring Edition: May 22 (13:00 – 15:00 CET), May 29 (13:00 – 15:00 CET), June 5 (13:00 – 15:00 CET)?

Sign-up for the Summer Sprint Edition: July 2 (13:00 – 15:00 CET), July 3 (13:00 – 15:00 CET), July 4 (13:00 – 15:00 CET)?

Sign-up for the Fall Edition: September 18 (13:00 – 15:00 CET), September 25 (13:00 – 15:00 CET), October 2 (13:00 – 15:00 CET)?

[1] https://www.weforum.org/publications/the-future-of-jobs-report-2023/in-full/

[2] Bacigalupo, M., Kampylis, P., Punie, Y., Van den Brande, G. (2016). EntreComp:

The Entrepreneurship Competence Framework. Luxembourg: Publication Office of the European Union; EUR 27939 EN; doi:10.2791/593884

[3] Baggen, Y., Kaffka, G., 2022, Entrepreneurial literacy and skills, Publication for the committee on Employment and Social Affairs, Policy Department for Economic, Scientific and Quality of Life Policies, European Parliament, Luxembourg.

[4] European Commission. (2014). Entrepreneurship Education: A Guide for Educators. Entrepreneurship 2020 Unit, Directorate-General for Enterprise and Industry