A growing number of business schools are taking measures to cater to an expanding student base focused on entrepreneurism, GMAC reported.
Faced with more students willing to learn how to establish and run their own companies, business schools around the world have made a concerted effort over the past several years to provide them with more resources to support their professional aspirations.
A recent survey of more than 11,000 mba.com registrants shows that about a quarter of business school students are pursuing their graduate degree to develop the skills they’ll need to run their own companies.
Resources for entrepreneurs
To better understand how their graduate school experience helped students launch their business, earlier this year GMAC Research polled more than 1,500 alumni entrepreneurs spanning several generations. In total, 73% of entrepreneurs had access to resources at their university to support their entrepreneurial endeavours. Breaking down their responses between those who graduated before 2010 and those who graduated between 2010 and 2016 reveals how business schools themselves are innovating to connect their students with the resources they need to be successful.
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Of all the on-campus resources listed in the survey, a larger share of 2010–2016 graduates report having access to them compared with alumni who graduated before 2010. The majority of 2010–2016 alumni entrepreneurs report having accessed faculty guidance (58%) and experts/mentors from the entrepreneurial community (56%) compared with fewer than four in 10 alumni entrepreneurs from earlier graduation years. Recent graduates also report greater access to specific entrepreneurship courses beyond the regular curriculum, access to specialists in other fields, and funding. Roughly an equal number of alumni report having access to dedicated work spaces.
Business network and partners
One more resource some entrepreneur alumni found on campus: a business partner. Overall, about 12.5% of business school alumni who started their own business partnered with a business school classmate. If you are among the growing number of prospective business school students interested in launching your own business, a great place to start your school search is using tools such as GMAC’s Find and Compare and PrepAdviser’s School Finder. Once you have narrowed your list of schools, reach out to each admissions office and ask them what courses and resources they offer aspiring entrepreneurs. Then pick the business school that you believe will best help you start your own company.