NYU Researchers Show that Education Primes the Pipeline of Innovative Entrepreneurs

      A team of NYU researchers recently reported on the first phase of their study on effective approaches to the training of innovative entrepreneurs, who aim to use new methods to produce or deliver existing goods and services at a lower cost.
     Funded through a challenge grant from the Ewing Marion Kauffman Foundation, the research is under the direction of management professor Batia Wiesenfeld and statistics professor Jeffrey Simonoff of the Stern School of Business, as well as professor Matt Mayhew and post-doctoral fellow Laurie Behringer of the Steinhardt School of Culture, Education, and Human Development, with oversight from professor of entrepreneurship William Baumol, academic director of Stern’s Berkley Center for Entrepreneurship and Innovation.
     Polling more than 5,500 students and alumni from both graduate and undergraduate business schools at five universities, the researchers examined the link between educational experiences and innovative entrepreneurial activities, such as applying for patents, developing new products or services, or constructing new methods of production or service. Preliminary results show that students who take entrepreneurial courses are more likely to launch, run, or be employed by a start-up company; students who take entrepreneurial courses are more innovative; and faculty can pursue activities that may ultimately foster innovative entrepreneurial activity in students following graduation.
     “The preparation of a strong cadre of capable, innovative entrepreneurs is critical to the repair and future prosperity of our economy,” explains Baumol. “And these findings will undoubtedly contribute to the effectiveness of the education of innovative entrepreneurs in the future.”