Today’s Students Want To Be Entrepreneurs

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A revolution is taking place in universities-students no longer become as keen to become lawyers, bankers and management consultants as they used to be. They want to be founders.

Now, a quarter of British students run or plan to start a company during college. Their total revenue in 2019 reached 1 billion pounds; an increase of 32% compared to 2016.

Today, many universities have accelerators, incubators and other programs to encourage and support technology startups. Ana Bakshi, director of the Oxford Foundry Institute at the University of Oxford Entrepreneurship Center, recently called for greater efforts to stimulate the UK's economic recovery.

This is what the Creator Fund (the first venture capital in Europe solely focused on supporting university entrepreneurs) can lag behind.

Today, it released its first "Student Entrepreneurship Status" report, which details what the British student founders are doing.

The headline findings are encouraging; there are more start-up teams established in universities than average, more widespread in the UK, and are particularly interested in innovations ...
... in healthcare and food technology. We all know that the world needs more.

But in the past 8 months, the "student investor" team of the founding fund has met with more than 800 startup companies from 94 universities, and they found that student entrepreneurs may be too focused.

The report said: "A common theme here is that students focus on their needs and experiences rather than consider solutions to the problems faced by the broader consumer." Many student founders are engaged in the tutoring market, student housing , Student social media platforms and "job search assistant" applications.

They are also obsessed with artificial intelligence. "Another [theme] is the promise of artificial intelligence to solve everything without substantive proof of its effectiveness."

However, this did not delay funding from the Creators Foundation. So far, this venture capital company has received investment from four companies. It will complete two other transactions in September and will expand its network to include Dundee, Durham, Birmingham, Cardiff, Southampton and Queen's University Belfast.

It also has "ground students" in Stockholm and Paris. The team said: "Our vision is to be the best partner for all students who want to establish a company in Europe," the team is currently raising more investments.

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