What individual, social or university-specific factors make students into founders of companies? And how do students give voice to their entrepreneurial aspirations? These questions have been addressed by an international research project in partnership with the University of Liechtenstein, in which the young university has for the fourth time in succession achieved a place among the best five nations worldwide.
What individual, social or university-specific factors make students into founders of companies? And how do students give voice to their entrepreneurial aspirations? These questions have been addressed by an international research project in partnership with the University of Liechtenstein, in which the young university has for the fourth time in succession achieved a place among the best five nations worldwide.
More than 100,000 students from 43 different countries took part in the survey, including over 200 from the University of Liechtenstein. The year 2013 was the fourth time the survey had been carried out in Liechtenstein, and the Principality was able to live up to its excellent past record in the years 2006, 2008 and 2011. The conclusion is that the University of Liechtenstein achieves results well above the international average, and also does better than other German-speaking countries.
Global University Entrepreneurial Spirit Students' Survey 2013
Going for independence after five years
Immediately on conclusion of their studies, 85 percent of students are first of all inclined to go for a conventional job. But the pattern changes five years later. While just nine percent of students aim to set up their own business directly after they finish studying, five years later the ratio of self-employed persons and independent entrepreneurs rises to 41 percent. This finding confirms the results for the University of Liechtenstein in the earlier surveys. All the surveys have shown that five years after completing a course of university study, setting up a company is the preferred career path for former students.
New companies founded by students
Students were also asked about any businesses they had already set up. Here again the University of Liechtenstein achieved a place at the top. Something like 14 percent of students enrolled at the university have founded a company before completing their studies. On average they give employment to 14 persons, so swelling the ranks of employers and managers in the region while they are still students.
Entrepreneurship study at the University of Liechtenstein: Liechtenstein achieves a top place for the fourth time in succession
A favourable atmosphere for entrepreneurship
The better-than-average results of the University of Liechtenstein could have various causes. One possible reason may be the range of courses offered at the university, which have a strong emphasis on entrepreneurship. The University of Liechtenstein places a strategic emphasis on entrepreneurship, and applies its philosophy in practice. This also shows in the number of courses and conferences on the subject.
A further reason may be seen in the atmosphere of the university, which is favourable to the foundation of new businesses. At the University of Liechtenstein and its associated institutes students can find reliable sponsors and supporters for their business ventures, as well as partners willing to go into business with them. This business-friendly climate receives positive support from the courses and activities the university offers.
In the end the University of Liechtenstein has built up a reputation, at both regional and international level, which holds particular appeal for students interested in founding new businesses and draws them to Liechtenstein. So the University of Liechtenstein acts as a magnet to students who want to make their visions and dreams come true.
The country report for Liechtenstein, the international report and further information about the survey may be found online at www.guesssurvey.org.