There is no secret that many students started or have the intention to start their own startups during studying. The university is the place where students gather more information, develop and improve their skills and knowledge. Besides, students are continuously exposed to all kinds of information, and a business idea can pop up in their heads at any time.
Bill Gates or Mark Zuckerberg are just a few of the many examples of students that unleashed their creativity and followed their dreams. Starting your own business as a youngster might be considered a bad idea by some. However, during university, students might feel the most courageous. So, which are the main reasons that make students start their own startups or IT business?
One of the main reasons that create the perfect environment for students to start their own startups at university is the startup accelerator. Many universities have identified the entrepreneur potential in younger generations.
These programs designed by universities aim to bring together students that have a business idea with mentors and professionals from the startup domain. This allows students to get more information on how startups are founded and work. At the same time, they have access to domain insights that help them shape their ideas better. Having someone to support you and your ideas encourages students to start their own businesses at university.
Many professors choose to be mentors for their students. This gives students an advantage, as professors who are mentors can offer access to unlimited resources. Moreover, they already know a lot of insights into the startup world that can help students shape their own.
Student years are full of activities and assignments. However, if some students love watching movies in their free time, others aim to use them to start their own startups. If you do not have a part-time job at university, you have plenty of time to implement your ideas.
While some students decide to drop out of university to start their own businesses, others decide to continue their studies. Managing your own business takes a lot of time and resources, so there is less time left for studying. While this will be challenging but not impossible, students can use modern tools like the plagiarism checker or ASA format citation generator by Edubirdie to help them save time. Writing your essay will take you less time, so you have more for your business.
University is not only about assignments, essays, or lectures but about friendship too. At university, you meet a lot of people, some of which will be your friends for life. It is a common thing to start a startup with some of your colleagues. Usually, those who have the same hobbies, the same needs, passions, and goals team up to create their business.
At university students meet their partners. And because a partnership is similar to a marriage, students that are friends spend a lot of time together. The more time they spend together, not only in a working setting, the more they get to know each other. This is very important, especially in the case of a partnership, where conflicts and misunderstandings can appear.
No Financial Risk
Students live on a budget during university so they have no money to lose. Of course, financial risks exist in every business or startup. And losing what you have already invested can be disappointing and demotivating.
However, students live mostly carefree, as they do not have to pay the mortgage for a car or a house. Moreover, most students do not have a family or children they need to take care of. So, it means that they have more freedom to invest their money and start their own startup.
We see more and more startups that have been founded at universities. College years are full of challenges, and one of them is balancing personal and academic lives. Some students decide to use their free time to start their own businesses.
They also benefit from many startup accelerators or mentorship programs developed by the university. This allows them to have access to unlimited resources, and domain insights, but also mentorship from professors. Students start their own startups at university because they have already met their partners, and have more time to invest and less time to lose.
Author Bio: Jeremy Raynold is a content writer that supports students. He loves writing about technology, productivity, and finances. Jeremy plans to start a writing accelerator to help students improve their writing skills.