Fewer Entrepreneurs

Defence Minister Teo Chee Hean spoke on the topic of higher education versus entrepreneurship at the Entrepreneur of the Year 2007 Award Presentation Ceremony a few days ago.

He asked "Will providing more places in higher education mean less entrepreneurship?"

We all know it's a tough one to answer, but anecdotal evidence suggests that the more educated a person is, the more likely he'll work for others, i.e. he's less likely to venture out on his own and be his own boss.

The minister mentioned 2 possible reasons for this:

- Non-graduates are "more hungry" (which is to say university graduates are less hungry conversely). Since the corporate path is less open to them, non-graduates are more willing to take on risks and venture out. They have "less to lose".
- The university education prepares the future graduate to have a "structured way of thinking." When he graduates, he's more suited for the corporate life, and "be part of a system" or "cog in a machine."

The minister's speech is archived by NHB and is available online here. Mr Chan Chong Beng of Goodrich Global got the top trophy of Entrepreneur of the Year 2007.

See also my advice for non-elite poly students.

http://www.salary.sg/2007/fewer-entrepreneurs/

I agree with the statement" Non-graduates are 'more hungry' (which is to say university graduates are less hungry conversely). Since the corporate path is less open to them, non-graduates are more willing to take on risks and venture out. They have 'less to lose'. "

Hiding in a cave with shelter , how will I go out into the jungle ? Until I wait for a lion to chase me out like retrenchment , if not I will be forever in the cave.

If I am the one going for french cooking classes, I definitely be less hungry.

[bjhchong]

I don't know if it's just me...

I notice that many of what you call the arts career, sports career, & those far out "don't think can make a living" wild careers are typically taken by people who came from parents who are rather well-to-do... Maybe I am wrong, can someone disprove my hypothesis?

That aside, if a survey/analysis is conducted on the correlation of "hunger" (in terms of how overpowering is the need to get out of perceived "poverty") & entrepreneurship... I think the evidence will support our argument here...

Originally Posted by bjhchong

I don't know if it's just me...

I notice that many of what you call the arts career, sports career, & those far out "don't think can make a living" wild careers are typically taken by people who came from parents who are rather well-to-do... Maybe I am wrong, can someone disprove my hypothesis?

That aside, if a survey/analysis is conducted on the correlation of "hunger" (in terms of how overpowering is the need to get out of perceived "poverty") & entrepreneurship... I think the evidence will support our argument here...

Yes agreed. Just look at the theatre people - many of them come from well to do families. In the music industry, you have Dick Lee (though I think quite rare).

Some rich parents also "sponsor" a shop (eg Far East Plaza) for their kids to start their "fashion venture".