Registration for the CEPR workshops now open

The joint workshops on the Economics of Entrepreneurship and Incentives, Management and Organisation will take place from the 7th to the 9th of September 2017.

The joint workshop on the morning of Friday 8th September will include keynote speeches by:
Edward Lazear (Stanford Graduate School of Business)
Luigi Zingales (University of Chicago, Booth School of Business and CEPR)

We hope that many researchers will be able to join both parts of the event, which will be hosted by University of Copenhagen and Copenhagen Business School. The schedule of the workshops will be as follows:
Thursday 7th September – Incentives, Management and Organisation Workshop
Friday 8th September AM – Joint workshop on Entrepreneurship and Organisation
Friday 8th September PM and Saturday 9th September AM – Entrepreneurship Workshop

Registration is free. Find out more: https://sf.cbs.dk/ceprworkshops

Round table discussion at DEA: Education in innovative entrepreneurship – What is the role of universities?

Entrepreneurs play a significant role in the Danish economy. They sow the seeds of future jobs and solutions for the grand societal challenges of our time. However, creating more entrepreneurs is no guarantee of strengthening the national economy, according to a new review of the research literature.Most entrepreneurs do not employ personnel, are home-based, and earn low incomes (1).

Most new jobs and economic growth are generated by a small number of innovative, high-growth ventures. According to research, innovative entrepreneurship is different from other forms of entrepreneurship and requires different skills. But which skills are needed to succeed as an entrepreneur in an innovative start-up?

Politically, the Danish government has focused on entrepreneurship initiatives since 2002, increasingly stressing the need for exposing more students to entrepreneurship through the university education (2). But how and to what extent can universities be effective in building these skills?

DEA and the Mærsk Mc-Kinney Møller Chair in Entrepreneurship will host a roundtable discussion on the skills needed to succeed as an innovative entrepreneur, and the role of Danish universities in educating future generations of innovative entrepreneurs. In other words, the roundtable will focus on innovative entrepreneurs with a university degree.

The aim of the roundtable discussion is to provide DEA (3) with input to further qualify the public debate on strengthening the skills of the innovative entrepreneur. The roundtable discussion is prompted by the recent literature review on innovative entrepreneurs by J. Block, C. Fisch, and C. Mirjam van Praag. The discussion will be opened by a short introduction on what we know about university education in innovative entrepreneurship by Professor Mirjam van Praag, Maersk Mc-Kinney Møller Professor of Entrepreneurship at Copenhagen Business School.

The roundtable discussion will be held in English and take place on March 9 from 14.00-17.00, at Fiolstræde 44, room 4C, 1171 København K.

Participants in the roundtable discussion
1. Mærsk Mc-Kinney Møller Professor of Entrepreneurship at Copenhagen Business School, Mirjam van Praag
2. Søren Nedergaard, Head of Division, Danish Agency for Higher Education
3. Pernille Berg, Head of Research, Analysis & Higher Education, The Danish  Foundation for Entrepreneurship

Innovative entrepreneurs
4. Matias Møl Dalsgaard, PhD, CEO/Co-Founder of GoMore
5. Jon Friis, Founder & Innovation Manager of Miiskin
6. Rune Schostag Nielsen, COO and Co-founder at Volt ApS
7. Jonas Nilsen, Founder and CEO at Vaccination Europe ApS

University representatives engaged in entrepreneurship for students
8. Alan Irwin, Professor, Vice-president of Entrepreneurship & Innovation, Copenhagen Business School
9. Anne Sofie Dahlmann Breindahl, Project manager, AU Research Support and External Relations, Aarhus University
10. Carsten Nico Portefée Hjortsø, Associate Professor, project manager for Innovation and Entrepreneurship at UCPH, University of Copenhagen
11. Morten Dahlgaard, Senior Consultant, AAU Innovation & Research Support, SEA

(1) Joern H. Block, Christian O. Fisch, and Mirjam van Praag, “The Schumpeterian Entrepreneur: A Review of the Empirical Evidence on the Antecedents, Behaviour and Consequences of Innovative Entrepreneurship,” Industry and Innovation, August 9, 2016, 1–35, doi:10.1080/13662716.2016.1216397.
(2) DEA, “Entreprenørskab På Universiteterne – Fra Vision Til Hverdag,” 2014, http://dea.nu/sites/dea.nu/files/dea_-_entreprenoerskab_paa_universiteterne_-_fra_vision_til_hverdag_2014.pdf.
(3) Learn more about the Think Tank DEA: http://dea.nu/taenketanken-dea/the-think-tank-dea

Education in innovative entrepreneurship

– What does research tell us?

One often hears that entrepreneurs do not benefit from education. Innovative and successful entrepreneurship would rather require skills, such as creativity and perseverance, that one can learn in practice rather than in school. Drop-out entrepreneurs, such as Bill Gates, Ingvar Kamprad and Steve Jobs are great examples of this proposition. Given this common belief, it is rather surprising that many Western countries, including Denmark, invest vast and steeply increasing amounts in entrepreneurship education. What is wisdom here?

To address this question, research has been undertaken answering the following questions: Is (successful) entrepreneurship something one can learn or is it a genetic matter? In other words, is entrepreneurship success caused by nurture or nature? Studies using twins and adopted children can be used to address this question and show that entrepreneurship is certainly not only a genetic matter: nurture plays a twice as important role.

The follow-up question then is: Can entrepreneurship be learned through formal education? The answer is yes, as research shows: Entrepreneurs benefit a lot from their education, even more than employees. The important aspects one learns in school are, among others, analytical skills and technical skills. However, the largest part of the effect of education in general on entrepreneurship outcomes is yet unexplained and kept in a black box.

The third question that has been addressed by research is: Does specific entrepreneur education add value to teaching relevant knowledge, skills and attitudes to potential entrepreneurs? As it turns out, so far, the effects of entrepreneurship education programs have been scarcely tested in credible ways. Existing evaluation studies show disappointing effects. However, in particular, entrepreneurship education at a very young age contributes to relevant skill development, such as perseverance, motivating skills and creativity. We conclude that education can certainly be a valuable manner in which entrepreneurship skills are obtained. However, the optimal design of entrepreneurship education programs at a later age still needs to be determined.

Based on the following articles
Lindquist, M., Sol, J. & van Praag, C.M. (2015), Why do Entrepreneurial Parents have Entrepreneurial Children?  Journal of Labor Economics,  Vol. 33, No. 2, 4.2015, pp. 269-296

Rosendahl Huber, L., Sloof, R. & van Praag, C.M. (2014), The Effect of Early Entrepreneurship Education: Evidence from a Field Experiment  The European Economic Review, Vol. 72, 11.2014, pp. 76-97

Van Praag, C.M., van der Sluis, J. & van Witteloostuijn, A. (2012), The Higher Returns to Formal Education for Entrepreneurs versus Employees  Small Business Economics, 40, pp. 375-396

Hartog, J., van Praag, C.M. & van der Sluis, J. (2010), If you are so smart, why aren’t you an entrepreneur? Returns to cognitive and social ability: entrepreneurs versus employees   Journal of Economics and Management Strategy, 19 (4), pp. 947-989

Oosterbeek, H., van Praag, C.M. & Ysselstein, A. (2010), The impact of entrepreneurship education on entrepreneurship skills and motivation   The European Economic Review,  54 (3), pp. 442-454

Van Praag, C.M., van Der Sluis, J. & Vijverberg, W. (2008), Education and Entrepreneurship selection and performance: a review of the empirical literature  Journal of Economic Surveys, 22 (5), pp. 795-841

Parker, S. & van Praag, C.M. (2006), Schooling, capital constraints and entrepreneurial performance: The endogenous triangle  Journal of Business and Economic Statistics, 24 (4), pp. 416-431

How to behave as an entrepreneur

At the annual CBS Entrepreneurial Day 29 September, Mirjam van Praag gave a talk together with real life entrepreneur Arko van Brakel on how to behave as an entrepreneur. You can see the full talk here.

CSE Entrepreneurial Day 2016

On Thursday 29 September the Copenhagen School of Entrepreneurship is hosting the annual Entrepreneurship Day. An interesting program has been put together including a talk by Mirjam van Praag together with Arko van Brakel.

Read more about the event on their website: http://cse.cbs.dk/entrepreneurial-day/program/

Ivory Tower and Entrepreneurship

In order to answer the question ‘Are universities, often perceived as ivory towers, a right place for prospective entrepreneurs to learn and grow?,’ INO researchers Toke Reichstein and Jing Chen have made an analysis based on data from Statistics Denmark to find out how many university graduates actually become entrepreneurs.

You can read what they have found out in the article in the CBS Observer: http://cbsobserver.dk/ivory-tower-and-entrepreneurship-0

 

Should I Stay or Should I Go?

Prof. Toke Reichstein is the designated speaker at the spring 2016 “From PhD to ABC” event held at Copenhagen School of Entrepreneurship and  co-organized with the CBS Entrepreneurship BiS Platform. These events offers a forum in which researchers translate some of their research results into tangible information that can help students or others make better choices in business or in terms of personal career choices. These events foremost centers on entrepreneurship research.

Abstract: Entrepreneurs often face decisions that are both difficult and challenging. Two of the most major decisions regards A) whether to establish a new venture and B) whether to close down the newly started venture if things are not going as planned.

Recent research partly carried out at CBS sheds new light on these decisions. Virgilio Failla (LMU), Francesca Melillo (KU Leuven) and Toke Reichstein (CBS) have scrutinised Danish labor market data to understand when and why entrepreneurs start their own business and why they persist relatively long in the entrepreneurial career.

These findings have major implications for understanding the entrepreneurial choice and the survival of new businesses. And they give entrepreneurs some understanding of when to even consider becoming an entrepreneur and why they sometimes prolong their ventures even when they should close them down.

Date: 19 May 2016

Time:15:00-17:00

Place: CSE, Porcelænshaven 26, 2000, Frederiksberg, Denmark

Speaker: Prof. Toke Reichstein (INO, CBS)

Organizers: CBS Entrepreneurship BiS Platform and Copenhagen School of Entrepreneurship

Sign up: https://www.facebook.com/events/1558993641061040/

Toke Reichstein at Novo Nordisk Innovation In Action case competition

Novo Nordisk organize a yearly case competition in which a heterogeneous group of individuals are grouped into 8 teams of 6 individuals and are asked to tackle one of Novo Nordisk pressing challenges. The heterogeneity among team members provides a vibrant atmosphere and a dynamic environment with lots of discussions a on potential solutions to the case posed. This year the topic of the challenges regards a pharmacological solution to the health risk of obesity. Participants are asked to reconsider how we think about obesity and come up with a solution on how to convince medical doctors to treat obesity pharmacologically. This year, Prof. toke Reichstein participates as a member of a panel that guides the students through the process of coming up with solutions.