Engineers are known for their innovative minds and great ideas through which they work for serving the world. Engineering is an exciting career which is full of opportunities and challenges, these qualities help them in inventing the future by developing breakthrough technologies that solve global problems and enhance the quality of life. Read on to know in detail how the entrepreneurial mindset of these graduates helps them in the future.
Entrepreneurship is a very important part life of all engineers. This country’s economic engine over time has been technology. Technology has driven the creation of wealth in this country, which then creates jobs, and with those, the high standard of living we enjoy as Americans. If you look at where those jobs were created, it’s surprising to me that they were not created by large corporations; they’ve been primarily created by companies that have been built by entrepreneurs. The number of corporate executives and leaders who hold engineering degrees is overwhelming. Many people come from the technical side, create these companies to develop their products, which leads to jobs, which in turn lead to a better standard of living for everyone. So I think our capital of the future will continue to be technology.
Instilling an entrepreneurial mindset in undergraduate engineers is essential if we want our bright young talent to innovate and then productize those innovations to better mankind. Tuition at top engineering schools is close to $200,000. For that, we, the American people get the best minds and the best ideas. But not all ideas from engineering students make it into the real world. In fact, most ideas never make it past the class deadline. Prototypes, solutions, disruptions sit on the shelf because they were designed for an engineering class not as a potential business venture. How to solve that is to integrate entrepreneurship into the fabric of the engineering program.
It is no longer enough to come out of school with a purely technical education; engineers need to be entrepreneurial in order to understand and contribute in the context of market and business pressures. For engineers who start companies soon after graduation, entrepreneurship education gives them solid experience in product design and development, prototyping, technology trends, and market analysis (Nelson and Byers 2010). These skills are just as relevant for success in established enterprises as they are in start ups; students with entrepreneurial training who join established firms are better prepared to become effective team members and managers and can better support their employers as innovators.
Entrepreneurship education teaches engineering students in all disciplines the knowledge, tools, and attitudes that are required to identify opportunities and bring them to life. Students who take part in entrepreneurship programs as undergraduates gain insights not available from traditional engineering education, such as understanding and designing for end users (“empathy”), working in and managing interdisciplinary teams, communicating effectively, thinking critically, understanding business basics, and solving open-ended problems. So, it’s very important that entrepreneurial training should be given to these students.