4 Reasons Universities Are the Best Place to Start Your Own Business
People love referring to the famous college dropouts of our time. Steve Jobs, Bill Gates, and Mark Zuckerberg are some of the most prominent examples. Based on these many deem university a waste of time and talent.
But this is simply not true.
Due to our confirmation bias, we only hear about the billionaire dropouts, and so we feed our perception that success does not need higher education. Although the statistics paint another picture.
The statistics say different
The stats tell us that most successful startup founders in fact went to college, and completed their degrees. This is not to say that university is necessary for success. It simply dispels the myth that, if you’re good enough, there’s little to gain from getting a degree.
Despite the bad press it has been getting lately there is still a lot to gain if you wish to go it on your own.
For these reasons and more, university is the best place to found a startup:
1. Nothing is holding students back
People have the tendency to lose some of their earlier ambition as they get older. There are a few good reasons for this. They may have families to feed and less resources to spare. They may feel pressure to “do something practical”.
Students, however, are at that stage of their lives when everything is possible. They have few external responsibilities, their resources are theirs to spend, and they’re not yet jaded by the difficulties of work.
For a successful startup, you need less obstacles and more commitment. In a university environment you have both.
2. You’re surrounded by experts
Not only are highly qualified professors and academics available to source great advice and useful information. There are also lots of students who made so far because of their incredibly high potential. Just because they are not proven by certificates, work experience and accolades doesn’t mean they are not as resourceful.
By looking in the right places, you’ll be spoiled for choice.
3. Students take risks
Sometimes this is due to immaturity, or irresponsibility. That’s more often than not how curmudgeonly elders see it. Startups are risky by nature particularly in this competitive climate and you need people willing to ride that rocky road with you.
4. Supportive environment
The university environment is often one of high support. Peers, tutors, societies alike who aren’t involved in your endeavours will still be excited to see you succeed. You cannot underestimate the sense of community pride within university campuses.
Perhaps more importantly, professors and other staff are interested in your success. It fills them with a sense of purpose to have the opportunity to “mentor” you, and thus be indirectly involved.
We can testify to it
Having started Blocks Wearables while at Imperial College, we can see clearly how valuable — vital even — the associated benefits were. All around us were experts who we worked with to build the perfect smartwatch.
There are many skills we would have lacked if we’d begun on the outside. Not only that, but there are ideas we alone would not have thought of. The diversity of thought, culture, and personalities, helped us find the most important and useful components to make use of in our modular smartwatch.
Take a look at your local university, to see what innovations are being brought to life.