Education has a transformative effect. Without entrepreneurial education, there are no entrepreneurs. Even born entrepreneurs need new information and knowledge (all the time). Entrepreneurship is not an intuitive thing, even though intuition is an important issue during business activities, especially in the decision-making process. Many of today’s successful entrepreneurs attribute their success to their intuition. Bill Gates says for example, "you cannot ignore your intuition." At the same time, theory is an essential component of the learning process. Without accumulated, abstract general knowledge, learning would be slow, difficult, and ineffective. This is especially true for university-level education, where a correctly chosen theory is the building block of teaching. Among other things, entrepreneurial theories help us better understand entrepreneurial behaviours. Entrepreneurial theories also help us understand why some people have greater entrepreneurial inclination than others. Macroeconomic research makes it clear that there is a need for entrepreneurship and activity, as this is how companies are created that provide work and a living for employees. But even sole proprietorships are valuable participants in value creation.
Universities can affect students’ entrepreneurial ambitions positively. On the one hand, the increasing number of universities with business and management programmes reflects the growing level of entrepreneurial ambition among students. On the other hand, there are visible differences in terms of the proportion of male to female founding students. Based on the peer-mentoring method, action-based research was carried out with a sample of 20 female students aimed at examining whether and how formal mentorship can stimulate female students’ entrepreneurial ambitions. In the findings, further explanations are provided that highlight the need for mentorship in influencing learning outcomes and entrepreneurial propensity, alongside its integration into higher education. The results indicate that priority support plays an important role in the early stage of entrepreneurial ideas, in which trust is created through openness, motivation, and commitment. These results provide sufficient evidence for mentoring programmes as viable pedagogical methods in entrepreneurship education.
Socio-economic transition in the CEE (Central and Eastern Europe) region in recent decades forms the operating context for young entrepreneurial ecosystems. This study has the aim of analysing institutional and cognitive features of CEE ecosystem development by considering Budapest as a prime example of an urban entrepreneurial ecosystem. Alongside the analysis of event registration data, a qualitative research approach is deployed featuring semistructured interviews with entrepreneurs and other institutional actors attending a networking event in Budapest. The methodological foundation for this approach is adapted from Triple Helix ecosystem theory. A conceptual model is produced from the research process, and ecosystem theory is developed by accounting for dynamic human capital flows and social capital ties do not present in the original Triple Helix theory. Results primarily indicate moderate levels of asset values and that attendance by entrepreneurs is largely motivated by locating start-up funding. Prime outcomes of interviews are a lack of innovation-focused specific human capital and increasingly market-based means of social capital development. Furthermore, the findings presented as propositions assume a partial virtual nature for human capital flows and social capital ties between ecosystem actors. On this basis, the resulting conceptual model accounts for the presence of digitalisation. Thus, ongoing entrepreneurial ecosystem development entails continual institutional adaption to information technologydriven socio-economic conditions. The Budapest ecosystem would, however, need to acquire a stronger virtual aspect in order to realise greater growth potential. Implications for Central European audience: While research on entrepreneurial ecosystems has gained strength, it has barely been applied to the CEE region. This study represents a formative attempt in this regard whereby the resulting conceptual model may be used to empirically evaluate entrepreneurial ecosystems within the region by comparing specific internal and external human and social capital movements. The model primarily implies that digitally derived human and social capital would require deeper integration between start-up firms and institutional actors. Crucially, there is also an implicit need for institutions to develop digitalised infrastructure more intensively in order to nurture innovative start-up activity in the CEE region.
Loretta Huszák interviewed Nikolett Deutsch, Head of the Institute of Entrepreneurship and Innovation at Corvinus University of Budapest. The interview focused on the role of business culture in economic development, as several international competitions, including the Danube Cup, have proven the importance of soft skills for the success of entrepreneurs. It can be argued that overcoming a country's economic backwardness depends on the development of business culture.
ogy R&D, which is followed by a comparison of the US and Europe, describing the economic significance and development trends of this subsector. Even though the biotechnology sector is still stronger in the US, this industry is on the rise in Europe as well. While in the US companies use venture capital and are typically listed, in Europe public funding and SMEs are dominant so far, and the focus is on basic research. The study then analyses Hungarian companies with R&D activities in biotechnology in detail. The subsector is still fragmented; the 355 companies with activities that suit a wider definition of biotechnology R&D only employ a few hundred people. The data clearly show that still predominantly micro and small enterprises are engaged in R&D activities in biotechnology. These companies have a moderate turnover and were typically established to perform research as an ancillary activity. Roughly 25% of enterprises in the subsector are start-ups and only 13% are mature companies. The study also covers the innovation output of Hungarian biotech companies, i.e. the innovations themselves. Over the past 10 years, Hungarian biotech companies have not become more active in obtaining industrial property right protection. However, the biotech R&D sector is definitely IP active as compared to other industries in Hungary. Some companies obtained protection for their innovative research results, so these are successful in terms of the innovative output of their activities. These companies work mostly in red biotechnology. Unfortunately, their share in the Hungarian biotechnology R&D subsector is less than 6%.
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