Authors in previous studies pointed out that the professional competences of managers overlap with the competences and skills that are attributed to entrepreneurs. The goal of this study is to analyze the correlation between the actual market demand for competences to develop new businesses and the competence of training and development by higher education institutions (HEIs) and business supporting institutions (BSIs). The research question is “Are the entrepreneurial competences demanded by the domestic markets in Finland, Latvia and The Netherlands aligned with the entrepreneurship educational and business supporting policies?” As a research methodology, we chose focus groups and semi-structured interviews conducted for start-up entrepreneurs, HEIs, and BSIs as methods for data gathering. An importance–performance analysis (IPA) was applied as the method for data analysis. As the main research results, the authors identified that ethical and sustainable thinking as well financial and economic literacy were considered to be the least important competences, while motivation and perseverance were commonly ranked as highly important by entrepreneurs in all the countries studied. Entrepreneurship education policy in The Netherlands is fully harmonized with market demand. Entrepreneurship development activities in Finland also meet the market’s needs, however HEIs and BSIs could develop self-awareness and self-efficacy as well as cope with uncertainty, ambiguity and risk competences. The major disagreement was detected between entrepreneurs’ expectations and entrepreneurship education activities conducted by HEIs and BSIs in Latvia. This research implication fills the gap in knowledge about the entrepreneurial competences developed by HEIs and BSIs and were demanded (considered as important) by the market in the researched countries. Further, we developed the entrepreneurship training methodology for transdisciplinary students to enhance entrepreneurial competence dissemination and development across education programs and beyond.

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Over a 6-year period, a collaboration has been developed between a group in Cambridge, UK, and two Latvian Universities, Stockholm School of Economics in Riga and other organisations, including Riga City Council, supported by the British Embassy Riga and the Latvian Embassy in London, enabling structured processes to be developed to identify aspiring entrepreneurs based in Latvia and Estonia and provide education, coaching, mentoring and encouragement first in the home territory, leading to an intense whole-week development venture camp in Cambridge for selected candidates. The programme was extended to provide ongoing business development support for a number of entrepreneurial companies with global potential, and the developing venture camp activities attracted, supported and helped accelerate the evolution in Riga of an innovative ecosystem providing leadership in the Baltics. Practical examples of cross-border knowledge and technology transfers have been recorded as part of the Cambridge–Riga Venture Camp process. This report presents the development, content and outcomes of this innovative project aimed at supporting the emergence of entrepreneurial and innovative capabilities of Latvian delegates to the project. Detailed appendices including data and narrative based survey of outcomes and assessments containing structured feedback from delegates participating in the 2020 Cambridge-Riga Venture Camp are available as the Supplementary material online. This is an interim report, since the activity is ongoing and continuously developing.

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