5 Reasons Why You Should Start Your Startup At University

Increasingly, universities now offer incubators, accelerators and other startup mentoring programmes to their students. The main reason is simple: students have the time and energy to invest 100% into the formulation and realisation of their ideas.

#1 Little Financial Risk

This is not to say that there is no financial risk involved in starting your business at university. However you’re most likely to already live quite frugally and are not deterred by the thought of living off ramen noodles and spaghetti hoops for a while. University students are rather unlikely to have a mortgage, a car or a family for which they need to provide financially. In addition, not having any cash means bootstrapping and staying with the essentials – you can always upgrade later.

#2 Lots Of Time To Invest In Your Startup

Where other students spend their leisure time watching films and sitting in pubs, you will have lots of free time to invest in your startup. Many graduates find it extremely difficult to start a new business while working their first, second or third jobs. There is no better time than at university, where you can schedule your time very freely around lectures and seminars. Use it wisely!

#3 Mentorship From Professors

A definite advantage at university are the endless resources at your disposal. This does not only include the library and countless online resources only open to students, but also mentorship by professors. If they like your idea, they may introduce you to relevant partners and potential investors in addition to sharing their knowledge. This is a valuable resource of yours compared to other startups.

#4 Meet Your Future Co-Founder / Team

Just like Mark Zuckerberg, you have the great opportunity to find your co-founder and your team at university, saving you money and time. More often than not, successful co-founders did indeed meet at university (see Minaal). Since a business partnership is like a marriage, having worked, lived and/or travelled with that person certainly gives you a good perspective on their life and work ethic. Alternatively you can also try platforms specialising in bringing potential co-founders together.

#5 Courses & Programmes Offered By Universities

Universities are interested in their students’ entrepreneurial spirit and wish to foster new ideas. In addition to career centres, many universities now offer incubators and other tools. And it doesn’t stop there – some university offer courses like Entrepreneurship and Innovation courses and extracurriculars. This is to foster their students’ ideas and innovation. On top of it all, there are thousands of organisations aimed at providing students with courses and support in starting your own business.

 

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