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How an MBA can empower entrepreneurs
New INSEAD survey reveals that an MBA boosts entrepreneurial success
FONTAINEBLEAU, France and SINGAPORE and ABU DHABI, UAE, Oct. 2, 2024 /PRNewswire/ — A recent INSEAD survey shows that going to business school can improve the chances of long-term entrepreneurial success.
According to the INSEAD Alumni Entrepreneurship Report 2024, 73 percent of the INSEAD students and graduates surveyed pursued entrepreneurial activities post-graduation. Over 17 percent of ventures are large-scale organisations employing over 100 people. When INSEAD alumni take over existing firms, 30 percent achieved first-year growth of at least 11 percent.
The report suggests that an MBA education inspires individuals to actively pursue entrepreneurship. Respondents reported that 86 percent of their new ventures and 75 percent of corporate entrepreneurship efforts were initiated during or after their education at INSEAD. Additionally, two-thirds have explored more than one venture, with each graduate founding an average of 3.5 ventures.
Not only budding founders recognise the value of an MBA –43 percent of respondents were already entrepreneurs before enrolling at INSEAD. This means that experienced entrepreneurs believed that an MBA education would enhance their skills and knowledge.
Professor Henrich Greve, Academic Director of the Rudolf and Valerie Maag INSEAD Centre for Entrepreneurship, said, “Our survey shows that INSEAD alumni are accomplished entrepreneurs across the board. They are forming new ventures and improving old ones. Through that, they’re creating growth, value and added employment both in their own ventures and in family businesses and traditional corporations.”
The survey also revealed an important and growing trend of INSEAD graduates in incorporating social missions into new ventures. A total of 33 percent of new ventures founded 1 to 15 years ago have a social mission focusing on sustainability and healthcare.
Additionally, a quarter of respondents had engaged in business acquisitions; with nearly half experiencing revenue growth of 11 percent or greater in their first year of operation. 80 percent are still active today, indicating a high success rate.
“These results really underscore the value of a business education in helping prepare entrepreneurs for the challenges and opportunities that they must face in today’s volatile world,” said Francisco Veloso, Dean of INSEAD. “Here at INSEAD, we believe it is our role to provide our students with the tools, instruments, understanding and knowledge needed to make that positive difference in society.”
Access the INSEAD Alumni Entrepreneurship Report 2024 and find out more in this INSEAD Knowledge article.
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