Encouraging Innovation
Burton D. Morgan Foundation supports entrepreneurship education for young students, as well as adult learners. Entrepreneurship education provides valuable learning experiences that cultivate essential skills, mindsets, and perspectives for learners and innovators of all stages.
Youth
For K-12 students, entrepreneurship education and experiences spark creativity, critical thinking, and problem-solving abilities early on. It instills an entrepreneurial mindset that encourages innovation, risk-taking, and resilience, laying the groundwork for future leaders and job creators. Introducing entrepreneurial concepts at an early age nurtures a culture of initiative and self-reliance, empowering young minds to explore their potential and consider diverse career paths. While there are enterprising K-12 youth who can and do build viable businesses, the main focus of Morgan Foundation’s work in youth entrepreneurship is on building entrepreneurial mindsets and skillsets to prepare students to navigate complex paths in an unpredictable future.
Entrepreneurship education should be a critical component in all students’ academic careers. It provides them with valuable opportunities to design and actualize new ideas and solutions; work collaboratively toward shared goals; adapt to ever-changing conditions; and develop the grit and resilience to forge their own paths. Teaching entrepreneurship early and giving students multiple opportunities to practice, test, fail, and succeed – both in and out of the classroom – is key to developing the skills necessary for success.
Numerous studies on entrepreneurship education have been conducted showing many important benefits for youth, including:
- Improved academic performance and school attendance
- Better problem-solving and decision-making skills
- Ability to develop healthier interpersonal relationships
- Enhanced ability to work in teams and collaborate
- Stronger communication skills
- Higher degrees of self-esteem
- Improvements in creativity and innovation
- Better job readiness
YIPPEE Exchange
Morgan Foundation supports entrepreneurship education for school-age students through YIPPEE Exchange, a market-based approach to philanthropy in which educators decide which programs are funded using a points-based system.
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Startups
Entrepreneurship education also benefits adults who wish to begin a small business or need help to grow their startup company. It can be a catalyst for career transitions, enabling individuals to pivot, innovate, and fulfill their dreams of becoming their own boss.
Morgan Foundation supports programs focused on educating entrepreneurs, which equip individuals of all ages with the necessary skills to identify opportunities, manage risks and adapt to rapidly changing market dynamics, through programs in on campus and in the community.
NEOLaunchNET
NEOLaunchNET is a regional initiative that inspires a culture of innovation on college and university campuses, building upon the unique assets and strengths of each school and sparking the entrepreneurial mindset in enterprising students. Students have the opportunity to start ventures grounded in their passions and receive targeted co-curricular coaching and mentoring.
Overall, entrepreneurship education transcends age brackets, empowering individuals to embrace innovation, take calculated risks, and contribute meaningfully to their communities and economies. It's a catalyst for personal growth, career development, and societal progress, laying the foundation for a more entrepreneurial, adaptable, and forward-thinking society.