Entrepreneurship curriculum should be a staple in every pre-K through 12 school district in Indiana. There are some obvious reasons why this is important:
– It fosters creativity and innovation
– Entrepreneurship encourages children to think creatively and find innovative solutions to problems
– It develops critical thinking and problem-solving skills
– Learning how to find solutions to a particular problem requires analyzing situations, evaluating options and making informed decisions
– It instills a strong work ethic as success only comes through dedicated effort and persistence, which can help children in all aspects of life
– It nurtures financial literacy: Entrepreneurship introduces children to fundamental concepts of money management, such as budgeting, saving and investing
– It promotes independence and self-reliance and empowers kids to take initiative and become self-reliant, as well as taking responsibility for their ideas, actions and outcomes
– It enhances communication and presentation skills as success requires selling yourself, your idea, your product and simply articulating one’s thoughts
– Teaching kids about entrepreneurship empowers them with valuable skills and mindsets that can contribute to their personal, academic and professional success
Fortunately, Indiana is home to the STARTedUP Foundation, which is committed to supporting students, teachers and workforce development efforts throughout the state. The organization offers curriculum to school districts throughout the state; the only thing that is required is a teacher willing to adopt and implement the lessons to his or her students.
The value of STARTedUP’s efforts was on display last week at Butler University, where 10 student-run companies in the Innovate WithIN state finals pitch competition. The winner was Clean Line, a company that offers a screening tool that attaches to catheters and detects urinary infections before patients manifest symptoms. The founders, Nathan Dierckman and Makayla Phillips of Carmel High School, won $25,000 that they will use to secure intellectual property rights.
Since its inception in 2018, 6,264 Indiana students have been involved in the Innovate WithIN pitch competition. As of January 2023, three student businesses that participated in the 2022 competition have been offered a combined total of over $250,000 in private investments and venture capital funding.
According to the Kauffman Foundation’s latest ranking on entrepreneurship, Indiana ranks in the bottom third of states in the following metrics:
– Rate of new entrepreneurs (based on the percent of population that starts a new business)
– Opportunity share of new entrepreneurs (percent of new entrepreneurs who created a business by choice instead of necessity)
– Startup Early Job Creation (average number of jobs created by startups in their first year, per capita)
The time has come for Indiana to address our entrepreneurship shortcomings. Merely teaching our youth about the pros and cons of starting their own business will have a net-positive outcome for Indiana’s long-term future, but just imagine the economic impact of every high school in the state producing innovative businesses led by teenagers.
