Entrepreneurial Student Teams and Start-up Project Continuance Intention at Hungarian Universities

Abstract

Research Question: The study investigates into whether the characteristics of early-stage innovative student entrepreneurship projects, student team composition, and the intention of continuing the project are related at Hungarian universities. Motivation: Entrepreneurship has long been recognized as a vital driver of innovation, economic development, and societal progress. Within the educational landscape, fostering entrepreneurial skills among university students has become increasingly critical, particularly considering global challenges demanding creative solutions and innovative ventures. This study is motivated by the need to understand the dynamics of early-stage student entrepreneurship projects within the framework of the Hungarian Startup University Program (HSUP). Specifically, it seeks to explore the relationship between the intrinsic characteristics and dynamics of startup projects, such as team composition and skill diversity, and their likelihood of continued development. In addition, the research aims to identify the attributes of student teams that excel in entrepreneurial ventures. Idea: The Hungarian Startup University Program (HSUP) is a fully uniform, centrally managed programme that students from participating universities can take as an undergraduate course, receive ECR credits and earn scholarship for promising project ideas. Our investigation aims to shed light on both the intrinsic characteristics of these entrepreneurial teams and the broader implications of their endeavours. Data: We explore the dynamics of 186 startup initiatives launched by university students, involving a total of 880 participants, within the framework of HSUP across 27 Hungarian universities during the 2021/2022 academic year. Tools: Through a systematic quantitative analysis of HSUP progress reports submitted by emerging entrepreneurial teams, we identify patterns related to team competencies, composition, and the trajectory of innovation and technological development within their projects. Findings: Our analysis reveals that teams comprising members from multiple universities and possessing engineering and IT skills are more likely to advance their projects. Additionally, the development of a minimum viable product (MVP) may predict the intention to continue the venture. Team diversity further emerges as a critical factor in the success of student startup projects. Beyond these findings, our study provides valuable insights into the entrepreneurial ecosystem cultivated by HSUP, highlighting its broader socio-economic implications. Contribution: Our findings offer actionable guidance for entrepreneurship education educators and researchers in the context of refining and fostering programs such as HSUP, thereby enhancing their efficacy in cultivating entrepreneurial acumen among university students and amplifying their capacity to drive innovation and economic growth.