Entrepreneurial learning opportunities this summer in Maastricht

Have you ever caught yourself thinking that you just might have found a solution to a common problem but then gave up on the idea because you were uncertain about what to do in the next step?

Entrepreneurship – should I be interested?
People like Bill Gates, Muhammad Yunus, Richard Branson or Bill Drayton would certainly tell you that becoming an entrepreneur can be very rewarding. Although entrepreneurship might not be a (direct) road to wealth, most entrepreneurs would probably be unwilling to surrender to a better paid salaried job. Members of this community are foremost people who wish to use their creativity and energy to achieve something that inspires them, and at the same time also enjoy the freedom of being their own boss.

The Maastricht Centre for Entrepreneurship (MC4E) at Maastricht University is this summer providing all aspiring entrepreneurs the opportunity to participate in two separate summer schools on commercial and social entrepreneurship. Both events aim at helping participants determine whether their attitudes, goals and ideas are compatible with starting, running and growing their own (commercial or social) business.

Entrepreneurship Summer Schools – An opportunity to learn firsthand from experts
In collaboration with ABN Amro bank, MC4E in the summer of 2009 organised the first Entrepreneurship Summer School in Maastricht. The event was attended by an international group of students from four European universities – Maastricht University, Université de Liège (Belgium), Universität Passau (Germany) and Universität St.Gallen (Switzerland) – as well as several students from Zuyd University.
With the help of Maastricht University faculty members, professional investors and financiers, and entrepreneurs, participants faced the challenge of developing fresh entrepreneurial ideas. Some of their initiatives, for example Braineo, have since then developed into a real business.

Winners of the 2009 Entrepreneurship Summer School

What to expect from joining a summer school
Based on last year’s experience, MC4E is this year organising two summer schools on entrepreneurship with two separate foci.

The first programme, Entrepreneurship Summer School, again in cooperation with ABN Amro bank, will be held from 5 till 9 July 2010. Its focus is on development of commercial, for-profit entrepreneurial initiatives.

As ABN Amro in the same week co-organises similar summer schools with 12 other universities/polytechnics in the Netherlands, all summer school participants will be invited to take part in the nationwide competition for the best business concept with a reward in the form of a EUR 5000 ABN Amro Business Start-up Account.

The second programme, Social Entrepreneurship Summer School, will take place from 12 till 16 July 2010. Surveys show that students are increasingly becoming interested in entrepreneurial initiatives which offer a social return instead of purely economic profit to the entrepreneur and the investors. The Social Entrepreneurship Summer School is dedicated to initiatives foremost seeking to have a social impact and serve societal needs.

Entrepreneurship Summer School Prize Award Ceremony in Amsterdam, 2009

Entrepreneurship is not about dreaming, it is about realising dreams
Participation in both summer schools is free of charge. Although both events are primarily designed to attract third year bachelor students, registration is open to all individuals, irrespective of their level of education or whether or not they have studied in Maastricht.

The Entrepreneurship Summer School or the Social Entrepreneurship Summer School aim at allowing enterprising participants, regardless of age or background, to experience and learn what it takes to
transform an idea into a business concept.

“The Entrepreneurship Summer School has been a tremendous experience! Not only did I become aware of all the different aspects the life of an entrepreneur encompasses, it gave me the spirit to pursue the opportunity of being an entrepreneur and knowing that if I put my mind to it, and work hard, I can be successful at it. It is not an average week, it’s a busy one, with lots of hours of knowledge sharing, networking, and discussing ideas, experience, and many more. All useful hours!”

Stefan Harberts (Student in the MSc IB programme Strategy & Innovation and Organisation at Maastricht University, participant in the 2009 edition of the Entrepreneurship Summer School)

You will only succeed in entrepreneurship if you are ready to commit yourself to your passions
An interview with Ing. Wynand Bodewes, coordinator of the two MC4E’s summer schools and senior lecturer on entrepreneurship at Maastricht University.

Q: What is your definition of an entrepreneur?
I like to use the definition put forth by Howard Stevenson from Harvard Business School, who said that “entrepreneurship is the pursuit of opportunity beyond the resources you currently control”.

Q: What would you say is, in general, the best and the worst thing about being an entrepreneur?
I think that this is something that you should find out by talking to entrepreneurs themselves. You would very likely get quite diverse opinions. Still, regarding the positive side of entrepreneurship, often cited answers could be independence, personal development, or “making it happen”. On the other hand many entrepreneurs would probably also say that it can all be very time consuming, stretching, and that a likelihood of failing is often present.

Q: In recent times the notion of social entrepreneur has been gaining increased attention. What is the difference between a traditional entrepreneur and a social entrepreneur?
Actually, it is a little bit paradoxical. On the one hand, the two terms are very similar, but at the same time also very dissimilar. The ambitions and aspirations usually differ tremendously, but both types are driven by passionate individuals who try to make a difference. It is just that “traditional” entrepreneurs typically measure performance in terms of profit and economic return, while social entrepreneurs recognise some social problem and use entrepreneurial principles to create social change. The latter, however, is not necessarily incompatible with making a profit.

Q: What are the three top books that have made a personal difference to you?
A very compelling book is Mastering the Rockefeller Habits, by Verne Harnish. I would also recommend Jim Collins’ business classic Good to Great. There is also Anne Marie Knott’s book Venture Design, which provides a step-by-step guide to write a convincing business plan.

Q: In July 2010 Maastricht University will host two Summer Schools on entrepreneurship. What was the main reason for MC4E to organise such events?
Maastricht University prides itself to be a student centred institute of higher education. Our problem-based learning method, PBL, starts from the assumption that we should stimulate and enable self directed learning. Many students expressed the wish to learn about entrepreneurship, some of them specifically about social entrepreneurship. That is also the reason why increasing numbers of students are finding their way to the courses, events and workshops organised by MC4E.

Q: What advice would you give to aspiring entrepreneurs who are still in doubts whether to join one of the MC4E’s summer school events?
If you doubt, then do NOT register. You will only succeed in life if you are ready to commit yourself to your passions. If you are not passionate enough, then go and do something else. On the other hand, if you are passionate, but you first want to test the water, the summer school may be a good way to spend one week of your vacation. And it will certainly be a fun and enjoyable part of your vacation.

Q: Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur?
W. Bodewes: That would be wonderful, but unluckily there are no recipes for success. But I can assure you that our evidence based programmes will help you to evade some common pitfalls.

Q: When looking back on your personal experience and professional expertise in entrepreneurship, what three pieces of advice would you give to aspiring entrepreneurs?
Firstly, team up with other aspiring entrepreneurs, thereby seeking complementary skills and knowledge. For example, reach out to students at the RWTH in Aachen.
Secondly, as you take the path of an entrepreneur and create a first venture, you need to realise that your first venture is just that, your first and certainly not the last venture. If you really want to be an entrepreneur (and not a manager) then other new ventures will follow.
Finally, build a business that can serve a global and NOT only a local market. Simply spoken, shoot for the moon!

By Borut Vovsek
Borut Vovsek is a Slovenian student enrolled in master’s programme International Business at Maastricht University School of Business and Economics. Sharing the belief about the importance of “learning by doing” approach in education, he actively supports challenging activities of the Maastricht Centre for Entrepreneurship.