Impacts of entrepreneurial education on young people’s startup intentions in ha noi

FOREIGN TRADE UNIVERSITY SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESS RESEARCH PROPOSAL IMPACTS OF ENTREPRENEURIAL EDUCATION ON YOUNG PEOPLE’S STARTUP INTENTIONS IN HA NOI Group Class KTEE206(GD1 HK.

FOREIGN TRADE UNIVERSITY SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESS  RESEARCH PROPOSAL IMPACTS OF ENTREPRENEURIAL EDUCATION ON YOUNG PEOPLE’S STARTUP INTENTIONS IN HA NOI Group : Class : KTEE206(GD1-HK1-2223).1 Instructor : Dr Pham Thi Cam Anh Hanoi, October, 2022 Contents I INTRODUCTION Entrepreneurship is considered as one of the key elements to boost a country’s economy as well as maintain its economic standing in the context of globalization (Keat, Selvarajah and Meyer, 2011) Therefore, countries have been urged to build an outstanding startup ecosystem for their goal of prosperity Vietnam has become “a rising star” in the Southeast Asia region in terms of developing a prominent startup ecosystem With the number of SEA-focused venture capital funds putting more effort into early stages investments in Vietnam, Vietnam was predicted to emerge in 2022 as the 3rd largest startup ecosystem in Southeast Asia (Golden Gate Ventures, 2021) It is undeniable that the Vietnamese government has always been encouraging innovation movements among young people by enacting policies and laws which facilitate favorable elements for starting one’s own business One of the main approaches to the emboldenment is entrepreneurial education By 2025, the government’s objective is 100% of universities, institutes, 70% of colleges have at least 05 ideas, start-up projects of students are supported from suitable funding sources or connect with businesses and venture capital funds (Center for Statistics and Science and Technology Information, 2018) In Hanoi particularly, there are many forms of startup education which have been executed among universities, colleges and even high schools This phenomenon raises a question of how impactful those educational events are on the youth in terms of raising awareness and boosting their startup intentions The report will focus on the rising popularity of entrepreneurial education in Hanoi and also the influence that this form of education has on the young people in Hanoi, also their contributions to the ecosystem through two common channels: entrepreneurial competitions and startup forums Research Objectives So far, not only the studies on entrepreneurial intention in Vietnam have been remaining scarce, but educational attempts have been greatly ignored from the picture, while their impact can be a significant contribution to the ecosystem Therefore, this study endeavors to fill in the gaps by examining the popularity of entrepreneurial education among young people in Hanoi in recent years through two channels: entrepreneurial competitions and startup forums, as well as the impacts of these educational methods on their startup intention and their contributions to the Vietnamese startup ecosystem These objectives are presented in the hypotheses: Entrepreneurial education has been growing popular among students in Hanoi, however the overall acknowledgement is not large Their impacts on the young people’s startup intentions are positive and quite significant These educational methods play a vital role in the startup ecosystem Scope of the Study Spatial extent: The study covers Hanoi universities students majoring in the business and economics faculty, along with attendants in educational businessoriented activities and business organizations Temporal extent: The study includes secondary data dating back to at most five years from the current time and primary data collected during a two-week period commencing from 25/09/2022 3 Research Structure The research is structured as follows Chapter 01 evaluates the previous literature on the same topic firstly by defining literature search strategy, and secondly by reviewing literature in order to figure out hypotheses about this study Chapter 02 gives research design, research methods, and Minimize - threat Plan to internal and external validity and reliability Chapter 03 further brings about the expected outcome and contributions of this study, while chapter 04 briefs about research limitations Eventually, the summary of this study and appropriate orientation for further studies are shown in chapter 05 II LITERATURE REVIEW Define literature search strategy a) Parameters o o o o Language of publication: English and Vietnamese Subject area: education, entrepreneur, startup Publication period: the last 10 years Literature type: refereed journals and books b) Keywords and search terms: entrepreneurship education, entrepreneurial intention c) Databases and search engines to be used: o o Database: FTU Library, Internal Database, Online Database Search engines: Google Scholars, Microsoft Academic d) Criteria for selection of relevant and useful studies o o o o Be experimental Be the most recent and relevant studies Be suitable with the scope and purpose of the review Have enough material to show the development and limitations in this area Literature review a) Definitions of main terms o Education, entrepreneurship education Education is the process of acquiring knowledge and information that leads to a successful future (Abdulghani Al-Shuaibi, 2014) To clarify, education reveals the path for the individual to achieve fundamental rights and internalizes responsibilities (Wang, n.d.) Entrepreneurship education is a structured formal conveyance of entrepreneurial competencies, which in turn refers to the concepts, skills and mental awareness used by individuals during the process of starting and developing their growth-orientated business ventures (Erasmus et al, 2006) From the above statements, we can conclude entrepreneurship education is a kind of career orientation The more frequently entrepreneurship concepts are introduced in higher education, the more students consider entrepreneurs as well as startups as their future job When the students have a business mindset, they are hopefully nurtured to become entrepreneurial graduates, working with entrepreneurial culture o Intention, entrepreneurial intention Intention is a mental state that represents a commitment to carrying out an action or actions in the future According to Wei Ni Lee, Bao Ping Lim, Li Ying Lim, Huei Suen Ng, Jia Lih Wong (2012), entrepreneurial intention is defined as a state of mind that leading an individual's attention and action toward the endorsement of entrepreneurial behavior, building new business concept and undertaking in entrepreneurial career The intention to start a business is not only a yes or no question but also expressed at a low to high and very high intention level This definition is fully compatible with the view of Ajzen (1991) that the higher the intention, the greater the likelihood of committing a behavior, and therefore the intention to start a business as an intermediary or a substance and catalyst of actual action (Fayolle & Liñán, 2014) According to Popescu et al (2016) an individual's entrepreneurial intent can be defined as a dream of starting a new business in the future From the above statements, we can derive the startup intention is the level of desire and effort to build a business enterprise The higher the person's intention to start a business, the more likely they will commit to an entrepreneurial activity b) Hypotheses for the impacts of entrepreneurship education on entrepreneurial intention Many studies have confirmed the vital role of entrepreneurship education in fostering entrepreneurship For example, Mamun et al.(2017), by using a crosssectional design and quantitative approach for collected data (stratified random sampling technique was applied and the sample size was calculated by the power of 0.95 through GPower), pointed out that among factors affecting entrepreneurial intention of university students in Malaysia, university environment plays a vital role in the start-up wave in this country by providing high-quality business training courses and programs as a source of entrepreneurial knowledge and information, which can affect perceived behavioral control and acts as one of its significant dimensions Shah et al., studied factors affecting the entrepreneurial intention of students in the higher education institutes of the Sultanate of Oman, showed that although attitude towards entrepreneurship, subjective norms, and self-efficacy are important predictors of business intention, entrepreneurship education could have a significant moderating role (for example: reinforcing the right attitudes towards entrepreneurship and self-reliance and weakening subjective norms) Similarly, Samantha Kumara (2012) also asserted that startup training programs have an extremely important position in creating startup individuals and promoting the environment and entrepreneurship culture for a society Entrepreneurship education equips students with skills and knowledge about running a business, or orients them to work in Venture Capitals However, in reality, many students who have enough required conditions may not have entrepreneurship intentions Therefore, to further examine how education affects perceptions of entrepreneurship, we propose the following hypotheses: o H1: Entrepreneurship education in university has a beneficial impact on Hanoi students’ entrepreneurship attitude In terms of attitude, several studies have found that formal entrepreneurial education affects students' attitudes, their future career orientation, and has a significant impact on their entrepreneurial attitudes over time (Dinis et al., 2013; Manish, 2015; Jena, 2020) Specifically, undergraduates who are exposed to entrepreneurial education develop a more positive attitude to pursuing entrepreneurial careers (Mamun et al., 2016) By providing necessary knowledge and skills, entrepreneurial education impacts positively towards the attitude of students to engage in entrepreneurial ventures (Ediagbonya, 2013; Kassean et al., 2015; Wei, Liu and Sha, 2019) H2: Entrepreneurship education in university has a beneficial impact on Hanoi students’ entrepreneurship-related cognitive skills and behavior o Nguyen and Duong showed in their study in 2021 asserted that apart from the direct impact on entrepreneurship intention, courses on economics and business also positively affected perceived behavioral control and subjective norms Many universities in Hanoi equip their students with critical thinking skills, problem solving skills, startup mindset by providing educational support, innovation and incubation space, and the youth entrepreneurship orientation Students who enroll in business and economic courses are more likely to have positive attitudes toward entrepreneurship, subjective norms, and have higher perceived behavior control, and those lead to entrepreneurial career intention of students (Thu and Hieu, 2017) While the researchers may have some contradicting results and come up with a varied number of findings, it seems that the majority consider entrepreneurial education to be one of the most crucial factors in promoting entrepreneurial intention among young people, both directly and indirectly With a considerable number of previous studies, we believe that the hypotheses as mentioned before will stay true and help to explain the complexity of entrepreneurial intentions among Hanoi young people III RESEARCH METHODOLOGY Research Design This study will look through two common channels of entrepreneurial education, which are entrepreneurial competitions and startup forums To measure the widespread of entrepreneurial competitions, both primary and secondary data are equally considered as valid evaluation The popularity of the educating method can be determined by figures (the number of competitions organized in the recent years and their public awareness), therefore the information needed can be obtained solely through quantitative design Assessment of startup forums’ reputation can be performed with the same approach as the competitions through gathering data on the number of forums taken place in recent years along with each event’s attendance and awareness The influence that entrepreneurship competitions have on young people can be determined with a mixed research design Looking at launched startups of the former contestants as well as in-depth interviews with them can create a decent picture of the matter The number of candidates from each contest can also be a considerable approach since it proves not only they are aware of the competition and the topic of entrepreneurship but actually motivated to enter the startup field Evaluation of these competitions’ role in the ecosystem can be done by reckoning the number of successful entrepreneurs originated from them, as well as the amount of investments that those contestants have gained from accelerators, incubators, venture capital funds through the connections of these competitions This can be done with the use of both qualitative and quantitative research designs The impacts of startup forums on students’ intention and ecosystem in general are determined by the convert rate of attendants from the forums to other entrepreneurial events Research Methods a) Data collection To collect data for assessing the popularity of business competitions, searching for quantitative secondary information is necessary by looking at the number of competitions through websites, and social networking sites (Facebook) The attention for those competitions is determined by the number of followers and interactions from the sites Questionnaires asking students’ acknowledgement of such competitions will also be sent to universities, colleges and intermediate schools The same method can be used with startup forums to assess their popularity (online research and questionnaires) Data on the impacts on entrepreneurial intentions can be gained from the sites and online to find the information about each startup project to see if it is launched Number of candidates can be gathered as secondary data through research The study also requires structured in-depth interviews for the former contestants about the effects of the competition they participate on their startup intentions (we aim to interview the top contestants since they can be found through online research, a wider range of interviewees can only be reached by asking for their profile from those competitions, or costs a certain amount) In terms of assessing entrepreneurial competitions’ influences on the startup ecosystem, we intend to collect secondary data of successful entrepreneurs from such contests through online research Gathering information on successful investments from those competitions can be executed by performing in-depth interviews on the competitions’ representatives, as well as asking for their data and documents Finally, effects of startup forums will be determined by feedback and questionnaires for attendants In order to perform such methods, we need to gain access to the attendants’ data from the events then send them questionnaires through communication channels (Emails) Filtering the ones with consequent entrepreneurial actions for further in-depth interviews is necessary b) Data analysis 10 In terms of quantitative data analysis, the choice of method would be PLS-SEM By maximizing the explained variance of the dependent latent constructs, this model enables the estimation of intricate causal linkages between latent variables Small sample size and non-normality were anticipated given the constrained time frame for data collection and the practical sampling technique The structural model was also highly intricate, which helped the research goal of examining theoretical advancements made by earlier investigations Regarding qualitative data analysis, the grounded analysis method would be adopted This allows the optimum utilization of data collected on students’ entrepreneurship as it provides profound insights into individual cases, especially the representative one The categories that are created throughout the data analysis process will identify the new instances that will be picked for additional data collecting Therefore, sampling in this kind of study serves to further theoretical inquiry until theoretical saturation is reached rather than to guarantee sample representativeness When data collecting is unable to uncover any additional attributes pertinent to a category, theoretical saturation has occurred Ensuring Validity and Reliability The study intends to gather data with three main methods: Research for secondary data, questionnaires and structured in-depth interviews The reliability of secondary data depends on the source found Online research may result in false data if the sources are news and posts on social media and websites A solution to minimize the threats to reliability is collecting verified academic research and reports through reliable sources, as well as avoiding commercial and promotional posts Asking for data from organizations requires confidentiality agreement and perhaps a cost for it Sending questionnaires involves neutrality and decent coverage when choosing samples, while in-depth interviews require neutralizing the interviewing environment and also the interviewer's attitude towards the answers To further guarantee validity and reliability, a neutral opinion and attitude are also needed in the preparation stage for the questions 11 12 IV EXPECTED OUTCOME AND CONTRIBUTIONS Through the study, we expect to prove the vital role that entrepreneurial education plays in the Vietnamese startup ecosystem This may contribute as motivation for the government and organization to further develop the education of startups for students in Hanoi V RESEARCH LIMITATIONS There are a few limitations being discovered during the process of conducting research The limitations serve as a reference for future studies and not affect the conclusions made during the study Time constraints Entrepreneurial action is the best indicator of entrepreneurial intention This research study only examines the entrepreneurial intention but not actual action as it appears to be impracticable in real life and it requires a longer duration to monitor the actual action Researchers are incapable of conducting this longitudinal study Small sample size The small number of samples collected cannot guarantee a diverse range of target groups Because people from various cultural, socioeconomic, and educational backgrounds may react differently to startup activities, the research should collect samples from a variety of sources in order to acquire the most accurate results 13 Limited access to information Due to limited financial resources, researchers are unable to have direct access to many research papers that are deemed to be important and related to this study Although researchers are able to access this information through secondary sources, the author might not be able to include all information that is important in this study 14 VI CONCLUSION Although there have been several studies on Hanoi universities students’ entrepreneurship, this study aims to specifically focus on the impact of startup competitions and startup forums on the mentioned subject As far as the study is concerned, the expected outcome is proof that such educational activities as startup competitions and startup forums play an important role in developing entrepreneurship among university students in Hanoi Regarding this result, we would propose that such entrepreneurship organizations should be highly encouraged and both financially and non-financially supported by universities, the Youth Unions and local levels of government If so, this will act as a major and effective driver for the enhancement of students’ entrepreneurial qualities There are certainly limitations to this study that must be considered Firstly, as the limited scope of the study suggests, both in terms of the time frame and sample size, it hardly provides a fully representative insight into the larger community of students Another flaw affecting the comprehensiveness of the outcome is the limited access to valuable sources of information This prevents us from gaining the necessary thorough overview of the situation regarding the subject of the study Albeit, this study wishes to add to the body of knowledge on entrepreneurship among young people in general and Vietnamese students in particular From a scholarly perspective, our study examined more closely at the adverse influence of entrepreneurship organizations on the overall development of students in Hanoi In terms of practical impacts, we have suggested important steps and policies for students, colleges, the government, and society as a whole In order to help developing nations like Vietnam avoid the middle-income trap and evolve into hightech industrialized nations, we believe that the research may be used as a valuable resource, a point of reference for implementation methods for policies, and a springboard for additional study 15 VII REFERENCES • Ajzen, I., 1991 The theory of planned behavior Organizational behavior and human decision processes, 50, pp 179–211 • Al-Shuaibi, Abdulghani 2014 The Importance of Education • Andrei, J., Mieila, M., Popescu, G et al (2016) The 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Testing on the Multiple Mediation Model Front in Psychology, 10 17 ... terms of raising awareness and boosting their startup intentions The report will focus on the rising popularity of entrepreneurial education in Hanoi and also the influence that this form of education. .. of findings, it seems that the majority consider entrepreneurial education to be one of the most crucial factors in promoting entrepreneurial intention among young people, both directly and indirectly... intention is defined as a state of mind that leading an individual's attention and action toward the endorsement of entrepreneurial behavior, building new business concept and undertaking in entrepreneurial