Communications of the ACM
The Rise of the Graduate Entrepreneur
The Independent
Credit: Market America
Even while the job market for traditional corporate jobs is shrinking within the U.K., a new job market for entrepreneurial startups is growing. With the rise in graduate unemployment, more and more graduates are reassessing their career options and looking for more entrepreneurial career paths. This is especially true since Gen Y graduates are generally less motivated by money, but more by the ability to make an impact and have autonomy in their work, which working in startup environments allow. Within the technology industry, the future is looking bright for young and tech-savvy entrepreneurs looking to start their own business.
This rise of the graduate entrepreneur has been helped by the creation of new tech startup hubs, such as East London's Silicon Roundabout, as well as new startup acceleration programs. As a result, there has been a dramatic increase in the amount of startups that are able to hire people within a couple of years of being founded, with relatively low risk for the new employee. New career fairs showcase promising startup companies, as well as entrepreneur-support programs that seek the startup creators of the future. Many of these companies offer internships and graduate positions, just like their established corporate counterparts. In general, there's increased awareness of entrepreneurial startups, spearheaded by startup careers events across London, as well as new understanding of what startup companies have to offer.
Another factor is at work, too: traditional graduate routes are becoming increasingly irrelevant for the new generation. Graduates today expect more from their careers than 9-to-5 in a traditional office. They want to be challenged and to contribute to something they care about. Joining a startup or building a startup provides just that, an opportunity to be part of a small, fast moving team where on a daily basis you are learning new skills and seeing the direct impact of your work. There's also the financial aspect: within a year graduates can build companies that create millions of dollars of value. For graduates looking to get into business immediately, getting involved in their own creative startup could be the best way to join the job market.
From The Independent
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