As a large research university, UT is home to many opportunities for students wishing to start their own businesses. Utilizing the entrepreneurial resources available to students fosters a sense of independence that can act as a catalyst for innovation, providing invaluable skills and opportunities that extend beyond the classroom.
Despite student interest in entrepreneurship, many individuals face hurdles due to their lack of knowledge of essential resources and support systems on campus. According to a report by the LaunchPad at UT Austin, while the university offers more than 100 resources related to entrepreneurship, only 55 ventures were served, showing many students are not taking advantage of these opportunities. To fully benefit from the myriad of resources available, students must adopt a self-motivated approach and actively seek out opportunities.
A key factor in overcoming cognitive hurdles is building mental toughness among aspiring entrepreneurs. Colin Ellis, the assistant director for the Harkey Institute for Entrepreneurial Studies highlights the importance of psychological resilience.
“The odds of a first startup being the big hit … the odds are very, very, very slim,” Ellis said. “The third one, the odds are really good. So, you’ve got to survive one or two to get to three.”
Engaging in the array of resources can connect student entrepreneurs with their like-minded peers, building a sense of resilience and fortitude. UT provides numerous tools that guide students through their journey, such as the Herb Kelleher Center for Entrepreneurship and the Kendra Scott Entrepreneurial Leadership Institute, where they can benefit from working with experienced mentors.
Ashley Raymond, co-founder and CEO of Safely, who completed both her undergraduate and master’s degrees at UT, shared her insights on UT’s many opportunities.
“UT has so many amazing resources,” Raymond said. “At the end of the day, it’s a matter of if you’re driven enough to use them.”
Collins explains that one such way to bridge the gap between academic knowledge and real-world application is through the Texas Venture Labs (TVL), a campus-wide initiative that connects talented students with startups, providing them resources and guidance to help them succeed.
“Many companies present real business problems. Students work as consultative entrepreneurs to then solve these problems; it’s something that’s co-created and everyone wins,” Collins said.
Some may argue students are unable to become entrepreneurs as they lack the resources necessary. However, UT provides a myriad of resources students can use to start their own business. Students with motivation and a sense of perseverance can utilize these opportunities to create a dynamic entrepreneurial environment.
To further student entrepreneurship at UT, students must become self-motivated and take advantage of existing resources. The opportunities within the university provide platforms where students can experiment with their ideas, receive constructive feedback and iterate on their concepts. If students are willing to utilize them, the various entrepreneurial resources at UT equip students with the necessary skills and knowledge to pursue their ambitions with confidence and success.
Chitturi is a statistics and data science sophomore from Houston, Texas.
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