NYU study: NFTE's 2014 summer entrepreneurship programs shows "benefits beyond business skills."

On February 26, 2015, New York University (NYU) Steinhardt School of Culture, Education, and Human Development released a study of summer entrepreneurship programs run by the Network for Teaching Entrepreneurship (NFTE). 
 
The report, quoting Dr. Meryle Weinstein, Research Assistant Professor of Education Policy at NYU, found "...many students indicated that the business-related skills they learned would help them in other parts of their lives, including academic areas such as writing and math, and even managing personal finances.”
 
Weinstein also said, “Our analysis of the NFTE summer programs showed that students really connected the experience with real-world as well as scholastic achievement. There appear to be real benefits to engaging students this way – with summer lessons outside of the school setting that are collaborative, project-based and focused on learning about subjects other than math and English.”
 
Key findings in the report include: 
 
  • Approximately 95 percent of students agreed or strongly agreed that the skills they learned in the program would help them in their life and in business.
  • 90 percent of students indicated that the skills they learned and experiences in the summer program would help them in school.
  • Students reported an improvement in their communication and problem solving skills as a result of the program.

 

And, according to the report summary, "In addition to developing their communication skills, most students spoke about learning the importance of determination, persistence, being open to failure, and flexibility. Students often spoke about the important role of both persistence and passion, particularly given their perceptions of the difficulty in starting a business.”

 
From the NYU press release about the report: "Teaching entrepreneurship – how to create, grow, and run a business or organization – is a potential way to increase college and career readiness skills. NFTE’s 2014 summer programs, in which students learned basic business skills while developing an “entrepreneurial mindset,” served more than 450 at-risk teens in 10 cities across the country."
 
The report and major expansion of the 2014 summer programs were funded by Citi Foundation as part of their Pathways to Progress initiative - a three-year $50 million commitment by the Citi Foundation to provide 100,000 low-income youth in the United States the opportunity to develop the workplace skills and leadership experience to compete in a 21st century economy.
 
The report and summary are here:
 
 
For more information on other NFTE research and the enterpreneurial mindset.