The University Ecosystem as a Catalyst for Entrepreneurship

Mexico is a global leader in entrepreneurial intentions among students, as revealed by data from one of the world's most extensive and representative studies on university entrepreneurship. An estimated 22.7% of a representative sample of Mexican university students plan to start their own business immediately after graduation, while 51.8% consider doing so within five years—significantly higher figures compared to the global average of 15.7% and 30%, respectively. Additionally, 28% of students in Mexican universities have incorporated an entrepreneurial focus into their academic training, significantly surpassing the global average of 9.2%.

These positive figures come from the Global University Entrepreneurial Spirit Student’s Survey (GUESSS), a biennial survey conducted by EGADE Business School and the Eugenio Garza Lagüera Institute of Entrepreneurship at Tecnológico de Monterrey. The latest edition, with data from 2023, involved more than 226,000 students worldwide, including 3,082 from Mexico, and explores key aspects such as entrepreneurial intentions, student-led business development, and succession in family businesses.

The entrepreneurial mindset of students and their willingness to take risks make them key players in the transformation of Mexico’s economic and social landscape. Compared to previous years, the study highlights the growth of entrepreneurial intentions among Mexican students. But what factors influence students' entrepreneurial intentions, and why does Mexico stand out as a leader among the 57 countries participating in the study?

The DNA of an Entrepreneur: Key Attitudes and Competencies

The GUESSS study analyzes university students' entrepreneurial attitudes from three key perspectives:

1. Entrepreneurial environment: This considers factors that influence entrepreneurial intentions within the university context, such as institutional culture, academic support, and networking opportunities. These elements can either encourage or discourage the decision to start a business.
2. Entrepreneurial perspective: This examines students’ perceptions of entrepreneurship, evaluating both its viability and their confidence in their own entrepreneurial abilities. This approach helps understand how these beliefs affect their willingness to engage in entrepreneurial activities.
3. Social and family context: This explores the impact of family and social context on the development of entrepreneurial skills. It analyzes how prior experience, family support, and social environment influence skill formation and motivation to become an entrepreneur.

Universities’ Entrepreneurial Orientation

The study results highlight that 20% of students in Mexico chose their university based on its entrepreneurial reputation, compared to the 9.2% global average. Furthermore, 28% of students in Mexico have taken entrepreneurship courses, while more than half of the global sample has not covered these topics. A greater willingness to take both elective and mandatory entrepreneurship courses is also observed in Mexico.

Another significant finding is that 18.5% of students in Mexico are enrolled in a specific entrepreneurship program, more than double the global average (6.3%). Regarding the university environment, students in Mexico perceive a more favorable setting for entrepreneurship compared to their global peers, reporting greater inspiration and institutional support.

Additionally, entrepreneurial education in Mexico has positively impacted business opportunity identification, networking skills development, and the formation of entrepreneurial attitudes. On average, these metrics exceed level 5 on the Likert scale, whereas the global average is around 4.

First Steps in Entrepreneurship

Making the most of university years to start a business is key, as the GUESSS study shows that 42% of nascent entrepreneurs launch their ventures while still studying. Therefore, students are encouraged to utilize university resources such as incubators, mentorships, and innovation labs to develop business ideas, as well as to acquire leadership, negotiation, and networking skills through courses, events, and programs available both on-campus and online.

According to the study, 40% of participants expect their ongoing business to become their primary occupation after graduation, while 36% are undecided, and 23% do not anticipate it becoming their main activity. One area for improvement is that 86% lack prior experience in starting a business, compared to the 14% who have already founded one. Additionally, only 19% of student entrepreneurs have had access to capital, highlighting the need to strengthen funding alternatives and training in entrepreneurial finance within universities.

Regarding the economic sectors in which student startups operate, 25.3% belong to the secondary sector (goods production such as manufacturing, processing, and construction), 23.8% to the tertiary sector (service provision such as tourism, banking, healthcare, and legal services), and 24.6% are classified as "other," suggesting a mix of activities.

In terms of entrepreneurial team composition, 51% plan to start their business alone, 32.9% with one co-founder, 12% with two, and 4.1% with three or more co-founders. Teamwork strengthens projects by combining skills and resources, and seeking strategic partners is key to entrepreneurial success. Moreover, 76% of students anticipate being majority owners of their company, 17% expect to hold a 50% stake, and 7% foresee having a minority stake.

Family and Entrepreneurial Intent

The influence of the family environment is a crucial factor in entrepreneurial intention, as parental role models can encourage business creation. In Mexico, 28% of respondents stated that their father is a business owner or self-employed, compared to 18.3% globally, while the percentage of mothers in this situation is lower at both levels. Additionally, twice as many students in Mexico reported that both parents are self-employed or business owners compared to the global average.

Regarding the sectors in which family businesses operate, 32% belong to the secondary sector (manufacturing, construction, etc.), followed by the primary sector (agriculture, fishing, etc.). Nearly half of respondents have worked or collaborated in their family business, though only 9.6% expressed a strong intent to succeed their parents, while 37.6% strongly opposed this option. A question remains unanswered: how does having parents as business founders or majority owners influence their children's entrepreneurial intentions?

This study provides a detailed analysis of the entrepreneurial intentions of Mexican university students and the factors that influence their decisions. The findings offer valuable insights to better understand future entrepreneurs' needs and design more effective strategies to support them.

For universities, strengthening entrepreneurial education presents a significant opportunity. Designing academic and extracurricular programs that foster entrepreneurial competencies enhances students’ self-efficacy and enriches their professional profiles. Prioritizing practical activities such as business simulations, hackathons, and mentorship programs helps guide students in developing their projects.

Furthermore, it is essential to create supportive ecosystems within university campuses by establishing incubators, accelerators, and innovation labs, while facilitating access to mentors, seed funding, and networking opportunities. Additionally, promoting an entrepreneurial culture through communication campaigns, events featuring successful entrepreneurs, and partnerships with key ecosystem players helps inspire more students to develop their own initiatives.

The authors are professor and associate dean of Faculty and Research, EGADE Business School (José Ernesto Amorós) and professor and director of Training and Knowledge in Entrepreneurship, Eugenio Garza Lagüera Institute of Entrepreneurship (Geraldina Silveyra).