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Classes such as 'Appropriate Technology for Also at SOM, the Developing World' also align the ideas Global Social Entrepreneurship (GSE) course allows students to partner with global non-profits and goals of a larger set of students in a slightly more structred way for-profits to encourage innovationtackle real-world problems. These kinds of guided entrepenuership classes and clubs help to ease people into the idea of innovating. Successive failures can be demoralizing, especially for younger students, so these kinds of activities are esepcially especially useful for freshmen and sophomores. Having a larger group usually makes activities less riskyundergraduates, so trying to bring people together is an easy way to minimize risk. Another way this can or anyone who might be done is by showing 100 people that if we assign their passion/idea to a slightly more general problem, we can easily link multiple people with the same interest. Thus, 100 startups with 1 person each can easily become 10-20 groups of like-minded individuals all working towards the same end goal. This is acomplished in groups such as [[Design exploring innovation and entrepreneurship for America|Design for America]], where, on the first day, everyone throws ideas onto the board, but those ideas are narrowed and focused by forming groups. Similar strategies can help other organizations. Finally, groups such as the Yale Entrepreneurial Institute are making progress towards structuring the process of innovation and providing mentorship at every step. Having someone who has gone through the process guide can make students feel safe when they're starting a new company, and having a dedicated group whose goal is to incubate start-ups further reduces risk by providing experience and knowledgetime.
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Yale has increased its investment in innovation, largely spurred by a grant from Joseph Tsai to create Tsai CITY, the on-campus center welcoming diverse students to pursue innovative ventures, projects, and initiatives. However, one of the main barriers to taking that first step to focused innovation is a perception of innovation as starting a company. Another hypothesis is that students' fear of failure poses another barrier to trialing innovation and creation. We aim to tackle these challenges through the following strategic priorities.
= Strategy #1: Encouraging Risk Taking by Providing InsuranceDe-risking the pursuit of innovation and new ventures =
Yale students generally do not like taking risks, so we need to find a way to encourage risk-taking. The top 15% of students from many schools, Yale included, are swept away to work in New York and consulting and financial companies. These are the students who are most likely to succeed with their own businesses. These are the smartest people that you want to be working on the biggest problems in the world. Instead, rational thinking about stability and security has prevented entrepreneurship from being a valid goal that they strive for.
One opportunity for de-risking is providing course credit to students who pursue their own ideas. In the Yale School of Management (SOM), for example, students are passionate people and it is really easy can take Startup Founders Practicum to excite someone about a meaningful and valuable goalearn course credit for working on their own venture. Social entrepreneurship There is thus an effective way to provide motivation because it takes also a different set of metrics into account and encourages people to look at impact instead of stability as class offered called "successMaking it." Clubs such as [[Engineers Without Borders|Engineers Without Borders]] take service trips Additionally, Tsai CITY offers a semester-long accelerator in which teams receive both funding and formally structure themguidance to build out their ventures. This allows many people to work together on a project and succeed easily where a single person may Having Innovation Advisors (IAs) who have gone through the process guide teams in the accelerator can make students feel safe when they're starting a hard timenew company.
= Strategy #2: Creating a Support Network for Engineering Leaders =