Research On The External Support System Of University Students' Entrepreneurship

In the era of globalization and knowledge-driven economy,to promote the development of innovation and entrepreneurship is regarded as the key to enhance national competitiveness in the US,and to cultivate entrepreneurial talents is the mission and responsibility of universities.As entrepreneurial talents are not raised in the closed ivory tower of academic institutions,the students' entrepreneurship in the US universities has formed an external supportive system with the government,university and industry as crucial components and to motivate and integrate all kinds of resources to meet various needs of different sectors.This paper is based on the theoretical framework of the external supportive system of university students' entrepreneurship in the US,discusses the policy,finance,service and culture strategies as the supportive components,and analyses the role and collaboration of government,industry and university.Entrepreneurship ecosystem theory and "Triple-helix" theory are the major theoretical background.Based on these theories,government,industry and university are the critical actors to promote university students' entrepreneurship,providing incubating services,financial,cultural and policy supports.Firstly,policy support is the coordinator in the US university students'entrepreneurship external support system.To deal with the challenges of technology development and globalization,American government has implemented entrepreneurial policies from the 1980s.Both the federal and state,local governments has made entrepreneurial strategies.The small business development policy and national innovative strategy are the major directions to promote entrepreneurship,to collect and motivate all kinds of resources and provide funds,mentors,consultant and services for university entrepreneurship education.Secondly,financial support is the driving force in the US university students'entrepreneurship external support system.As with the US government's credit guarantee and tax credit policies,the social sectors are motivated to provide financial support as well as entrepreneurial mentors and consultants for university students through angel funds,venture capitals,foundations and other innovative channels.Thirdly,incubating service is the catalyst in the US university students'entrepreneurship external support system.With incubators as the typical form of entrepreneurial service institutions,physical spaces,funds,trainings and platforms are provided to university students.The service institutions connect resources of government,the society and university to meet the needs of student entrepreneurship,and increase the entrepreneurial intentions and success rate of students.Lastly,cultural environment is the incentive in the US university students,entrepreneurship external support system.The entrepreneurial culture in the US universities is featured as equal,independent,competitive,failure tolerated and practical,and makes an open and inclusive entrepreneurship environment.Together with the national and regional entrepreneurial spirit,the cultural support enhances students'entrepreneurial mindsets and motivations.Additionally,University of California,Los Angeles(UCLA)is chosen as the case study of this research.UCLA has started its entrepreneurship ecosystem construction strategy since 2010,and was featured as wide interpretation of entrepreneurship concept,professional entrepreneurial resource platform,interdiscipline cooperation for innovation and tight connection with outside supporters.Based on the empirical studies on UCLA student entrepreneurs,in addition to entrepreneurship education cources,students are supported by policies,funds,incubating services and culture for their entrepreneurship development.In conclusion,the US entrepreneurial economic development and the cultivation of entrepreneurial talents is closely related to the participation and cooperation of government,university and industry,thus forming the external support system of university students' entrepreneurship with policy,finance,incubating service and culture as four pillars,to promote the development of university students' entrepreneurial awareness,skills and actions.