Research on the Selection Strategy of Entrepreneurial Projects Based on the Characteristics of College Students in the New Era

Abstract

Entrepreneurship is widely acknowledged as a fundamental driver and also a key mechanism to transfer knowledge, promote innovation, and foster economic growth. Entering the era of the knowledge economy, entrepreneurial education and training have received substantial support from the government and higher education institutes in China. In spite of government support, a large proportion of student entrepreneurs have failed. This study, focusing on the entrepreneurial endeavors of Chinese university students, analyzes the strengths and limitations of student entrepreneurship. On the positive side, Chinese university students exhibit advantages in terms of information acquisition, independent observation, expression of individuality, and competitive acumen. However, their entrepreneurial endeavors may be constrained by the following limitations, such as lack of strong dedication, lack of perseverance, inadequate teamwork spirits, and limited entrepreneurial experience. Based on an in-depth investigation of student entrepreneurship in China, the study emphasizes the importance of students choosing entrepreneurial projects that align with their personal strengths and market opportunities. This investigation brings about three project selection strategies as well as a corresponding project selection model that incorporates these insights. Last but not least, the study also addresses six common misconceptions that may hinder students’ entrepreneurial efforts. The main contribution of this research lies in that it enhances existing collegiate entrepreneurship theories and provides practical advice for selecting entrepreneurial projects.