UNIVERSITY PARK, PA – Penn State was ranked No. 21 among undergraduate entrepreneurship schools in the United States by The Princeton Review in its annual rankings of the best schools for entrepreneurship studies. Among Northeastern schools, Penn State came in at No.5.
The 2022 ratings were announced by a partnership of The Princeton Review and Entrepreneurship magazine on November 16. Last year, Penn State ranked No. 36 on the national list.
The organizations collected data for entrepreneurship assessments as part of a targeted survey from June to August 2021 from more than 300 schools offering entrepreneurship studies and programs. Ratings are based on information provided directly by universities on over 40 unique entrepreneurship-focused data points, including course offerings; enrollment percentages for entrepreneurship courses; student and alumni projects; business plan and availability of pitch competitions; and the availability of scholarships and financial aid.
The new Top 25 ranking was based on a comprehensive data set from across Penn State’s entrepreneurial ecosystem, including the Farrell Center for Corporate Innovation and Entrepreneurship at Smeal College of Business, the intercollege Entrepreneurship & Innovation ( ENTI) Minor, the Center for Penn State Student Entrepreneurship, and the Office of Entrepreneurship and Marketing within the Office of the Senior Vice President for Research. The full methodology can be reviewed here.
“Interuniversity access to Penn State’s undergraduate entrepreneurship courses is unique and recognized as an international model,” said Vice President of Undergraduate Education, Yvonne Gaudelius. “Over the past 10 years, more than 19,000 students from 169 majors have enrolled in at least one course offered by the Centre’s Interuniversity Minor in Entrepreneurship and Innovation (ENTI). Each of Penn State’s undergraduate students at one of our campuses has access to at least three entrepreneurship courses. Undergraduate entrepreneurship is also personalized at most Penn State campuses to meet the needs of local students and network with regional entrepreneurs and business support services.
In a presentation to the Board of Trustees at its Nov. 12 meeting, Penn State President Eric J. Barron shared the impact of economic development and job creation efforts across the United States. State serving the students and citizens of Pennsylvania through a collaborative network of entrepreneurial support and resources. .
In addition to the Smeal College of Business Corporate Innovation and Entrepreneurship (CIENT) major, Penn State students have access to their choice of one of 10 different tracks for an Entrepreneurship and Innovation (ENTI) minor.
The courses develop skills, knowledge and values in problem solving, innovation, recognition of opportunities, self-efficacy, leadership, ethics, communication and learning after failure. To meet students’ wide range of entrepreneurial and innovative interests, foundation courses establish foundational knowledge, and then students select a focus group aligned with specific areas of study.
“With 10 tracks in the ENTI minor, every student is entrepreneurship-oriented,” said Anne Hoag, director of the Center for Penn State Student Entrepreneurship and associate professor at Donald P. Bellisario College of Communications. “We offer leads in areas of interest ranging from hospitality and journalism to biotechnology, art and engineering.
“We encourage our students to be entrepreneurial in all aspects of their personal and professional lives,” Hoag said. “If we can teach students to think like entrepreneurs, they will be successful no matter what effort they pursue. “
In addition to the CIENT major and the ENTI minor on the academic side, the Penn State Invent initiative acts as a driving force for Penn State’s entrepreneurial ecosystem outside of the classroom.
“Penn State students are uniquely positioned to learn the basics of starting a business and what makes a startup successful in the classroom, then head to a LaunchBox or innovation center to apply these. lessons in starting their own startup, ”said James Delattre, associate vice president of research and director of the Office of Entrepreneurship and Commercialization. “The industry knowledge provided by entrepreneurship professors and the mentoring available through the various LaunchBoxes, in combination with funding opportunities through our various pitch competitions, really prepare our students for success in their innovative endeavors. “
Launched as a Presidential Critical Priority by Barron in 2015, Invent Penn State is a Commonwealth-wide initiative to boost economic development, job creation and career success for students. Invent Penn State works alongside a student’s entrepreneurship classes, providing them with opportunities to learn from entrepreneurial mentors, discover clients, pitch their ideas, and potentially secure funding to help build their startup.
As part of Invent Penn State, 21 LaunchBoxes and Innovation Centers are integrated into Commonwealth campus communities across the state, providing a wide range of free resources that entrepreneurs and innovators need. The network offers startup acceleration programs, coworking space, mentoring opportunities, and pitch competitions to Penn State students and the wider Pennsylvania community, and has engaged more than 13,000 faculty, staff and students in just five years of existence.
“We are seeing continued success in growing new start-ups through the Invent Penn State initiative,” said Lora Weiss, senior vice president of research. “The recent success of our founding students in raising venture capital is not only the engine of economic development and job creation in Pennsylvania, but has also been a significant factor in our national ranking. ”
To view the full list of the best undergraduate programs in the United States and to learn more about this year’s ranking methodology, visit the Princeton Review webpage.
About Invent Penn State
Invent Penn State is a Commonwealth initiative aimed at stimulating the economic development, job creation and career success of students. Invent Penn State combines entrepreneurship-focused university programs, start-up training and incubation, funding for commercialization, and university / community / industry collaborations to facilitate the difficult process of transforming research findings. into valuable products and services that can benefit Pennsylvanians and mankind.