Entrepreneurial education in the 21st century: evaluating the efficacy of models

Entrepreneurship overcomes the barriers and obstacles of class, race and gender (Aldrich et al., 1983; Hyrsky and Ali, 1996). Widespread entrepreneurship is fundamental to the creation and stabilisation of democracy and is essential to the creation of a middle class and avoidance of extreme polarisation between rich and poor (Kowalik, 2001). It is a vital component of national economic growth and development (Acs, Audretsch, Braunerhjelm and Carlsson, 2005; Carree and Thurik, 2003). Entrepreneurship encourages action, promotes job creation, consequently, improving the overall well-being of the entire country (Bednarzik 2000; Keister 2000). Entrepreneurial undertakings are an art and a science (Kasarda, 1992; Bridge et al., 1998). It is holistic, dynamic, unique and sensitive to a number of antecedent variables (Hofer and Bygrave, 1992). Despite the lack of a consensus on entrepreneurship two alternative perspectives on entrepreneurial education can be distinguished: (i) the American and (ii) European views. In America, it is very common to concentrate training efforts on specific steps in the firm creation process. Contrary, in Europe, where researchers cannot agree on the concept or the objectives that this kind of education should pursue (OECD, 1999; European Commission, 2003), the main objective is often more general concentrating on developing entrepreneurial personality and a concept of enterprise (Acs and Audretsch, 1990; Wennekers and Thurik, 1999)