Effects of entrepreneurial orientation and external business environment on entrepreneurial intentions of STEM students in Nigeria

Abstract: Purpose of the study: This study investigates the effects of entrepreneurial orientation, entrepreneurship education, and external business environment on entrepreneurial intention of Science, Technology, Engineering, and Mathematics (STEM) students attending a federal university in southwestern Nigeria. This inquiry was conducted by exploring the one hundred and fifty students selected from six relevant faculties in the university. Design/methodology/approach: The main research instrument was a set questionnaire designed to elicit entrepreneurial orientation, entrepreneurship education, entrepreneurship infrastructure, and entrepreneurial intention. Descriptive and inferential statistics (partial regression) were used to determine the relationship between entrepreneurial intention and the other variables. Findings: The findings identified that while entrepreneurship orientation and entrepreneurship education are more closely associated with entrepreneurship intentions, and entrepreneurship education was the most important driver of entrepreneurship intentions among STEM students. The study also established that the entrepreneurial ecosystem of the STEM students is somewhat weak thus having little of no influence on driving entrepreneurial interest among the STEM students. Recommendations/value: The study thus concludes that theoretical knowledge from business schools, combined with practical knowledge from incubators, workshops, laboratories, and technology transfer offices, are necessary for stimulating entrepreneurship intentions among the STEM students. Managerial implications: It was established in the study taking entrepreneurship modules or degrees such as MBA at the university and spontaneous exposure to entrepreneurship education have a lot of influence on the build-up of entrepreneurial interest among STEM students. It also established that effective entrepreneurial learning can also occur through science parks, incubators, workshops, laboratories, and technology transfer offices. Thus, Universities need to encourage and support STEM students by exposing them harnessing the different channels of entrepreneurial learning