Startups and entrepreneurship: how to start a business during your university studies

5 min. | 10. 9. 2024

Entrepreneurship during higher education is an increasingly popular choice among young people. The combination of fresh ideas, energy and flexible time can be the ideal environment to launch your own startup. It can seem challenging when you have to focus on exams, projects and studying at the same time, but college can offer the perfect conditions to kick-start an entrepreneurial career. How to do it?

University is a place where you will meet countless inspiring people - from classmates, to professors, to experts at various lectures and workshops. These contacts can be crucial to getting your business off the ground. Classmates can be your future partners or collaborators, professors can be advisors and experts can be great mentors.

In addition, many universities offer programs aimed at supporting entrepreneurship, which may include incubators, accelerator programs or startup competitions where you have the opportunity to get not only funding but also valuable advice and feedback.

Studying at university provides you with a unique opportunity to gain a wide range of knowledge that can be essential for business. Even if you're studying economics, use electives to broaden your horizons - for example, enrol in courses in programming, marketing, law or design. The startup world requires diverse skills, and the more you have, the better you'll be able to respond to the challenges of entrepreneurship.

One of the biggest challenges of running a business while studying is time management. Studies, projects and business activities can be very time consuming. It's important to divide your time so that you can manage to fulfill your school obligations while also focusing on developing your startup. Create a detailed plan, prioritize and be disciplined. The key to success is regularity and effective time management.

Starting a business does not necessarily mean starting a big project with dozens of employees and huge investments. On the contrary, it is better to start small. Try out the idea in practice, test it on a small sample of customers, get feedback and scale up gradually. This way you minimize the risk of failure and gain valuable experience.

You can start freelancing, offering services or products that interest you personally, and gradually expand your activities. The important thing is to get started and not be afraid to fail, because failure is also an integral part of the entrepreneurial journey.

Financing is often one of the main obstacles to starting a business. As a student, you have several options to get financial support:

• Competitions and grants for students: Many universities and extracurricular organisations offer competitions and grants aimed at supporting student entrepreneurship projects.
• Business incubators: Some universities run their own incubators that provide support to students in the form of mentoring, space or funding.
• Crowdfunding: Platforms like Kickstarter or Indiegogo are a great way to get funding for your project directly from people who are interested in it.
• Angel investors and venture capital: If your project promises high growth potential, you can look for angel investors or venture capital funds.

Entrepreneurship is a journey full of obstacles and setbacks. Especially in the beginning, it can be hard when things don't go according to plan. It's important to be patient and see setbacks as learning opportunities. Every mistake brings you closer to success if you analyse it correctly and learn from it.

It is crucial to find a balance between study and business. Managing both spheres at the same time can be very challenging, but it can also give you valuable experience and skills that you will need in the future. Set realistic goals that will allow you to grow gradually while fully committing to school.