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A Junior Enterprise - is a nonprofit civil social organization, formed and managed exclusively by undergraduate and postgraduate students of higher education, which provides services for companies, institutions and society, under the guidance of teachers and professionals with the goal to consolidate and enhance the learning or their members. The Junior Enterprise is similar to a real company, counting with principles of corporate governance like management council and executive board, and own regulation.
- Legal entity
- Non-profit organisation
- Non-political
- Non-religious
- Fostering entrepreneurship spirit
- Managed enterily by students
- Linked to a institution of higher education
- Aiming at sustainable activity
- Fostering members development
Objectives of a Junior Enterprise
- Providing a "learning by doing" experience for students: The concept of Junior Enterprises aims to provide students of Higher Education with a unique learning by doing experience. While still in University, the students found and manage entirely their own non for profit SMEs. Related to their fields of study, the students offer different consulting services to the market, take advantage of unique learning opportunities by professional project work on the one hand and managing small- to medium- sized enterprises on the other hand.
- Bringing academic knowledge to the business world and vice versa: Adding practical experience to their theoretical skills, Junior Entrepreneurs provide businesses with state-of-art knowledge from universities.
- Fostering entrepreneurial skills: The Junior Enterprise experience helps to develop new kind of skills, needed in modern economies and societies. Developing self-confidence and experiencing entrepreneurship at an early stage is one of the many opportunities a Junior Enterprise offers. In international partnerships and conferences, Junior Enterprises are entities of multicultural learning and exchange in a conductive and competitive environment.
- Enhancing employability in a local market: Junior Enterprises are self-sustaining and self-developing organizations without little demand for external resources. They usually finance their day to day activities through projects and partnerships with local as well as with international companies. However, in order to succeed they depend on the motivation, the willingness and the commitment of the students. This is why Junior Enterprises usually attract very talented students from various fields of study. Due to this accumulation of talents in one organization, Junior Enterprises can help local companies to search for and employ talented, experienced and motivated students from one single place.
- Improving local economic and social growth: By being students, Junior Entrepreneurs are a direct way to promote the university’s brand to local companies. A high-developed Junior Enterprise will automatically improve the university’s reputation and recognition and will also help to increase the brand awareness of the university which attracts even more talented students. This is by far not the only local impact of a Junior Enterprise. Since a Junior Enterprise’s services are very requested especially by local SME’s, they help to strongly improve and support the local economy. Given the fact that 21% of former Junior Entrepreneurs start their own company within 3 years after graduation (EU average: 4-8%), Junior Enterprises are an essential motor for innovation and economic growth.
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