Continuing our series of scholar blogs, here’s a post from Nicolás Argüello , another of our Skoll Scholars for 2013-14.
Nicolás is co-founder and director of Mentores Solidarios, an education-focused nonprofit in Nicaragua that provides full scholarships, one-to-one mentorship, leadership training, job skills, and college transition assistance to over 300 impoverished yet academically exceptional students.
“Starting a business as an MBA student has many advantages. You get free, top-quality advice and mentoring from expert professors and accomplished classmates. Class projects can be used to develop your idea and refine your business plan. You can analyze strategy frameworks and financing schemes in terms of how they can best be applied to your business model. And since you’ve already decided to forgo a salary for the program’s duration (a deterrent to many aspiring entrepreneurs), you might as well invest your free time in developing your business instead of participating in career-related clubs, events and workshops—a massive time-sink for most MBA students.
However, not all MBA programs are the same. The degree to which business schools support entrepreneurs varies considerably. Whereas some schools offer few entrepreneurship-related opportunities, others have robust entrepreneurship programs. Yet, even in this latter category, there are top-performers that are in a league of their own. Such is the case for the Saïd Business School at the University of Oxford.
In my opinion, the Business School provides exceptional support to students that want to start a new business. The Entrepreneurship Centre offers skill-building programs such as ‘Building a Business’ and the ‘Lean LaunchPad’. The Skoll Centre for Social Entrepreneurship provides access to leading social innovation research, a vast network of social entrepreneurs across the world, and expert mentoring. The SBS Seed Fund helps entrepreneurs with great ideas to launch their businesses by providing early stage venture capital and considerable post-investment business support. The Entrepreneurship Project, part of the MBA program, allows you to work with classmates to develop a business plan and pitch it at an investor forum. You can then use the eight-week Strategic Consulting Project, also part of the MBA curriculum, to do market research and further develop your venture. The list goes on. All of these initiatives come together to create a truly remarkable ecosystem for entrepreneurs. And as an added bonus that not many other schools can claim, many of the world’s leading experts (in all kinds of academic subjects) are minutes away. Whether you want to start an off-grid solar energy distributor, a game-based learning startup or a financial services company (to name a few of the businesses that Oxford MBA graduates have recently launched), chances are you’ll find the support you need.
I came to Oxford to start a social enterprise and I cannot imagine a better place to do so. Staff at the Skoll Centre have been incredibly supportive and inspiring. They’ve put me in touch with other social entrepreneurs, given me great ideas (as well as much-appreciated critical feedback), and offered me working space, whiteboards, and all the post-its I need to brainstorm ideas and lay the foundations for my business. When I came to Oxford, I knew that I wanted to start a business, but I didn’t have a concrete idea. All I knew was that I wanted to return to Nicaragua and do something in the field of education. Thanks largely to all the support I’ve been given, I now have a very clear idea for a social enterprise: a technical school to provide job skills to unemployed youth in Nicaragua.