A student enterprise can be defined as where Students engage with real Industry practise while at a Higher Education Institution (HEI). i.e. student enterprises exist at the crossover of the three areas:
The forms of student enterprises include spin out commercial companies, company-like entities within an HEI and curriculum/industry linked projects. There are examples of each across the IoC, with differing aims and relationships between the students and industry partners.
Based on a literature review, five ‘archetypes’ of student enterprises can be identified, as shown in the EPIC² model:
Students experience work, and often earn, within a professional environment; grades are rarely earned and internships are often extra curricular and awarded after a recruitment process.
Either a prize can be won for attainment - or a Scholarship can be won to fund the best proposal.
Innovation processes, such as Lean Startup, are practised that aim to discover sustainable enterprises where none are currently known to exist.
All students on a module engage with (typically) domain expert clients to clarify/satisfy their requirement/s. Students ‘earn’ marks for their module/course based on an assessment of their deliverables, reflection and evidence of quality processes being followed.
Students initiate/add to community projects that aim to benefit others, e.g. through open source projects, or as specific projects to assist individuals or communities.