Supporting Young STEM Entrepreneurs
Deficit in STEM Workforce Preparation
. About 60% of students felt their education did not prepare them for a career, resulting in the "leakage" of STEM graduates to non-STEM careers.
. Lack of investment in workforce training is aggravating the skills gap and talent acquisition especially for small businesses.
Insufficient Diversity in Biotech
. Biotech industry lacks diverse representation especially in executive level where over 80%of CEOs in biotech industry are white men.
Lack of Entrepreneurial Education
. Over 60% of college graduates want to start their own business, but were not educated in business fundamentals.
. As a result, entrepreneurs who are 20-30 years old accounted for only 7% out of all age groups in 2022.
Unpaid Internship & Apprenticeship is a Significant Barrier for Underrepresented and Diverse Students.
. Underrepresented and diverse students experience greater student debt burdens while pursuing higher education and often take jobs irrelevant to their professional career development.
. Paid internship or apprenticeship experience is a critical first step in launching their career, it allows them to negotiate for a higher starting salary and leverage their experience as a desirable candidate during talent acquisition.
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