The Golden Window: Entrepreneurial Venture Creation as a Superior Mode of University Learning

This conceptual paper argues that entrepreneurial venture creation undertaken during university years generates learning outcomes that are deeper, more durable, and more labour-market relevant than traditional classroom education alone, even when ventures fail commercially. Drawing on experiential learning theory, constructivist pedagogy, entrepreneurial learning research, and labour-market signalling theory, the paper develops a bounded conceptual framework—the Golden Window—to explain why the university period constitutes a uniquely effective context for high-intensity experiential learning through venture creation. The framework identifies specific learning mechanisms (integrated problem-solving, rapid feedback, emotional engagement, metacognitive development, and judgement under uncertainty) and articulates testable propositions linking these mechanisms to employability and career outcomes. The paper contributes to entrepreneurship education and higher-education research by reframing student entrepreneurship as an educational investment rather than a career gamble, and by clarifying why learning benefits accrue independently of venture success.

experiential learning, entrepreneurial learning

1. Argote, L. (2011). Organizational learning: Creating, retaining and transferring knowledge. Springer. [Google Scholar] [Crossref]

2. Aristotle. (350 BCE/2009). Nicomachean ethics (D. Ross, Trans.). Oxford University Press. [Google Scholar] [Crossref]

3. Arrow, K. J. (1962). The economic implications of learning by doing. Review of Economic Studies, 29(3), 155–173. [Google Scholar] [Crossref]

4. Arum, R., & Roksa, J. (2011). Academically adrift: Limited learning on college campuses. University of Chicago Press. [Google Scholar] [Crossref]

5. Bacon, D. R. (2004). An examination of the long-term retention of knowledge learned in principles-ofmarketing courses. Journal of Education for Business, 79(3), 156–160. [Google Scholar] [Crossref]

6. Baker, T., & Powell, E. E. (2019). Entrepreneurship as a new liberal art. Small Business Economics, 52(2), 405–418. [Google Scholar] [Crossref]

7. Brown, A. L., & Adler, R. (2008). Minds on fire: Open education, the long tail, and learning 2.0. Educause Review, 43(1), 16–32. [Google Scholar] [Crossref]

8. Brown, J. S., Collins, A., & Duguid, P. (1989). Situated cognition and the culture of learning. Educational Researcher, 18(1), 32–42. [Google Scholar] [Crossref]

9. Coleman, J. S. (1988). Social capital in the creation of human capital. American Journal of Sociology, 94, S95–S120. [Google Scholar] [Crossref]

10. Cope, J. (2005). Toward a dynamic learning perspective of entrepreneurship. Entrepreneurship Theory and Practice, 29(4), 373–397. [Google Scholar] [Crossref]

11. Cope, J. (2011). Entrepreneurial learning from failure: An interpretative phenomenological analysis. Journal of Business Venturing, 26(6), 604–623. [Google Scholar] [Crossref]

12. Deci, E. L., & Ryan, R. M. (1985). Intrinsic motivation and self-determination in human behavior. [Google Scholar] [Crossref]

13. Plenum. [Google Scholar] [Crossref]

14. Dewey, J. (1938). Experience and education. Macmillan. [Google Scholar] [Crossref]

15. Fayolle, A., & Gailly, B. (2008). From craft to science: Teaching models and learning processes in entrepreneurship education. Journal of European Industrial Training, 32(7), 569–593. [Google Scholar] [Crossref]

16. Hake, R. R. (1998). Interactive-engagement versus traditional methods: A six-thousand-student survey of mechanics test data for introductory physics courses. American Journal of Physics, 66(1), 64–74. [Google Scholar] [Crossref]

17. Hart Research Associates. (2015). Falling short? College learning and career success. Association of American Colleges and Universities. [Google Scholar] [Crossref]

18. Hmieleski, K. M., & Carr, J. C. (2008). The relationship between entrepreneur psychological capital and new venture performance. Frontiers of Entrepreneurship Research, 28(4), Article 1. [Google Scholar] [Crossref]

19. Ibarra, H., & Barbulescu, R. (2010). Identity as narrative: Prevalence, effectiveness, and consequences of narrative identity work in macro work role transitions. Academy of Management Review, 35(1), 135– 154. [Google Scholar] [Crossref]

20. Kolb, D. A. (1984). Experiential learning: Experience as the source of learning and development. Prentice Hall. [Google Scholar] [Crossref]

21. Lave, J., & Wenger, E. (1991). Situated learning: Legitimate peripheral participation. Cambridge University Press. [Google Scholar] [Crossref]

22. Levie, J., & Gimmon, E. (2008). Mixed signals: Why investors may misjudge first-time high technology venture founders. Venture Capital, 10(3), 233–256. [Google Scholar] [Crossref]

23. Lombardo, M. M., & Eichinger, R. W. (2000). High potentials as high learners. Human Resource Management, 39(4), 321–329. [Google Scholar] [Crossref]

24. McGaugh, J. L. (2004). The amygdala modulates the consolidation of memories of emotionally arousing experiences. Annual Review of Neuroscience, 27, 1–28. [Google Scholar] [Crossref]

25. Nabi, G., Liñán, F., Fayolle, A., Krueger, N., & Walmsley, A. (2017). The impact of entrepreneurship education in higher education: A systematic review and research agenda. Academy of Management Learning & Education, 16(2), 277–299. [Google Scholar] [Crossref]

26. Obschonka, M., Silbereisen, R. K., & Schmitt-Rodermund, E. (2013). Explaining entrepreneurial behavior. Career Development Quarterly, 61(1), 67–83. [Google Scholar] [Crossref]

27. Piaget, J. (1954). The construction of reality in the child. Basic Books. [Google Scholar] [Crossref]

28. Pittaway, L., & Cope, J. (2007). Entrepreneurship education: A systematic review of the evidence. International Small Business Journal, 25(5), 479–510. [Google Scholar] [Crossref]

29. Politis, D. (2005). The process of entrepreneurial learning: A conceptual framework. Entrepreneurship Theory and Practice, 29(4), 399–424. [Google Scholar] [Crossref]

30. Politis, D. (2008). Does prior start-up experience matter for entrepreneurs' learning? Journal of Small Business and Enterprise Development, 15(3), 472–489. [Google Scholar] [Crossref]

31. Sawyer, R. K. (2006). Educating for innovation. Thinking Skills and Creativity, 1(1), 41–48. [Google Scholar] [Crossref]

32. Schön, D. A. (1983). The reflective practitioner. Basic Books. [Google Scholar] [Crossref]

33. Schwartz, B., & Sharpe, K. E. (2010). Practical wisdom. Riverhead Books. [Google Scholar] [Crossref]

34. Shepherd, D. A. (2003). Learning from business failure. Academy of Management Review, 28(2), 318– 328. [Google Scholar] [Crossref]

35. Sitkin, S. B. (1992). Learning through failure: The strategy of small losses. Research in Organizational Behavior, 14, 231–266. [Google Scholar] [Crossref]

36. Spence, M. (1973). Job market signaling. Quarterly Journal of Economics, 87(3), 355–374. [Google Scholar] [Crossref]

37. Sullivan, R., & Meek, W. R. (2012). Gender and entrepreneurship. Journal of Managerial Psychology, 27(5), 428–458. [Google Scholar] [Crossref]

38. Turner, V. (1969). The ritual process. Cornell University Press. [Google Scholar] [Crossref]

39. Ucbasaran, D., Shepherd, D. A., Lockett, A., & Lyon, S. J. (2013). Life after business failure. Journal of Management, 39(1), 163–202. [Google Scholar] [Crossref]

40. Whitehead, A. N. (1929). The aims of education. Macmillan. [Google Scholar] [Crossref]

41. World Economic Forum. (2020). The future of jobs report 2020. World Economic Forum. [Google Scholar] [Crossref]

• Entrepreneurship and Start-Up Ecosystem Vis-À-Vis Government Start-Up Scheme in Manipur: A Critical Review and a Way Forward
• Building Resilience: How Malaysian Women Entrepreneurs Use Strengths and Resources to Navigate Challenges
• Branding in Digital Entrepreneurship: Evaluating Branding Criteria in IT Entrepreneurship
• Bridging the Intention–Action Gap through Entrepreneurial Optimism: A Conceptual Exploration
• Entrepreneurial Orientation of Undergraduate Students in University Malaysia Perlis: A Conceptual Paper