The Challenges of Attracting Entrepreneurial Talent

At Santander X Explorer, we know that entrepreneurship is not an easy path;  it is often difficult to present this possibility as something attractive, as an alternative worth exploring. By examining the trends among the programme’s target audience (primarily university students in their final years or approaching graduation),  we wanted to investigate them. Recently, we shared our findings with Coordinators, Experts, and PRO Connectors—the individuals who interact directly with participants, guiding them, addressing their queries, and motivating them. Together, they form the Explorer Hub,a community that shares ideas and good practices so that the experience of these participants is at its best. We wanted to hear their opinions and points of view.

The workshop, titled Challenges in Attracting Entrepreneurial Talent: Towards New Narratives That Incorporate Emotional Well-being, delved into key findings from the GUESSS report (Global University Entrepreneurial Spirit Student’s Survey). The first and most evident takeaway was that direct entrepreneurial intention has declined in universities. But that’s not all—what other trends emerged, and what reflections and solutions can be proposed?

1. **Students prefer gaining work experience before launching their own business (employee first, entrepreneur later).**
   Solution: Position the university years as a period and a safe space for entrepreneurship. With Santander X Explorer, the cost of this opportunity is zero—there’s nothing to lose. Participants will essentially be creating their own jobs while acquiring skills that will benefit them throughout their professional lives. They will become more employable, more resourceful, and less fearful of the future. Moreover, it is crucial to dispel the myth that working for someone else means working fewer hours—impact-driven entrepreneurship prioritises self-care, which translates into working smarter, not harder.
2. **Business and Management students show higher entrepreneurial intention.**
   Solution: Highlight that entrepreneurship is not limited to those studying business-related degrees. Anyone—especially those who seek to express their creativity, improve the world, and embrace freedom and happiness—can become an entrepreneur. It goes beyond merely setting up a business; it is a mindset that should be accessible to all.
3. The gender gap is evident: men exhibit higher entrepreneurship rates than women.
   Solution: Redefine and reframe the aspirational entrepreneurial model. This also helps to dismantle another widespread myth: many perceive entrepreneurship through the lens of an anomaly—a (typically male) individual who becomes a millionaire thanks to a brilliant idea. The reality? Only 1.5% of the adult population is millionaire, yet the dominant narrative suggests that anyone can reach that level through sheer hard work and relentless effort. The numbers do not align with this hegemonic story—it is time to change the script. “The real heroes should be those of us who navigate the everyday challenges of entrepreneurship,” said Adriana Tortajada, CEO and Managing Partner of the venture capital firm Twelve Hundred VC (1200vc), during this TalkX session. This is a far more realistic (and hopeful) perspective, as it detaches entrepreneurship from the notion of extreme sacrifice.
4. Entrepreneurs (both aspiring and active) report slightly higher levels of subjective well-being than non-entrepreneurs
   Reflection: Entrepreneurship should be presented from helpless to helpful. It is essential to foster a sense of achievement, satisfaction, and purpose.
5. **Entrepreneurship education and the university environment are key factors in fostering entrepreneurial spirit.**
   Reflection: Perhaps the focus should shift away from theory—which, as some Coordinators noted, often fails to resonate—and move towards more practical learning experiences. Learning by doing is one of Santander X Explorer’s core principles, and that is no coincidence. Additionally, a trend observed within educational institutions is a lower tolerance for frustration among university students. Many expect instant gratification and have grown accustomed to immediate rewards. While this cannot be generalised, observations suggest a lack of perseverance. The challenge, then, is to offer a journey compelling enough for students to enjoy the process, rather than solely fixating on fast-tracking their projects into reality. This is yet another of our key objectives.