The Role of Motivation and Academic Preparation for the Students’ Entrepreneurial Potential

Abstract

Motivations, psychological and sociodemographic characteristics, and “hard and soft conditions” (Porfírio et al. 2016) emerge as the major factors that lead to entrepreneurial success, despite the distinctive diversity of skills associated with its potential. From the perspective of Santos (2008), entrepreneurial potential is a construction based on three dimensions: (1) realization, which is related to the recognition of opportunities, persistence, and effectiveness (Ramalho et al. 2022); (2) planning, which concerns the definition of objectives, search of information, and continuous and permanent control; and (3) power is identified through persuasiveness and relationship building. In addition, it also comprises a complementary dimension: the (entrepreneurial) intention, which is associated with the entrepreneurial desire (Asif 2022; Rehman et al. 2023; Souza et al. 2016; Valeri 2021). Moreover, according to Schlepphorst et al. (2020), intention can be influenced by a set of different motivations, which can trigger an effective behavior. Hence, entrepreneurial motivations are a determinant of entrepreneurial intention (Lang and Liu 2019). For instance, the study conducted by Asif (2022) explained that, for female, intention is a very important motivational force, as it impels them to achieve their long-term goals in an autonomous and stable way. In turn, authors such as Santos et al. (2013) point out four main differentiating characteristics of the entrepreneur, evidence that the literature has corroborated over the years: entrepreneurial motivations (Chell 2008; Hasan et al. 2021a), psychological skills (Marvel and Lumpkin 2007; Rodríguez 2022), social skills (Baron and Tang 2009; Klyver and Arenius 2020), and management skills (Asif 2022; Chell 2008).

Full text

International Studies in Entrepreneurship
MarcoValeriEditor
Entrepreneurial
Motivations
Strategies, Opportunities and Decisions

57© The Author(s), under exclusive license to Springer Nature Switzerland AG 2024
M. Valeri (ed.), Entrepreneurial Motivations, International Studies
in Entrepreneurship 57, https://doi.org/10.1007/978-3-031-54435-4_4
The Role ofMotivation andAcademic
Preparation fortheStudents’
Entrepreneurial Potential
LiseteMónico, ClaraMargaça, CarlaCarvalho, SoaDanielaCastroda
Silva, andPedroMiguelParreira
1 Introduction
Motivations, psychological and sociodemographic characteristics, and “hard and
soft conditions” (Porfírio etal. 2016) emerge as the major factors that lead to entre-
preneurial success, despite the distinctive diversity of skills associated with its
potential. According Santos (2008), entrepreneurial potential is a construction based
on three dimensions: (1) realization, which is related to the recognition of opportu-
nities, persistence, and effectiveness (Ramalho etal. 2022); (2) planning, which
concerns the denition of objectives, search of information, and continuous and
permanent control; and (3) power is identied through persuasiveness and relation-
ship building. In addition, it also comprises a complementary dimension: the (entre-
preneurial) intention, which is associated with the entrepreneurial desire (Asif 2022;
Rehman et al. 2023; Souza et al. 2016; Valeri 2021). Moreover, according to
Schlepphorst etal. (2020), intention can be inuenced by a set of different motiva-
tions, which can trigger an effective behavior. Hence, entrepreneurial motivations
are a determinant of entrepreneurial intention (Lang and Liu 2019). For instance,
the study conducted by Asif (2022) explained that, for female, intention is a very
important motivational force, as it impels them to achieve their long-term goals in
an autonomous and stable way. In turn, authors such as Santos etal. (2013) point out
L. Mónico · C. Carvalho · S. D. C. da Silva
Faculty of Psychology and Educational Sciences, University of Coimbra, Coimbra, Portugal
e-mail: lisete.monico@fpce.uc.pt; ccarvalho@fpce.uc.pt
C. Margaça (*)
Faculty of Psychology, University of Salamanca, Salamanca, Spain
e-mail: claramargaca@usal.es
P. M. Parreira
The Nursing School of Coimbra, Coimbra, Portugal
e-mail: parreira@esenfc.pt

58
four main differentiating characteristics of the entrepreneur, evidence that the litera-
ture has corroborated over the years: entrepreneurial motivations (Chell 2008;
Hasan etal. 2021a), psychological skills (Marvel and Lumpkin 2007; Rodríguez
2022), social skills (Baron and Tang 2009; Klyver and Arenius 2020), and manage-
ment skills (Asif 2022; Chell 2008).
Entrepreneurship is considered to be a complex process and dependent on differ-
ent contingencies and family (e.g., family business), social (e.g., networking), polit-
ical, and economic contexts. Furthermore, this phenomenon can be understood as
the ability to design something innovative with creativity and motivation. In recent
years, creating an entrepreneurial activity has become a necessity, on the one hand,
especially considering the competitiveness of markets and high unemployment
rates. On the other hand, this socio-economic phenomenon generates new jobs and
boosts economic growth. Moreover, the entrepreneur is a game-changer and trans-
forms, applies the acquired knowledge and experience, creates value, and, in addi-
tion, disseminates this innovative product, often achieving nancial rewards and
personal satisfaction. However, the reverse side of the coin brings the confrontation
of psychological, nancial, and social risks.
One of the rst challenges to create a business is to be motivated. Motivation
moves people to act, think, and develop. In this sense, motivational orientations
(Brown and Ryan 2004; Murnieks etal. 2019) guide (entrepreneurial) behavior and
are the basis of the theory of self-determination. According to Robbins (2005),
“motivation is the willingness to exert high levels of efforts toward organizational
goals, conditioned by the effort ability to satisfy some individual need” (p.132).
Motivation is a state that assists in describing the process that leads individuals to
engage in entrepreneurial behavior. In this sense and according to Parreira etal.
(2018), in addition to identifying the typical personality traits of entrepreneurs, it is
equally necessary to understand what truly motivates a person to create an entrepre-
neurial activity. In this sense, it is worth highlighting the pioneering study carried
out by McClelland (1965) that, after a few years, attested that the motivations for
success of university students were related to their career choice, demonstrating that
those with higher levels were now entrepreneurs.
Opportunity and autonomy are considered universal motivations. Therefore, the
Global Entrepreneurship Monitor (GEM) report sought to establish a broader rela-
tionship on the reasons that lead the individual to become an entrepreneur: (1) to
make a difference in the world, (2) to build great wealth or very high income, (3) to
continue a family tradition, and (4) to earn a living because jobs are scarce (Bosma
etal. 2020). Motivations can vary substantially between different economies, which
may have a “motivation prole.” According to this report, the highest motivations of
Portuguese entrepreneurs were “to earn a living because jobs are scarce” (54.4%
TEA), followed by “to build great wealth or very high income” (43.6% TEA).
According the GEM Report 2019–2020 (Bosma etal. 2020), in terms of providing
entrepreneurship education at the school stage, Portugal scores a value of 2.63 (40th
out of 54), which is below the global average (3.3), and for the provision of entre-
preneurship education at post-school level, this country scores 4.64 (28th out of 54),
which is also below the global average (4.8). Higher education institutions play a
decisive role in stimulating autonomy, persistence, determination, and exibility,
L. Mónico et al.

59
which are central characteristics of entrepreneurial action (Barros 2015). According
to Preedy and Jones (2015), there is a clear concern of governments regarding pro-
grams to support entrepreneurship at the university level.
Education is an antecedent and a vehicle for the promotion of entrepreneurial
behavior, through the development of individual skills, such as the ability to make
decisions, competence, condence, and goal setting. As important as the assessment
of intentions is to provide quality entrepreneurial education to promote their devel-
opment (Anwar etal. 2020), transforming intention into real behavior, as well as to
enhance individual skills (Lindberg etal. 2017). For instance, participation in entre-
preneurship education programs (Asimakopoulos etal. 2019) can increase entrepre-
neurial desire (Ali etal. 2023; Peterman and Kennedy 2003) and entrepreneurial
intention (Lingappa etal. 2023; Souitaris etal. 2007). Considering that the entrepre-
neurial culture can be developed, that is, not innate, it is crucial to prioritize the
implementation of support (eco)systems and models of entrepreneurship education.
The study by Hasan etal. (2021a) attested that entrepreneurship education increases
entrepreneurial motivation and, consequently, inuences students’ intention to cre-
ate an entrepreneurial activity and assume that entrepreneurial motivations mediate
the relationship between entrepreneurial education and intention.
The entrepreneur is able to breathe life into the economy, increase competitive-
ness and innovation, and, in addition, promote social and technological develop-
ment (e.g., Fayolle et al. 2016). An entrepreneur has certain distinguishing
characteristics, such as creativity, innovation, and ability to take risks, and accord-
ing to Lindberg etal. (2017), entrepreneurial education can enhance them. The cen-
trality of the individual entrepreneur is the basis of entrepreneurship education,
especially in higher education institutions, which have been exponentially creating
and implementing entrepreneurial training activities in their action plans, with the
ultimate goal of training active entrepreneurs, going beyond theoretical knowledge
(Shekhar and Valeri 2023). For instance, Hasan etal. (2021b) conducted a study on
the roles of entrepreneurial orientation and entrepreneurship education through the
mediation of entrepreneurial motivations. And the results led to the conclusion that
entrepreneurship education facilitates both individual entrepreneurial orientation
and entrepreneurial motivations and also has a positive association with entrepre-
neurial intention.
The aim of this study is to evaluate the impact of entrepreneurial motivations on
the entrepreneurial potential of polytechnic higher education students in Portugal. It
should be noted that this is a research inserted in a broader project, which is still
under development.
1.1 Family andSocietal Motivations
Family-related factors, classied as push, relate to the difcult combination between
employment and domestic work, family obligations, or the desire for family balance
(Kirkwood and Walton 2010). The family can be considered the rst natural
The Role of Motivation and Academic Preparation for the Students’ Entrepreneurial…

60
incubator in which entrepreneurial ideas are conceived, where individual inspira-
tions for business are stimulated, guided, and transformed (Lansberg and Jaramillo
2021). The family environment is decisive for the decision of becoming an entrepre-
neur. Although the inuencing factors are changeable, individuals who descend
from a family with entrepreneurial traditions are highly more likely to embark on an
entrepreneurial career (e.g., Altinay etal. 2012; Carvalho etal. 2019; D’Allura
2019; Vicente etal. 2019). This type of motivation can be categorized as an extrinsic
and recognition motivation (Miller etal. 2012). Family motivations can be under-
stood as the possibility of “continuing or expanding the family business” and “using
family experience or inuence.” Several studies (e.g., Teixeira etal. 2011; Singla
and Levasseur 2022) on the life stories of entrepreneurs point to family models or
those of the social and cultural environment as determinants of entrepreneurial
intention. Moreover, family-related factors can inuence the ability to recognize
strategic opportunities (Singla and Levasseur 2022). In this sense, the proximity
capital, coming from the rst social group of individuals, positively inuences their
immersion in the entrepreneurial universe. In sum, the presence of enterprising fam-
ily members is one of the rst steps towards having entrepreneurial motivation
(Chrisman etal. 2012). However, it is important to point out that, in these situations,
it is difcult to determine if potential entrepreneurs have this determination, or they
are looking for “social approval.”
1.2 Prestige Motivations
Having prestige through work is important for young entrepreneurs (Martins etal.
2020), due to it is directly associated with recognition, which, in turn, satises the
entrepreneurs’ need for achievement. The entrepreneurs are highly motivated
because there is the expectation that they will be recognized for their talent. For
young entrepreneurs, having prestige proves to be an important motivation. Prestige
is directly associated with recognition, which, in turn, satises entrepreneurs’ need
for achievement (Anderson and Jack 2000; Martins etal. 2020; Staniewski and
Awruk 2019) and related to entrepreneurial intention (Upadhaya and Chadha 2019).
Considering the prole of entrepreneurs, many do their best to be recognized for it.
In this sense, entrepreneurial activity constitutes a way of obtaining prestige through
work, as young entrepreneurs stand out in their eld of activity. In this sense, there
is a greater motivation derived from the recognition and prestige arising from the
business, which has an impact on the motivation of entrepreneurs to continue and
expand their enterprise (Cunha etal. 2020).
L. Mónico et al.

61
1.3 Resource andIncome Motivations
Periods of economic crisis and, more recently, the pandemic critical situation, con-
trary to expectations, tend to stimulate the emergence of entrepreneurs who intend
to guarantee their livelihood—opportunity entrepreneurs (GEM 2017). The motiva-
tion of these entrepreneurs lies in their skills and with a focus, a means-end structure
(Fialho etal. 2018; Simons etal. 2004), essentially, on guaranteeing a source of
income. Although not the main one, the pursuit of prot is a prime motivator for an
individual to decide to follow the entrepreneurial path. Moreover, it is recurrent that
income motivations dominate the internal reward motivations related to indepen-
dence, autonomy, and intrinsic factors. The literature is not consistent with regard to
resource and income motivations. If, on the one hand, income can be the main factor
for starting a business (mostly in low-wage or underdeveloped countries), on the
other hand, personal needs and self-satisfaction prevail (recurrently a fact of wom-
en’s entrepreneurial motives). These differences may be due to social and political
realities, where the entrepreneurial potential is inserted.
1.4 Learning andDevelopment Motivations
The continuous learning process is essential to pass with distinction all the stages
underlying the process of creating a company, because this process prepares the
individual for competitiveness and for the impact on family, social, cultural, and
political life. In this sense, the acquisition of skills (e.g., theory, reection, experi-
ence) throughout life makes it possible to set real goals and act accordingly based
on experiences. Learning and development experiences can change and inuence
motivation. Learning and development motivations are characterized by the value
that the individual attributes, intrinsically, to their accomplishments and determi-
nation to achieve goals. Entrepreneurial skills can be acquired through entrepre-
neurship education at university (Nabi etal. 2017). According to Wiedeler and
Kammerlander (2019), entrepreneurship education fosters the ability to deal with
ambiguity and is a prerequisite both for starting an entrepreneurial activity and for
its success. Further, these motivations allow entrepreneurs to continuously improve
their performance, as well as improve their learning outcomes (Lingappa
etal. 2023).
The Role of Motivation and Academic Preparation for the Students’ Entrepreneurial…

62
2 Method
2.1 Sample
The convenience sample was stratied by 3 or 4years of undergraduate degrees in
four areas of knowledge: health, management, STEM, and social sciences. The nal
sample consists of 6532 students (34.2% male and 64.3% female) aged between 17
and 57years (M=22), from 17 Portuguese polytechnic higher education institu-
tions. Regarding the study area, the majority (27.6%) of the participants are in the
health area, and 34.4% attend the second year and 31.4% the rst year. It should be
noted that only 16.6% of respondents are student workers, and these data are shown
in Table1.
The present work was designed to survey students from the various elds of
study of the several integrated and nonintegrated schools of Portuguese polytechnic
higher education, participants in the Poliempreende competition. Table2 shows a
geographic characterization of each of the polytechnic higher education institutions.
Table 1 Sociodemographic characterization (N=6532)
n %
Sex
Male
Female
No answer
1117
2099
50
34.2
64.3
1.5
Marital status
Single
Married
Divorced
Nonmarital partnership
No answer
2910
54
197
51
54
89.1
1.7
6.0
1.6
1.6
Study area
Health
STEM
Social sciences
Management
No answer
903
805
664
771
123
27.6
24.6
20.3
23.7
3.8
Course (year of attendance)
First
Second
Third
Fourth
No answer
1027
1122
818
247
52
31.4
34.4
25.0
7.6
1.6
Laboral situation
Student
Student worker
No answer
2260
551
55
81.4
16.9
1.7
L. Mónico et al.

63
Table 2 Geographic characterization
n % Region of Portugal
Polytechnic institution
PI Beja
PI Bragança
PI Castelo Branco
PI Cávado e Vale do Ave
PI Coimbra
PI Guarda
PI Leiria
PI Lisboa
PI Portalegre
PI Porto
PI Santarém
PI Setúbal
PI Viana do Castelo
PI Viseu
PI Tomar
ESEnfC
EST-UAlgarve
226
130
173
158
260
241
241
156
67
227
251
197
254
271
95
85
234
6.9
4.0
5.3
4.8
8.0
7.4
7.4
4.8
2.1
7.0
7.7
6.0
7.8
8.3
2.9
2.6
7.2
Baixo Alentejo
Trás-Os-Montes and alto Douro
Beira Baixa—Central region
Minho—North region
Coastline—Central region
Beira Alta—Central region
Coastline—Central region
Lisbon and Tejo Valley
Alto Alentejo
Douro Litoral—North region
Ribatejo
Lisbon and Tejo Valley
Minho—North region
Beira Alta—Central region
Ribatejo
Coastline—Central region
Algarve
2.2 Instruments andFormal andEthical Procedures
The Questionnaire of Personal Motivations and Factors Facilitating
Entrepreneurship (MPFFE, acronym in Portuguese) (Parreira etal. 2011, 2016,
2018) was used, which consists of several scales. The construction and validation of
this instrument was based on the question: what is the entrepreneurial potential of
Portuguese polytechnic higher education students? Its development was based on
the reasons for creating an entrepreneurial activity, social and environmental inu-
ences, and support. The nal version consists of 23 items. For this study, data were
collected from the entrepreneurial motivation scale (α=0.886), which is composed
of four factors: F1, family and societal achievement motivations (α=0.836); F2,
prestige motivations (α=0.774); F3, resource and income motivations (α=0.771);
and F4, learning and development motivations (α=0.648). In addition, academic
preparation, regarding the prospect of working on their own and creating an entre-
preneurial activity, entrepreneurial potential, and entrepreneurial desire measures
also were used. All measures are Likert-type (1, less important, and 5, very
important).
For the present study, three composite scores were calculated: (1) entrepreneur-
ial potential, which was operationalized through the sum of three statements (I nd
entrepreneurship attractive; as an entrepreneur, I would achieve my goals in life;
and as an entrepreneur, I would be satised with my work); (2) academic prepara-
tion to be an entrepreneur (my course prepares me to work on my own [self-
employed], and my course prepares me to create my own company); and (3)
entrepreneurial desire (my desire to work on my own [self-employed], and my
desire to create my own company). These statements were measured using a Likert-
type scale in which 1=less important and 5=very important.
The Role of Motivation and Academic Preparation for the Students’ Entrepreneurial…

64
In addition, a sociodemographic questionnaire was also applied, with a special
focus on gender, the student prole, and the year course. When applying the ques-
tionnaires, all ethical assumptions were ensured, namely, informed consent and
condentiality and anonymity. Besides that, it was ensured positive advice for this
study by the Commission on Ethics and Deontology of the Research carried out by
the Faculty of Psychology and Education Sciences of the University of Coimbra in
an extraordinary meeting.
2.3 Statistical Analysis
Data were processed with IBM SPSS Statistics version 26.0. The existence of outli-
ers was assessed using the Mahalanobis squared distance (Tabachnick and Fidell
2013), and no relevant extreme values were found. The missing values, all MCAR,
were replaced by the series mean method. Intercorrelations using Pearson’s correla-
tion coefcient were performed. In order to assess the extent to which entrepreneur-
ial motivations can act as a predictor of entrepreneurial potential, an analysis of
hierarchical multiple rules was carried out.
3 Results
Table 3 shows the descriptive statistics and the intercorrelation matrix of the vari-
ables under study. The participants had higher mean values in the family and soci-
etal achievement motivations and learning and development motivations. The
entrepreneurial potential score had the highest average (M=11.17), standing above
the midpoint (9 points). Considering that the reference values are the same, it was
found that the entrepreneurial potential of students exceeds their entrepreneurial
desire, t(6429)=146.12, p<0.001. The academic preparation presented an average
higher than the midpoint (5.6 points). Finally, the average score for the desire to be
an entrepreneur is below the midpoint (9 points).
All correlations proved to be statistically signicant, with the lowest correlations
being between family and societal achievement motivations and academic prepara-
tion (r=0.12) followed by correlations between prestige motivations and academic
preparation or entrepreneurial desire (r=0.13). It is possible to verify that the
prestige motivations present a strong positive correlation with the resources and
income motivations (r=0.57), followed by the correlation between family and soci-
etal achievement motivations and prestige motivations (r=0.46). It is also possible
to highlight the correlations between entrepreneurial potential and learning and
development motivations (r=0.36) and between academic preparation and entre-
preneurial desire (r=0.42), which, despite being considered moderate, have special
relevance for the study.
L. Mónico et al.

65
Table 3 Descriptive statistics and matrix of intercorrelations between the measurements under study (R2 in parentheses)
Min Max M SD 1 2 3 4 5 6 7 8
1. MPFFE—Total scale – – 3.75 0.55 1 0.80**
(0.64)
0.79**
(0.63)
0.78**
(0.61)
0.61**
(0.37)
0.18**
(0.03)
0.29**
(0.08)
0.23**
(0.05)
2. Family and societal
achievement motivations
1 5 4.11 0.69 1 0.46**
(0.21)
0.45**
(0.20)
0.44**
(0.19)
0.12**
(0.01)
0.21**
(0.04)
0.18**
(0.03)
3. Prestige motivations 1 5 3.44 0.82 1 0.57**
(0.32)
0.29**
(0.08)
0.13**
(0.01)
0.17**
(0.02)
0.13**
(0.01)
4. Resource and income
motivations
1 5 3.26 0.81 1 0.27**
(0.07)
0.15**
(0.02)
0.18**
(0.03)
0.15**
(0.02)
5. Learning and development
motivations
1 5 4.09 0.59 1 0.18**
(0.03)
0.36**
(0.13)
0.28**
(0.07)
6. Academic preparation 2 10 6.11 1.97 1 0.21**
(0.04)
0.42**
(0.17)
7. Entrepreneurial potential 3 15 11.17 2.11 1 0.35**
(0.12)
8. Entrepreneurial desire 2 10 6.63 2.27 1
*p≤0.05;**p≤0.01;***p≤0.001
The Role of Motivation and Academic Preparation for the Students’ Entrepreneurial…

66
Table 4 Multiple and hierarchical regression of predicted entrepreneurial potential from
entrepreneurial motivations controlling the effects of academic preparation and the
entrepreneurial desire
r2R2aj ∆R2b SE βt sig. F
Model 1
Academic preparation
0.05 0.05 – 0.233 0.01 0.22 17.83 0.000 317.763,
p<0.001
Model 2
Academic preparation
0.13 0.13 0.09 0.09 0.01 0.08 6.40 0.000 617.924,
p<0.001
Entrepreneurial desire 0.30 0.01 0.32 24.86 0.000
Model 3
Academic preparation
0.21 0.21 0.08 0.06 0.01 0.06 4.46 0.000 158.272,
p<0.001
Entrepreneurial desire 0.23 0.01 0.25 19.51 0.000
Family and societal
achievement motivations
0.06 0.04 0.20 1.36 0.174
Prestige motivations 0.07 0.04 0.03 1.89 0.058
Resources and income
motivations
0.11 0.04 0.04 3.09 0.002
Learning and development
motivations
0.92 0.05 0.26 20.13 0.000
With the aim of evaluating to what extent entrepreneurial motivations can act as
a predictor of entrepreneurial potential, a hierarchical multiple regression analysis
was performed. Entrepreneurial potential was considered as a criterion variable and
the four factors of entrepreneurial motivations as predictor variables. The effect of
academic preparation and the entrepreneurial desire were controlled.
In model 1, academic preparation explained only 5% of the entrepreneurial
potential of the presented sample. By adding the entrepreneurial desire as predictor,
the model now explains, together with academic preparation, 13% of entrepreneur-
ial potential, which means that there was an increase of 8% in relation to the previ-
ous model. In model 3, when entrepreneurial motivations are added, the percentage
explained rises to 21%. However, both prestige motivations and resources and
income motivations did not reveal a predictive capacity for entrepreneurial poten-
tial. The family and societal achievement motivations and the learning and develop-
ment motivations showed the greatest predictive abilities (β=0.020 and β=0.026,
respectively). The entrepreneurial desire was also one of the most robust predictors
in model 3 (β=0.25). Although with a weaker β (β=0.06), academic preparation
remained signicant, in the presence of the entrepreneurial desire and all the entre-
preneurial motivations. All these ndings can be analyzed in Table4.
4 Discussion
The term entrepreneurial potential has been dened in different ways in the litera-
ture, using several psychological dimensions and personality traits identied as dis-
tinctive of entrepreneurs (e.g., Chell 2008). In this sense, the main objective of this
L. Mónico et al.

67
chapter was to evaluate the predictive effect of entrepreneurial motivations on entre-
preneurial potential. For this purpose, rstly, a matrix of intercorrelations between
measures was elaborated, which revealed more signicant intercorrelations between
family and societal achievement motivations and learning and development motiva-
tions with the entrepreneurial potential. These results indicate that Portuguese poly-
technic students perceive that the entrepreneurial motivation does not come from
resources and income and even less from the prestige and status they may have in
society, but from other sources, such as learning, achievement, following a family
business and having a relevant role in society (not prominent or associated with
prestige, necessarily).
The students surveyed are more driven to create an entrepreneurial activity when
they have a business family tradition, or to feel fullled and independent, demon-
strating a motivation for continuous learning and self-development, and not because
they intend to obtain prestige, wealth, or a high status in society. Stability, personal
development, and acting in favor of society are more relevant than the resources
they have and the income they can obtain through the creation of their own business.
These ndings are corroborated by the study of Riar etal. (2022), who conclude that
the entrepreneurial potential has its main impulse in the entrepreneurial family,
especially through family support, socio-emotional factors, and transgenerational
intention (D’Allura 2019).
In order to understand the predictive capacity of the entrepreneurial potential, a
hierarchical multiple regression was performed. This analysis conrmed that family
and societal achievement motivations and learning and development motivations
are the best predictors of entrepreneurial potential, followed by the entrepreneurial
desire, which also proved to be a robust predictor in model 3. Considering what was
stated by Lingappa etal. (2023), it is possible to infer that entrepreneurs with a
strong drive for self-directed learning develop entrepreneurial skills and are
successful.
5 Conclusions
This chapter demonstrated how the different motivations inuence students’ entre-
preneurial potential. According to Bergh etal. (2011), the academy provides young
people with a favorable context for exploring opportunities and a better perception
of their skills. The fact is that contextual variables such as culture, education, and
experiences are factors that inuence the development of entrepreneurial skills and
the entrepreneurial desire (Souza etal. 2016; Testas and Moreiras 2014). In this
sense, for an accurate assessment of the motivations underlying the entrepreneurial
potential, a holistic approach to them becomes imperative (Donaldson etal. 2023).
Considering that family and societal achievement motivations were one of the
most relevant, it should be noted that social resources and reputation can play a
decisive role in motivating individuals. Family is the rst school of values, the rst
educational model and social system (Narmaditya and Sahid 2023). When the
The Role of Motivation and Academic Preparation for the Students’ Entrepreneurial…

68
(professional) family trajectory is successful, it becomes a reference for a succes-
sor’s decision to become an entrepreneur (Carvalho etal. 2019; Vicente etal. 2019).
The family model can motivate interest in reproducing businesses or creating their
own, as well as social status and upward mobility. In addition, young entrepreneurs
whose family motivation is the basis of their decisions nd in family the strength to
face the challenges and barriers inherent to entrepreneurship.
Having sufcient knowledge increases entrepreneurial potential (Liu etal. 2023).
In this sense, the continuous search for knowledge and development paves the way
for innovation, as well as for the increase of self-efcacy. Based on the premise that
education can inuence and change attitudes and behavior and, consequently, it has
an impact on career choice, support for university entrepreneurship education
should offer adequate training programs and prepare students to build a proper
entrepreneurial activity.
5.1 Theoretical Contributions
This chapter contributes to the literature on entrepreneurial motivations, as it pro-
vides several theoretical directions on the motives of young people who might be
potential entrepreneurs, with particular emphasis on family and education, mainly
because there are still few studies on this subject (Murnieks etal. 2019). This study
reinforces the approach to lifestyle entrepreneurs (Thomas etal. 2011), that is, those
who create an entrepreneurial activity for their personal fulllment, consciously and
persistently and,not for purely economic reasons. This evidence highlights the true
leitmotiv of the entrepreneur and enables a deep understanding for the construction
of more comprehensive models about the motivations that lead young people to cre-
ate their own business.
5.2 Practical Contributions
This chapter focuses on entrepreneurial motivations and concluded that income
motives are not always what drive the individual to become an entrepreneur. Much
of the discussion on entrepreneurial motivations reinforced the idea that the eco-
nomic aspect does not always prevail over value, such as family or the desire for
continuous learning and knowledge. This study demonstrates the importance and
need to implement learning programs in schools and universities to stimulate the
entrepreneurial mindset and increase entrepreneurial awareness. Furthermore, it is
possible to verify that the motivations related to learning can be a driving force and
simultaneously a guideline for the planning and implementation of educational and
entrepreneurship support measures for future entrepreneurs.
L. Mónico et al.

69
5.3 Limitations andFuture Research Directions
The rst limitation that we can point out concerns the fact that the sample was not
gender equitable, which may have led to biased results, and it does not allow to
make a clear comparison between both genders. Another issue that may be cor-
rected in the future is the use of a longitudinal approach. The study used a cross-
sectional survey only in Portuguese polytechnic institutions, which have
differentiating contextual characteristics; therefore, we cannot generalize the results.
In this sense, it will be pertinent to extend the study to students of various segments
of higher education, from other cultural contexts, to assess and conrm the trends
revealed in this chapter. For a better assessment of motivations, situational variables
should be considered in the future (e.g., entrepreneurial family history, participation
in entrepreneurship education programs) to assess their explanatory power.
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