“ Entrepreneurship and the fear of failure ” October 2011

1. “Entrepreneurship and  the fear of failure” October 2011 Work Readiness | Entrepreneurship | Financial Literacy

2. Whatis JA WW? Work Readiness | Entrepreneurship | Financial Literacy INTRODUCTION Junior Achievementwasfounded in USA in 1919. JA istheworldwidelargestprovider of entrepreneurshipeducationprogrammes, reaching9.8 millionstudents in 124 countriesand 30 languages. MISSION To inspire and prepare young people to succeed in a global economy VALUES Our core values are: belief in the boundless potential of young people, passion for what we do and honesty, integrity and excellence in how we do it, respect for the talents, creativity, perspectives, and backgrounds of all individuals and conviction in the educational and motivational impact of relevant, hands-on learning.

3. Whatis JA-YE Europe? Work Readiness | Entrepreneurship | Financial Literacy Education for Entrepreneurship Skills for Employability Financial Capability JA-YE Europe is a not-for-profit organization based in Brussels, Belgium and is also the European headquarters for JA Worldwide® www.ja.org

4. Whatis JA-YE? Work Readiness | Entrepreneurship | Financial Literacy Engagement in Expert Groups “Entrepreneurship Education” (DG ENTERPRISE and DG EDUCATION) “New Skills for New Jobs” (DG EMPLOYMENT) “Language means Business” Forum (DG MULTILINGUALISM) “Entrepreneurship in Vocational Education” (DG ENTERPRISE)

5. Whatis JA-YE? Work Readiness | Entrepreneurship | Financial Literacy

6. Whatis JA-YE? Work Readiness | Entrepreneurship | Financial Literacy Europe in 2010 24.72 hours/student/year 14.51 €/student/year 596,198 students in specialactivities

7. Whatis JA-YE? 360° TEACHING JA-YE EUROPE PUBLIC SECTOR PRIVATE SECTOR SKILLS + BUSINESSES Work Readiness | Entrepreneurship | Financial Literacy Public and Private partnersworking together

8. JA-YE Programmes Work Readiness | Entrepreneurship | Financial Literacy JA-YE Programmes • Curricula targeting every age level from 8-25, content is all about “preparing young people for a global economy” • Designed to be used within education systems—localized but always with an international dimension • School teachers and volunteers are our multipliers • More and more IT enhancements and new delivery channels; combination of face-to-face and online is a winner • Short programmes; one-day programmes; full-year programmes; extra-curricular activities • Comprehensive materials for educators, volunteers and students • Endorsed/supported by Ministries of Education; mapped to standard curricula • All is project-based; student-centred ‘innovative’ learning • Every program includes business engagement: thousands of partnerships with local and international businesses plus employee volunteering • Sustainable infrastructure and experienced practitioners and teachers in every country to disseminate, train, coordinate, monitor...

9. JA-YE Programmes Work Readiness | Entrepreneurship | Financial Literacy

10. JA-YE Programmes Work Readiness | Entrepreneurship | Financial Literacy International (new) Initiatives (University/College) « START-UP »  Graduate Entrepreneurship (Upper Secondary) « Enterprise without Borders »  Globalisation « Global Social Innovation Relay » « Sci-Tech Challenge »  MST or STEM « Banks in Action »  Financial Education (Lower Secondary) « It’s My Business »  Inspiring entrepreneurship (Primary) « Europe and Me »  Enterprise & Sustainability

11. JA-YE Programmes Work Readiness | Entrepreneurship | Financial Literacy Skills acquired Generally…progressing from Primary through to Secondary

12. JA-YE Programmes Work Readiness | Entrepreneurship | Financial Literacy Impact on attitude/motivation STUDENTS SAID Made schoolwork more interesting and stimulating 80% Influenced on the relations between students and teachersin a positive way: 64% Influenced friendship between the students in a positive way 70% ____________________________________________________ TEACHERS SAID Meant a lot for students’ abilities to solve problems: 89% Made schoolwork more interesting and stimulating for students: 87% Meant a lot for their cooperation skills: 91% Teaching this way was a very positive experience for me as a teacher: 81% Meant a lot for students’ motivation to start their own business: 73%

13. JA-YE Programmes Work Readiness | Entrepreneurship | Financial Literacy What Happens Later? Start up rate among students who have participated in JA-YE entrepreneurship education programmes Average Start-up rate in Europe is +-6% Same results were found across 8 countries— Differences of 1-2%

14. JA-YE Programmes Work Readiness | Entrepreneurship | Financial Literacy Alumni • Greater appreciation of their skills and the opportunities available • More passionate about their jobs • More successful in their careers • Better future earnings • Overall, alumni felt that the programmes contributed to their skill development more than anything else, including work experience, extra-curricular activities and school. • Twice as likely to start a business • Most significant experience they drew upon when establishing and building their venture. • More likely to get involved in voluntary work.

15. Junior AchievementSpain Work Readiness | Entrepreneurship | Financial Literacy JA Spain Junior AchievementSpainwww.fundacionjaes.orgwascreated in March 2001, and is a member of JA-YE Europe www.ja-ye.org. Milestones: In the academic year 2010-2011, has reached to 14,639 children served through 1458 classes, involving 1172 volunteers who contributed their time and dedication in 269 schools in 13 Spanish regions.

16. Whatis JA? Work Readiness | Entrepreneurship | Financial Literacy A Model of Success Junior Achievement has managed to design a model based on the strong commitment of all actors involved in our mission: It is a model that guarantees an excellent education and it is long-term sustainable because it involves all stakeholders in the progress of our society

17. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy Iniciación a la Vida Laboral | Formación Emprendedora | Educación Financiera EducationalProgrammes PRIMARY SCHOOL (6 – 12 years) What relationship exists between us, our community and our city? What is the difference between team-work and working individually? Can I make decisions? What role does the government play? What does VAT mean? What resources do we have? My first company.

18. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy EducationalProgrammes MIDDLE SCHOOL (12 – 16 years) What can I study? Which  are my interests? Which are my strengths? Which are my weaknesses?  Why is it important to continue studying? Why in my sport shoes says "Made in China"? Do I consume responsibly? My first Budget.

19. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy EducationalProgrammes SECONDARY SCHOOL (16 – 18 years) • My first CV. My first job interview. I am the CEO of my company. My first day at work. The first audit of my company. My first labor disputes.  Which non for profit organization can my company choose to donate its profits?

20. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy EducationalProgrammes SIMULATED PROGRAMMES (16-19 years) • My first Strategic Plan. • Have I enough funding for my investments? Is it better a strategy of "cost leadership"? How can I influence the results of my competitors?

21. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy EducationalProgrammes DAY EVENTS POST-SECONDARY SCHOOL (+18 years) Entrepreneurs and Professionals.  How is the economic reality that surrounds me? What professional requirements has it? How do entrepreneurs and professionals become agents of their own future? My first market research. My first business plan. My first business venture. My first job on my own.

22. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy EducationalProgrammes UNIVERSITY (+18 years) My first marketing research. My first business plan. My first business venture. My first job on my own.

23. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy According to the recommendations made by the OECD based on the results of the PISA (Programme for International Student Assessment), Spain should: - Increase  work-readiness awareness at schools.- Increase internships experience at business. J.A. agrees with this need, we propose a way of learning that closes the gap  between school and the professional world, involving young students  in the necessary skills required by a competitive new world.

24. JA-YE Programmes Work Readiness | Entrepreneurship | Financial Literacy Closing the Gap Between Business and Education Business is felt to have an important role in society Education systems are not felt to be preparing young people with the right skills for entering the workforce The skills that are felt to be lacking in young people match closely with the skills that are seen to be developed by JA-YE JA-YE activities are helping to bridge the gap between education and business

25. Business Volunteers Work Readiness | Entrepreneurship | Financial Literacy Volunteer’sProfile:Professionally experienced mentors OratoryskillsLeadershipFlexible to work with youngstersCommitted with his/her communityShare personal and professional experiences with studentsBring closer business reality to school environment through positive stimulation of students. Share the concept of permanent education throughout life

26. The fear of failure Work Readiness | Entrepreneurship | Financial Literacy • Needs: • To encourage Ecosystems of innovation based on talent. • The entrepreneur is made, not born. • The values of the company must always be present in all activity. • Brain + Hands + Excellency = Success. • More situations of intelligent experimentation must happen from the school. • Innovation comes from knowledge (71 %). • To reduce the regulation’s rigidity when it comes from high potential companies in their phase of creation. • To promote the ‘entrepreneurship as 2nd opportunity’ as something attractive to investors.

27. The fear of failure Work Readiness | Entrepreneurship | Financial Literacy • Myths: • Youth is not entrepreneurial • Youth is afraid of failure • Ideas come form Innovation (8 %) or from coincidence (21 %) • The teacher always tells the truth, the pupil learns it • To learn critical thinking must not begin in primary • Adversity does not help employment

28. The fear of failure Work Readiness | Entrepreneurship | Financial Literacy • Statistics: • Only 5% of young Europeans, received entrepreneurial training before reaching 18 years. • The entrepreneurial activity rate in Spain reached 7.62% in 2007 and went down to to 5.3 in 2009. In 2010 it stood at 4.3. • The actual participation rate is 62.6 (men) and 37.4 (women). • The average age is 36.6 years. • According to JA-YE Europe, 15% of students who have participated in have finished setting up his own business years later.

29. The fear of failure Work Readiness | Entrepreneurship | Financial Literacy • Pros: • It starts now to be appreciated as a career option and a source of employment promotion. • It empowers the local economic growth. • More and more the 'inter-entrepreneurs‘ are valued. • Formal networks of business angels and venture capital. • Begins to be disseminated by the media. • There are nonprofits such as JA!

30. The fear of failure Work Readiness | Entrepreneurship | Financial Literacy • Cons: • The economic global situation of crisis does not help, but opportunities are identified. • The economic climate provokes an absence of capital to support small business and the markets lack of trust. • The administration’s mechanisms must progress. • The term "emprendimiento" was not even approved by the Royal Academy. • The enterpreneurship education does not develop school. (5% have access) • The competitiveness and productivity, is very low. • The enterpreneurshipvocation in the family circle, is reduced. • The is a lack of ‘forsight’ against the absence of capital liquidity that leads to many business’ deaths.

31. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy • ToConclude: • Young people must recognize their own individuality and achieve their potential from ‘self-knowledgement’. • To create and to invent generates self-confidence and it is in our DNA. • Failing, is learning from your mistakes, it makes you grow in confidence, it trains you for the following obstacle. • It is not necessary to listen to friends and family when they tell you: ‘I told you, you would fail on this’. • There is nothing better than failing

32. EducationalProgrammes Work Readiness | Entrepreneurship | Financial Literacy • JA programmesencouragestudents: • To have critical spirit in class and teamwork • To look for a solution to real problems • To question what they teach you, to experiment • To be creative, innovative • To discover the leader inside you and his 'element' • To save money, to consume in a responsible way, to prepare a budget • To learn from your mistakes • To work to win, to excel, to do your job and to perform well • To sell and to sell well • To ask for help and to help • To speak in public

33. Sponsors & Friends Work Readiness | Entrepreneurship | Financial Literacy • Sponsors: • Our educational activity is only ​​possible only thanks to the support we provide to companies through capital , materials and / or human resources. • Gold

34. Sponsors & Friends Work Readiness | Entrepreneurship | Financial Literacy • Silver • Bronze • Sponsors in theworld: • The work carried out for a better future for our youth is backed by companies such as Citigroup, Ernst & Young, GE, HP, ING, Microsoft, PWC and organizations like the World Bank, World Economic Forum or the European Union , among others.

35. Awards Work Readiness | Entrepreneurship | Financial Literacy

36. Work Readiness | Entrepreneurship | Financial Literacy ... In the classrooms The Future is... C/Diego de León, 47 - Bajo Izquierda. 28006 Madrid. SpainPhone:  +34 914 176 781; Fax: +34 912 053 032raquel.greciano@fundacionjaes.orgJA Spain: www.fundacionjaes.org; JA-YE Europe: www.ja-ye.org; JA Worldwide: www.ja.org

37. THANK YOU!