Around one third of the graduates from Ivy League colleges in the US end up on Wall Street, or working for a management consulting firm. They do so for good reasons: The pay is good, the jobs are in desirable cities, and the firms have extensive recruiting resources at those colleges. This article is about an effort to get more of the graduates from our top colleges to take jobs with new business ventures. Most of the new jobs that are created come from successful start ups (not simply small businesses), and more would be successful if they could siphon off more of the graduates from our top colleges. Many would also find the work more fulfilling because they would get a sense of accomplishment. Their marginal contribution to the success of the firm would be higher than it would be in firms that are loaded with talent.
The entrepreneur who started Teach For America, which has recruited thousands of top graduates to take teaching job where they are most needed, has started a business to funnel more of our top graduates into new business ventures. It is off to a good start, and it has even recruited candidates from Wall Street firms who are looking for more fulfillment. Lets hope that Venture For America is as successful as Teach For America.
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