Study on entrepreneurial process model for SIFE student team based on Timmons model

Abstract

PurposeThe purpose of this paper is to find the characteristic of entrepreneurial process for the student in free enterprise (SIFE) team in China, and to provide theoretical guidance for the entrepreneurial process of SIFE student team through a new Timmons model.Design/methodology/approachTaking an entrepreneurial project of Shantou University SIFE team as example, a Timmons model was proposed describing the SIFE student team entrepreneurial process based on the famous entrepreneurial process model established by Jeffry A. Timmons. The application value of the new Timmons model was proved by case analysis.FindingsThe paper summarized the main characteristics of the entrepreneurial model for the SIFE student team as: the nature of creation free enterprises, the excellent entrepreneurship networks, and the spirit of social entrepreneurship orientation. By case study, the paper proved the practical value of the new Timmons model by analysis of the key factors such as business opportunities, resources and entrepreneurial team, and their dynamic balance process.Practical implicationsThe new model proposed in the paper will have theoretical value to provide a direction for student entrepreneurial practice, the analysis of the characteristics of the new model will also enrich the research on entrepreneurship theory.Originality/valueThis paper is the first research on SIFE student entrepreneurial process in China. In the past two years, the authors observed dozens of successful worldwide SIFE students' practical projects, but few of them appeared in the literature. It is hoped that this paper can offer some constructive advice to the entrepreneurial process of the SIFE student team and enrich the theory of general entrepreneurial education.