2024 ASEE Annual Conference & Exposition

Work-in-Progress: Human Capital Formation as a Framework for Entrepreneurship and Venture Design Education

Presented at Educational Research and Methods Division (ERM) Technical Session 3

Human capital formation refers to the process of investing in and developing the knowledge, skills, and abilities of individuals to improve their economic value and productivity. While capital typically describes the resources, both financial and physical, that are used to produce goods and services, it can also refer to the value of these assets, which can be used to generate income or be invested in new projects. By increasing human capital, individuals can improve their earning potential, enhance their ability to innovate and adapt to changing technologies and markets, and become more productive and engaged citizens.

This work-in-progress paper describes the model of human capital formation as a framework for entrepreneurship and venture design education in a graduate engineering course taught at Stanford University. In the educational context, human capital formation is characterized by engagement in experiential learning and informal education. The unique contribution of the human capital formation framework is its emphasis on investing in physical and mental health, as well as in social capital, such as networks and communities. As a result, capital formation is viewed as a system of continuous and embodied practices rather than a set of transactions.

The pedagogical model includes invited speakers (i.e., entrepreneurs, venture capitalists, and executive coaches) as well as simulations and reflective exercises. The catalyst for articulating this human capital framework is the interest in developing curricular modules that can be disseminated and adapted for high school students and professional development for aspiring entrepreneurs and venture capitalists. The majority of current formal education offerings on how to become a venture capitalist is primarily offered through business schools. However, the human capital formation model offers a unique perspective on the ecosystem of venture design in relation to entrepreneurship education for engineering students and engineering educators.

Authors

Dr. Helen L. Chen http://orcid.org/0000-0001-6415-7814 Stanford University [biography]

Helen L. Chen is a Research Scientist in the Designing Education Lab in Mechanical Engineering and co-founder of the Integrative Learning Portfolio Lab in Career Education at Stanford University. She earned her undergraduate degree from UCLA and her PhD in Communication with a minor in Psychology from Stanford. Her scholarship is focused on engineering and entrepreneurship education, portfolio pedagogy, reflective practices, non-degree credentials, and reimagining how learners represent themselves through their professional online presence.
Ade Mabogunje Stanford University [biography]

Ade Mabogunje is a Mechanical Engineering Scientist and Designer who studies the character, behavior, and environment of designers when they do design particularly when they innovate. Ant-colonies design anthills, medical doctors design therapies, engineers design technologies, storytellers design narratives, entrepreneurs design social movements, and the list goes on. Design is basic to human survival, extinction, progress, and happiness. Ade received his PhD in Engineering from Stanford University and works at the Center for Design Research.

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