The new generation of millennial entrepreneurs: A review and call for research

Abstract

Entering the third decade of the new millennium, the millennial generation is stepping into their most productive stage of life. We have witnessed a number of exemplary millennial entrepreneurs, such as Mark Zuckerberg, founder and CEO of Facebook. The world's economy is evolving fast and presenting distinct entrepreneurial opportunities to millennials across the globe. It is critical that scholars of international entrepreneurship explore the new breed of millennial entrepreneurs and contrast them across generations and countries. Regrettably, the extant literature comes up short in fully addressing the new generation of entrepreneurs. We call for immediate scholarly attention on millennial entrepreneurs as they are in substantive ways unlike all earlier generations. We urge researchers to explore the unique characteristics of millennial entrepreneurs, their influence on entrepreneurial motivation, orientation, opportunity discovery and exploitation process, and the global ambition of their entrepreneurial ventures.

Research on the Evolution of Innovation Behavior of New Generation Entrepreneurs in Different Scenarios

“…"New generation entrepreneur" is a new term put forward in recent years. The definition for new generation en-trepreneur is not unified, it is mainly from the intergenerational and group aspects, e.g., millennial entrepreneurs (Liu et al, 2019), "generation Y" (Strauss & Howe, 1991), etc. In china, new generation entrepreneurs refer to the groups which are usually born after 1980 and grew up in the Internet era, with the general characteristics of high-end academic level, international education background and specialized knowledge structure.…”

Do employees’ generational cohorts influence corporate venturing? A multilevel analysis

“…Source: Self-devised based onBenson and Brown 2011;Chen and Choi 2008;Cennamo and Gardner 2008;Gibson et al 2009; Kupperschmidt, 2000;Smola and Sutton 2002;Hung et al 2007;Liu et al 2019;Parry and Urwin 2011;Wong et al 2008; Zhang and Acs Proposed conceptual model. Source: Authors…”

Actividad emprendedora de los millennials en Antioquia (Colombia)

“…Son personas nacidas entre los años 1980 y 2000, y cuyo interés se centra principalmente en la búsqueda de autonomía, flexibilidad, así como definir su relación laboral y de negocios en función de un propósito (Arthur, Anku-Tsede, & Gyensare, 2020). Además, los millenials son una población que está entrando en su etapa más productiva (Liu, Zhu, Serapio, & Cavusgil, 2019), por lo cual, el conocer los aspectos que dinamicen su actividad emprendedora y los sectores sobre los cuales los millennials están generando sus apuestas productivas, son razón especial para el marco de este trabajo de esta tesis en la ruralidad de Antioquia.…”

“…The existing literature on millennial entrepreneurs is still incipient and must be thoroughly researched as this generation is entering its most productive stage (Jingting Liu et al, 2019), although it has sometimes been stigmatized as a spoiled generation, oriented towards immediate and even narcissistic incentive (Deal, Altman, & Rogelberg, 2010); the truth is that it is a different generation, whose ways of working must be connected with a life purpose (Jingting Liu et al, 2019); moreover, it is common that individuals from this generation present characteristics such as the search for independence, autonomy, flexibility in work and orientation to achievement; which would favor entrepreneurship (Arthur et al, 2020).…”

“…In this context, young people categorized as millennials, who were born between 1980 and 2000, and who are considered in the literature as technological natives; can help improve the competitiveness levels of rural enterprises, since they have the advantage of easily adopting changes (Jingting Liu, Zhu, Serapio, & Cavusgil, 2019), are prone to entrepreneurship, creative and also frequently seek to innovate (Koe, Sa'ari, Majid, & Ismail, 2012); Therefore, a counter-urbanization strategy of urban youth that promotes migration to rural areas for the creation of businesses (Anthopoulou, Kaberis, & Petrou, 2017) could generate conditions to revitalize rurality (Tunberg, 2014).…”