We examine the careers of 3,894 Babson College alumni to see if their entrepreneurship education had a lasting effect.

There has been very little research into the effectiveness of entrepreneurship education (Charney and Libecap, 2003). Evaluation of entrepreneurship education should assess both the individual student and the program as a whole (Solomon et al., 2002). The fundamental measure of effectiveness of entrepreneurial education should be measured by the socioeconomic impact produced (McMullan and Long, 1987; Block and Stumpf, 1992). Articles on long-term effects of entrepreneurship education are extremely rare and studies of their overall socioeconomic impact are non-existent. Charney and Libecap’s (2003) study of University of Arizona alumni who graduated between 1985 and 1998 found that entrepreneurship education made a difference. A study of business plan education (Lange et al., 2007) produced mixed results: it found that alumni who had written business plans as students were twice as likely to start a new venture but that businesses started with written business plans performed no better than those without one.