1. Skills and Attitudes for the Future
- Entrepreneurship in schools
“Innovation and Creativity
in the Hands of the Young”
Des. 3. 2009 Reykjavik, Iceland
Johan H. Andresen
www.ferd.no

2. Agenda
• Ferd – an overview
– Who and what we are
• The rationale for investing in young people
– The future of the Welfare State
– Social Entrepreneurs
• An example: The Science Factory
• Junior Achievement – Young Enterprise
– Europe
– The Norwegian Model (Ungt Entreprenørskap)
– Results
• Students and teachers
• Start-up rates
• Drop- out rates
• The demands of the market
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3. Vision, Corporate Mission Statement
and Value Platform
VISION
We will create enduring value
and leave clear footprints
Operational Corporate
values values
Expertise Credibility
Networking POSISION Spirit of adventure
An owner and partner who seeks
new avenues for turning bright
Capital ideas into sound business Teamwork
Long-term view
CORPORATE MISSION STATEMENT
Ferd will focus on being a proactive
long-term owner of strong
companies with international
potential as well as operating as
a financial investor, making use
of its core expertise in finance,
business development and networking
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4. Turnover EUR 2.7 bill, 19.000 employees*
*Incl. >50 % controlled companies
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5. Ferd investments in 50%+ controlled companies
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6. A privately held Norwegian investment company
Ferd
Ferd Ferd
Ferd Ferd Ferd Ferd
External Social
Capital Invest Real Estate Venture
Managers Entrepreneurs
Elopak (100%) Nordic listed Hedgefond Development Direct
Swix Sport stocks Private Equity Investments investments
(100%) fond Management Energy Ventures
Aibel (49,9%) Herkules Private Fond I, II og III
Equity Fund I, Energy
II og III Ventures AS
Herkules Capital (25%)
(40%)
Special
Opportunities
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7. Social Entrepreneurs
• People with innovative solutions to some of societies
most pressing social problems
• Using business methods to achieve a ”double bottom
line”
– A social and a financial bottom line
• Wish to change beliefs and thereby whole systems
• Visionary and realists – the implementation of the vision
is their primary object
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8. Establishment of Ferd Social Entrepreneurs
• Ferd must be socially responsible
in our daily activities, i.e. this is Ferd Social Enterpreneurs
not part of a CSR policy
• Ferd invests in selected
organizations, project and leaders
who give people, and especially
children and youth, the
possibilities to develop their own
ideas and full potential
• Ferd’s investments should make a
measurable impact and a real
difference
• Ferd’s human resources and
competencies are especially
valuable to social entrepreneurs
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9. Research and Technology – for Young and Old (teachers)
Outside Inside
Children Youth
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10. Entrepreneurship & The Welfare State
• The Welfare State assumes value creation resulting in
employment, taxes and fees
• Value creation assumes increased productivity due to global
competition and smaller workforce
• Productivity assumes entrepreneurship, i.e. values,
knowledge, skills, creativity, innovation, risk taking, execution
and hard work
• Ergo:
The Welfare States assumes entrepreneurship
- If you disagree, you can change your own diapers
when you lie there with dementia at the age of
92…….
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11. 1 out of 3 does not complete secondary school
Studies % who % who
drop out fails
Language, business 4,9 14,7 A sorry
and admin. studies contributor to
Sports Education 3,0 19,6 the almost
studies 700.000
Building studies 24,3 17,7 Norwegians
who are
Electro studies 26,7 20,2 outside the
workforce –
Mechanical studies 35,5 20,0 on welfare,
Carpenter studies 47,1 20,6
sick leave,
jail, etc….
Hotel & food studies 49,2 21,4
Source: ”Selection and competance”, NifuStep, report 13/2008
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12. The Solution: Entrepreneurship in schools
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13. JA Worldwide ®
2008-09 Enrolment Totaled 9,797,897
3,105,753
4,098,366
1,209,447
159,418
132,908
1,092,005
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14. 14

15. Partners in
Support from
entrepreneurship the Government
education app 3 mill €
Education
Enterprise
Private in education Public
JA-YE
Norway
Start up
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16. Entrtpreneurship in schools
– important to whom?
• School Administration
– Leadership and positioning
• Teachers
– Getting across, learning and celebrating
• Students
– Relevance, self worth and skills
• Employers
• Society
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17. …the “soft” skills…
students 1990 - 2003
By doing the JA-YE Company Program, the former students answered:
• Made the schoolwork more interesting and stimulating: 80%
• Influenced on the relations between students and teachers
in a positive way: 64%
• Influenced on the friendship between the students in a positive way 70%
By doing the JA-YE Company Program, the teachers answered:
• Meant a lot for the students abilities to solve problems: 89%
• Made the schoolwork more interesting and stimulating for students: 87%
• Meant a lot for the students motivation to start their own business: 73%
• Meant a lot for their cooperation skills: 91%
• Meant a lot regarding their attitudes to start their own business: 73%
• Teaching this way, was a very positive experience for me as teacher:81%
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18. Effects of entrepreneurship education in
Norway and Sweden on start-up rates
Start-up rate among students who have participated in the JA-YE Company
Program – Upper Secondary Level - the hard facts: Students from 1990 to 2003
Norwegian survey Study done twice in Norway and
2005 three times in Sweden.
Below 21 years 0,0 %
The conclusions are the same:
21 - 24 years old 14,8 % The level of entrepreneurial
activity among students who have
25 - 28 years old 10,4 %
participated in the Company
29 + 26,6 % Program is at least the double of
the average population…
Total 16,6 %
The average start-up rate in Norway among non-participants is 7,0 %
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19. Reduction in drop-out rates =
Increased value creation
# ”Company Program as mean to reduce
• Reduced absence # unauthorized absence”
- Authors: Johansen and Schanke, 2009
• Increased motivation
• Higher self confidence in selection of subjects in secondary
schools
• Increases establishment
of own business* * ”Promoting the entrepreneurs of tomorrow:
entrepreneurshipeducation and start-up intentions among
schoolchildren”
- Authors Johansen and Clausen (article to be published in
2010)
• Return: 15-23 x your money
– by keeping a student in school, out of the welfare line, and
on track to employment or own start-up
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20. Employers - today
• Risky to employ students who has no work experience
• But to keep cost down while competing for talent,
companies do it anyway…
• Extremely valuable therefore that students get:
– Academic knowledge, combined with,
– Understanding of elementary tools and skills needed to
create value.
– And this is what entrepreneurship in school does today
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21. What does Ferd look for when we recruit ?
• Attitudes
– Values, personal and Ferd’s, sharing the vision
– Likes challenges and responsibility
– Understands own strengths and weaknesses
– Enjoys making others excel
– Risk – understanding of and willingness
– Execution
– Sense of humor and self-irony
• Abilities
– Ability to understand complex issues quickly
– Ability to make decisions that create value
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22. Employers - tomorrow
• The Future
– Companies know less about the future than ever before
– Even expected changes occur unexpectedly fast
– Overflow of information
– Tomorrows businesses have not been created yet
• But we do now
– Knowledge can become outdated, but the attitude to seek new
understanding can last a lifetime
• The most important aspect for business:
– Students who have discovered the ability and willingness to
learn continuously – and do it
– And it is this that entrepreneurship in schools must do in the future.
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23. Entrepreneurs are made, not born
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