A host of famous, successful entrepreneurs dropped out of academia (check Steve Jobs), proving a university degree might not seem to be on the critical path when developing innovative, ground-breaking ideas.

Yet a new survey by the Global Entrepreneurship Monitor (GEM) underpinned by experts from 31 countries claims otherwise! Apparently education is a key factor in shaping attitudes on entrepreneurship. The poll also states that academic training in the field remains inadequate.

Tuition, especially at a young age, can cultivate an entrepreneurial spirit, but 60% of individuals engaged in entrepreneurial studies acquire it from informal sources. Most universities offer courses on entrepreneurship and countries with government policies that support entrepreneurs have the highest levels of training.

Sadly, the annual survey published by GEM has shown insignificant improvements in the effectiveness of education since 2,000.

While the likes of Sir Richard Branson and Simon Cowell get to create some of the world’s best-loved companies without any kind of formal degree, they’re the exception, not the rule. Training is beneficial- if not essential- especially in start-ups operating knowledge-based products or services.

Do you want to be exception or rule?

Have a look at the full GEM Report!