Startup Dreams: What Drives Gen Z and Millennials toward Entrepreneurship?
Sushma B S* and Dr. Chandra Sen Mazumdar*

(*) Faculty of Management and Commerce(FMC), Ramaiah University of Applied Sciences (RUAS), Bangalore, India.

Abstract

The study investigates the level of financial literacy (FL), financial well-being (FWB), and entrepreneurial education (EE) on entrepreneurial intention (EI) among Generation Z students pursuing professional education and young working Millennials in Karnataka, India. Research employs a descriptive analytical approach to compare generational profiles and their influence on EI. The findings reveal that Gen Z exhibits higher levels of perceived financial well-being and moderate financial literacy, primarily attributed to familial support and digital engagement, yet displays lower entrepreneurial education and intention due to structural educational gaps. Conversely, Millennials demonstrate stronger entrepreneurial intent and education, shaped by professional exposure and access to entrepreneurial ecosystems, though constrained by lower financial well-being linked to economic responsibilities. These results underscore the complex interplay between knowledge, experience, and financial context in shaping entrepreneurial aspirations. The study contributes to entrepreneurship literature by highlighting generational nuances and offers implications for policy, education, and targeted support systems to foster entrepreneurial action among youth and early-career professionals.

Keywords: Entrepreneurial Intention, Financial Literacy, Entrepreneurial Education, Financial Well-being, Gen Z and Millennials

Topic: Business Transformation in the Digital Era