University: A Spring of Information or a Novel Networking Platform

Hunting down books in libraries to look for a stat or a piece of data is well beyond us, as we tread further down a path of unprecedented access to information; some would call this “The Information Age”. The ease of access to inexpensive academic material, crash courses, and novel concepts through online and virtually free means has put up and coming university students in a dilemma: Does the academic curriculum delivered justify the hefty price tag? And if not, what differentiates a university education, especially during COVID times, from self-taught material on the internet?

However, because of this rampant effect, many have started to realise that universities are now offering something some might say is more important than the educational aspect: a platform for networking. Business students are constantly taught the importance of networking, and there is a reason for that. A durable network can provide one with various business and employment opportunities. Therefore, it is not only a recommendation at this point but also an essential goal for students to build a strong network during their university years. Understanding this is a reason as to why the right universities provide a plethora of networking events and seminars, taking into consideration that employability should stand as a primary goal.

Many industries will require you to have a solid and durable network in order to succeed. Some examples include gaming, political organisations, consulting, computer and network, venture capital, and private equity. As these industries continue to develop, they look for employees who can serve as a key to the expansion into new domains.

Chinedu Enekwe, a partner at Aux 21 Capital, has a diverse and extensive educational background in the venture capital and private equity industry. He has two bachelor’s degrees, 1 LL.M., and a Juris Doctor. In his interview with Unicast Entertainment, Chinedu explained that the most important thing he gained from such a diverse educational background is a diverse network. “The greatest advantage of all of these academic experiences has been what I would say is the greatest advantage of almost every experience, which are the people you meet along the way…. ultimately, the things that you would find to be the most durable are the relationships and the ways that those relationships evolve.” Chinedu explains that he has people from various industries such as engineers, scientists, lawyers, and more. By building these relationships, Chinedu says that he has a broad knowledge set and a place to tap into experienced people in different industries.

This is not necessarily an unexpected outcome for Chinedu, but something potential venture capitalists need to practice. Venture capital stands as one of the top industries where networking plays a salient role in achieving success. According to a study conducted by Yael V Hochberg, Ljungqvist, and Yang Lu, a strong network affects a venture capital’s ability to offer value-added services, and networking improves and increases performance much more than when a venture capital cannot benefit from better deals through its network. An analysis by Peter Rigano also shows that venture capital and private equity sits at number three, with 27.3%, in the list of industries that hire the most from their employee network. The same analysis shows that industries mainly associated with technology are heavily reliant on networks.

All these things indicate that somebody who wants to find their place in the venture capital or technology industry will likely have a recruiter ask about their existing network and networking abilities to assess whether they could potentially become a valuable asset to the workforce. And as these industries mature, employers are seeking individuals with a network that could extend to an international level, which is also a point Chinedu further elaborates on in his interview with Unicast Entertainment.

Unfortunately, in 2021 most university students worldwide are currently experiencing online distance education, a consequence of the Covid-19 pandemic. Still, despite the circumstances, we advise our fellow students to make the best out of their situations and network through virtual methods such as Zoom events or Webinars, which are in abundance and very easily accessible during these times.

To check out the full interview with Chinedu Enekwe, visit https://youtu.be/dWDB4-PrxU4. 

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