What Drives Generation Z to Seek Venture Capital? The Role of Entrepreneurial Education, Financial Self-Efficacy, and Government Support
DOI:
https://doi.org/10.47747/fmiic.v1i3.3580Abstract
This study aims to examine the effect of entrepreneurial education on intention toward venture capital among Generation Z in Jabodetabek, with financial self-efficacy as a mediating variable and government support as a moderating variable. A quantitative, cross-sectional research design was employed. The study involved 160 Generation Z respondents who reside in Jabodetabek and have prior entrepreneurial knowledge. Data were collected using a structured questionnaire with a five-point Likert scale and analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) through SmartPLS 4. The results indicate that entrepreneurial education has a positive and significant effect on intention toward venture capital. Entrepreneurial education also positively influences financial self-efficacy, which in turn significantly affects intention toward venture capital. These findings confirm that financial self-efficacy plays a significant mediating role. However, government support does not significantly moderate the relationship between financial self-efficacy and intention toward venture capital. The Importance-Performance Map Analysis (IPMA) reveals that entrepreneurial education and government support indicators perform well and should be maintained, while financial self-efficacy shows lower performance and requires improvement. These findings suggest that strengthening experiential entrepreneurial education and improving financial literacy and confidence are essential to enhance Generation Z’s readiness to seek venture capital financing.
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