In recent years, the NCAA’s decision to allow college athletes to profit from their Name, Image, and Likeness (NIL) has sparked a significant shift in the collegiate sports landscape. This monumental change has not only transformed the lives of student-athletes. Still, it has also opened up a broader conversation about how we support and incentivize other talented students on campus, particularly those involved in entrepreneurship and creative arts like music.
Our recent conversation with Pamela Cytron, President of The Founders Arena Wealthtech Accelerator, explores the implications of NIL and how parallel opportunities must be available for non-athlete students equally poised to impact society profoundly.
NIL and Its Consequences: A Double-Edged Sword
The introduction of NIL rights has undeniably provided college athletes with opportunities previously unavailable. Athletes can earn substantial income through sponsorships, social media partnerships, and personal brand deals, allowing them to capitalize on their fame and talent while still in school. This financial independence can be empowering, helping them support their education, families, and future endeavors.
However, Cytron provides an example of how NIL raises concerns about equity and the potential for neglecting other talented students.
“A star athlete at a major university might secure a six-figure endorsement deal, but what about the computer science student who just developed a groundbreaking app? Or the business student who has a million-dollar idea for a startup?”
These students are equally deserving of the financial award, yet they often need access to the same financial resources and public attention.
Entrepreneurship: The Untapped Potential
Entrepreneurship programs in colleges and universities are breeding grounds for innovation. Students are encouraged to think creatively, solve real-world problems, and develop businesses that may one day revolutionize industries.
Consider a scenario where a student comes up with a million-dollar idea to build a product that could benefit society. Unlike athletes, these students often face enormous challenges securing funding, mentorship, and resources to bring their ideas to life. Cytron imagines a different path forward.
“If universities offered the same financial and institutional support to budding entrepreneurs as they do to star athletes, that could be a game-changer for these startups. A $1 million investment in a student’s startup could yield returns not just in profit but in societal impact. These students are the next generation of business leaders and innovators and supporting them should be a priority.”
We must ask, how we can ensure that these students have the same opportunities to succeed as their athletic counterparts?
The Case for Expanding Support Beyond Sports
The focus on NIL for athletes has also highlighted a broader issue within higher education: the unequal distribution of resources and opportunities among students. While sports programs often receive substantial funding, other areas—such as entrepreneurship and the arts—are frequently underfunded and overlooked. Yet, these disciplines are equally important in shaping society’s future.
For instance, consider the role of college bands. As Cytron points out,
“These students are often just as dedicated and passionate as their athletic peers. They spend countless hours rehearsing, performing at games, and representing their schools. However, they need to be given the same recognition by the institution student-athletes receive.
After graduation, their paths may include working with rock bands or pursuing careers in the music industry, which society views as successful careers.”
What if universities created initiatives to support these students the same way they support athletes? Funding for professional-grade instruments, access to recording studios, or connections to industry professionals could make a difference in their careers. These types of investments help individual students succeed and enrich society’s cultural and creative fabric.
The Societal Impact: A Broader Perspective
When we invest in students, we’re investing in the future. Whether through NIL deals for athletes, funding for entrepreneurs, or support for college bands, these investments have far-reaching implications. Athletes may become professional sports stars, but entrepreneurs and artists have the potential to create products, services, and cultural movements that benefit society as a whole.
Cytron highlights the potential of a successful startup launched by a college student, stating,
“Funding college-level entrepreneurs and creatives could create jobs, solve pressing societal issues, or introduce new technologies that improve our quality of life. By broadening the focus to include all students, we promote a more inclusive and equitable educational environment.”
She believes every student, regardless of their field of study, deserves the chance to succeed and to make a meaningful impact on the world. This means providing equal opportunities for funding, mentorship, and resources across all disciplines.
A Call to Action
As we celebrate the opportunity created by NIL for college athletes, we must also recognize the need to extend similar opportunities to other students. Universities, corporations, and society should consider how they can support the next generation of entrepreneurs, artists, and innovators. By doing so, we not only level the playing field but also ensure that the benefits of education extend beyond the sports arena.
“Imagine a world where a million-dollar idea from a college entrepreneur receives the same fanfare and support as a star athlete signing an endorsement deal. Or where a college band member’s talent is nurtured and developed with the same resources as a basketball player’s jump shot. We must have a vision for a more inclusive and supportive future where every student has the opportunity to shine,” Cytron comments.
While NIL deals have undoubtedly transformed the lives of many college athletes, it’s vital that we broaden our focus to include other talented students whose contributions to society could be equally, if not more, impactful. By investing in all students—whether they’re athletes, entrepreneurs, or artists—we ensure a brighter, more innovative future for everyone.
