University of Illinois graduates were encouraged to become entrepreneurs during Carl Schramm’s 2009 commencement address. Schramm is president and CEO of the Ewing Marion Kauffman foundation, an organization dedicated to advancing entrepreneurship and improving education to cultivate the next generation of entrepreneurs.

“America needs entrepreneurs right now. We need an army of the smartest, most passionate young people to try their hand at building a business—people who will take their heads and their hearts into the market, founding companies that will bring forth new products and services that will help humankind.”

You can read the full transcript or watch the video below: