There is limited evidence on how global talent mobility impacts entrepreneurship. I will leverage 20 years of data on all graduates from a Dutch university to address this gap. By constructing a comprehensive dataset on graduates’ careers, I will examine the extent to which staying in, leaving, and returning to the Netherlands post-graduation influences Dutch entrepreneurial activity. To establish causality, I will use unique data from MBA program applicants, comparing entrepreneurial outcomes of those who narrowly meet the admission threshold with those who just miss it. This research will inform ongoing debates about the economic implications of Dutch university internationalization.