Friday, 02 Apr 2021 08:27 PM MYTAPRIL 2 — It might seem rather brave to propose to set up a new university in this very challenging environment for higher education in Malaysia but the proposal from Datuk Seri Wan Junaidi Tuanku Jaafar that the Ministry of Entrepreneur Development and Cooperatives aims to establish a university of co-operatives and entrepreneurship deserves serious attention.
This shows the massive value-added that can be gained from investment in entrepreneurship and is a clear motivation in itself to create a new model to teach, develop and nurture entrepreneurs in Malaysia, especially in the micro-enterprise and co-operative community.You will probably recall hearing a successful entrepreneur speak. They are passionate, engaging and enthusiastic. Their ideas are infectious and you come away with a real buzz. For them, their business idea becomes all consuming.
Social aims are also a key driver of a new generation of entrepreneurs hoping to create social enterprises, leveraging impact investment and sustainable finance, creating decent work in inclusive workspaces and measuring success with social return on investment as well as financial profit and loss. Others argue that it is exactly the objectivity of the ivory tower and evidence-based research that helps us understand why some things fail and why others work, free from the bias of personal disappointments or bragging rights from success.
We need to encourage the entrepreneurial mindset and facilitate this in the classroom or better still in business incubators. LBS was one of the first business schools to set up an incubator on its campus in Regent’s Park with one student creating one of the first online hotel booking sites focussed on ski resorts in Europe. It also encourages entrepreneurs to study ethics as start-ups are often a race to win contracts at all costs.
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