PETALING JAYA: The entrepreneurship scene in Malaysia has grown significantly over the past decade. The country has become a vibrant hub for start-ups, driven by a young, tech-savvy population and an increasingly supportive government.
Initiatives like the Malaysian Research Accelerator for Technology & Innovation (MRANTI) create a conducive environment for start-ups by providing training, funding and international collaboration opportunities, positioning Malaysia as a key player in global innovation.
Private sector involvement has also surged, with venture capital firms, angel investors and corporate accelerators offering crucial funding and mentorship. This support has enabled start-ups to scale rapidly and compete globally, inspiring new entrepreneurs and energising the startup ecosystem.
Taylor’s University’s entrepreneurial ecosystem
Having a strong ecosystem to support entrepreneurs is vital as it helps provide start-ups with the necessary infrastructure and resources to grow and scale.
Understanding this requirement, Taylor’s University has set out to provide a robust entrepreneurial ecosystem designed to nurture and transform students’ business ideas into successful enterprising ventures.
Introduced by Taylor’s Business School in 2020, the institution’s Bachelor of Entrepreneurship (Honours) in Team Entrepreneurship programme draws inspiration from the Finnish Team Academy model and aims to provide unique learning experiences that nurture entrepreneurial mindsets and skills.
The three-year programme is the nation’s first of its kind and provides a supportive ecosystem for students to kickstart their business ideas even before graduating, assisting them in taking the first big leap towards self-employment.
“The Team Entrepreneurship degree was introduced to equip students with the collaborative skills and practical experience needed to thrive in today’s dynamic and interconnected business environment.
We want to provide an immersive educational experience that prepares our graduates to effectively navigate the complexities of starting and scaling businesses in a global market,
Team Entrepreneurship programme director Dr Zalena Mohd said.
Team Entrepreneurship focuses on three core areas, namely the enterprise, the team and the individual.
The degree cohesively brings start-up ideas to life through an action-driven approach of coaching with business mentors from various backgrounds and learning support through Bizpod, a start-up incubator at Taylor’s led by experienced lecturers and seasoned entrepreneurs.
The programme involves collaboration with business coaches across various industries such as logistics, e-commerce, food and beverage, fashion, social enterprises and consultancies to give students a microscopic insight into what these streams demand, where the gaps in those markets lie and what can be done to overcome these obstacles.
Another aspect that gives an edge to the Team Entrepreneurship programme is the access to seed funding and exposure to venture capitalists, ensuring students have the financial resources needed to bring their ideas to life.
Conducted in collaboration with BizPod, students are provided an initial capital to start working on their businesses. To date, team ventures across the first two batches have been awarded seed funding amounting to more than RM60,000.
BizPod, equipped with a central workspace that Team Entrepreneurship students have access to, has designed a comprehensive business incubation support system that fosters an environment throughout the programme whereby students can develop and refine their business concepts.
The incubator’s structured four-stage entrepreneurship training programme equips young entrepreneurs through the journey of entrepreneurship, including up to two years post-graduation.
Continued excellence
In addition to fostering a strong entrepreneurial ecosystem in its campus, Taylor’s University has also earned business accreditation from the Association to Advance Collegiate Schools of Business International (AACSB) through its Business School.
This prestigious recognition, held by only 6% of business schools worldwide, grants the university and its students access to a global network of member organisations and businesses seeking top talent.
Achieving AACSB accreditation is a rigorous process that includes in-depth assessment, mentorship and a peer-reviewed evaluation focused on continuous improvement.
This accreditation underscores Taylor’s commitment to excellence in strategic management, innovation, research and teaching.
Source: https://www.freemalaysiatoday.com/category/leisure/2024/08/26/fuelling-malaysias-start-up-scene/