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This journey begins on university campuses. Forward-thinking business schools are introducing specialised courses in areas such as design thinking, business development in a digital age and resource management. Entrepreneurship-based competitions and pitch events allow students to ideate, gain feedback and potentially secure capital.
Through hubs such as Monash EIHUB, incubators and accelerators propel students forward in their entrepreneurial journey. From mentoring to seed funding and at times, even an office space, these strategic spaces support the growth of early-stage startups.
“ Business schools must also not neglect research on entrepreneurship and innovation, which can unearth valuable insights to inform curriculum and support for successful ventures,” finished Professor Avvari.
Fueled by vibrant economies, a dynamic startup ecosystem and positive on-ground sentiment, ASEAN is a magnet for innovation.
Aspiring entrepreneurs today face two primary challenges: access to funding and expertise, and the knowhow to scale hurdles, especially in regional expansion.
All stakeholders have a part to play. Investors from the public and private sectors can provide meaningful support through powerful enablers in the form of grants and seed funds. Mentors can avail themselves to provide networking, guidance and growth opportunities.
Universities can prepare the future workforce with useful skills and know-how, whilst supportive regional policies and sandbox environments for product testing can be immensely helpful.
Ultimately, the way forward is greater crossborder partnership. ASEAN nations will benefit from wellconnected innovation systems that bring startups, research institutions, universities and corporations together.
“ Increased mobility of students, researchers, and skilled professionals in STEM fields across the region’ s innovation hubs is a simple but effective way to drive innovation and cultivate a highly skilled workforce able to solve the problems of today and the future,” Dr Loy says.
It is undeniable that ASEAN holds remarkable potential to foster groundbreaking innovation and become a breeding ground for future unicorns, driving economic growth, sustainable ecosystems and a brighter future for all.
If ASEAN stays true to its motto,“ One Vision, One Identity, One Community,” the region will be a shining testament of what unity in diversity can achieve. e
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