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Purpose of Educating and Cultivating the Next Wave of Entrepreneurs

Entrepreneurship is the engine fuelling innovation, employment generation and economic growth. It has become quite clear over the years that without well-developed or potentially available entrepreneurial capabilities, external funds will be wasted on projects that will not provide long term economic growth.

While the landscape is changing gradually and some improvements are evident, the present educational system, at a regional level, still does little to stimulate creative thinking and unleash the entrepreneurial spirit of the youth in order to cultivate a new breed of much needed job-creators and income generators, rather than job seekers.

The lessons from the experiences of many countries imply that:

  • Youth entrepreneurship should not be seen as a magic cure of youth unemployment.
  • Youth entrepreneurship policies and programmes should complement broader youth employment strategies and policies.
  • Only a small proportion of young adults could become real entrepreneurs.
  • The age and, consequently, life and work experience do matter. Youth entrepreneurship programmes and schemes tailored to the specific characteristics of each age category of youth (teenagers and/or young adults) have proved to be more effective.

Entrepreneurship and education are two such extraordinary opportunities that need to be leveraged and interconnected if we are to develop the human capital required for building the societies of the future. Only by creating an environment where entrepreneurship can prosper and where entrepreneurs can try new ideas and empower others can we ensure that many of the world’s issues will not go unaddressed.