Presentation on theme: "“Youth Entrepreneurship” by Douglas Foo CEO, Apex-Pal International Ltd. 24 January 2007."— Presentation transcript:
“Youth Entrepreneurship” by Douglas Foo CEO, Apex-Pal International Ltd. 24 January 2007
“Entrepreneurs are born, not made.” True or False?
Contents Rise of entrepreneurship A look at the youth-centric approach in Singapore How we can do more Looking forward and further
Rise of Entrepreneurship The rise of entrepreneurship and the SME (Small-Medium Enterprise) after Financial Crisis Create a vibrant economy, in which SMEs form a key growth engine in the future Every individual/company, no matter the age/ size, can make a difference vs Apathetic youths/citizens
Tri-partite Partnership in Building Budding Entrepreneurs Society Youth Entrepreneurship Government School
Youths – Future Leaders for the Nation "Step forward to make a difference to yourselves, to your fellow citizens and to Singapore." - PM Lee's call to younger Singaporeans, Aug 2004 The aspirations and the endeavours of Singapore's youth will propel us forward; their beliefs and their work form the basis for our future
Youths – Future Leaders for the Nation Our government ministry was renamed the Ministry of Community Development, Youth and Sports (MCYS) in 2004 to signify the Government's commitment to engage youth and involve them in national affairs
Spirit of Enterprise throughout Society A frame of mind that encourages creativity, new ideas, innovation, the guts to do things differently and start new projects Instill in our youths a spirit of enterprise that draws them out of their comfort zone and a sheltered environment that they are used to
Spirit of Enterprise throughout Society Develop sense of ownership and responsibility towards progress for society Various awards/schemes to recognise and to motivate youth entrepreneurs
Recognising and Motivating Youth Entrepreneurship Singapore Youth Award
Myriad of Activities in Schools Business Plan Competitions Set up Entrepreneurship/Business Clubs Organise Entrepreneurship camps Networking sessions with entrepreneurs Guest lectures by entrepreneurs Bazaars and fairs as test beds for products and services Internships and attachments to companies
How we can do more to strengthen the tri-partite relationship?
Increase avenues/access to funds; widen criteria for eligibility E.g. ComCare fund for social development causes, NYC’s seed grants, and MOE’s grants for school-based causes? Build platform for (Y-2-Y) youth-to-youth networks and support groups Some Possible Areas/Initiatives to Explore
Build closer ties/links with private sector who already has facilities and resources Business matching of budding entrepreneurs and compatible companies, whereby companies can provide a mentoring programme and are compensated in some way for the cost of mentorship and the provision of facilities Some Possible Areas/Initiatives to Explore
With ASEAN as a platform, create opportunities for youth exchange programmes to deepen regional identity and awareness among the youth of ASEAN Cast the net wider and promote greater participation of ‘ordinary’ youths rather than having awards that focus on top entrepreneurs/youths Expose our youths to cross-border challenges, for e.g. the socio-economic effects of increasing globalisation, or environmental pollution due to economic activity, in order to encourage responsible entrepreneurship Future Regional Aspirations