Entrepreneurship is one of the areas the Malaysian government wishes to develop to drive the country towards a knowledge-driven economy by 2020 and the ‘entrepreneurship’ buzzword has been making its rounds in Malaysia over the last few years. This can be attributed to the ambition and initiatives placed by the government which spurred this growth.

Developing holistic, entrepreneurial and balanced graduates is one of the shifts in the Malaysia Higher Education Blueprint 2015 – 2025. The Ministry of Higher Education aspires to develop Malaysian graduates to be job creators rather than job seekers, targeting to have seven to eight per cent of graduates to venture into entrepreneurship as their careers by 2020. Initiatives were implemented to include entrepreneurship elements into their studies, especially in niche areas like digital, social and techno-preneurship.

There is no lack of interest in entrepreneurship for Malaysians. A 2015 report pointed out that 62% want to start their own business. Coupled with the fact that millennials, in general, are considered one of the most entrepreneurial generation, it would be expected that interest in entrepreneurship is set to grow in the years to come.

The government also has an ambition to make Malaysia a hub for tech start-ups and thus, introduced the Malaysia Tech Entrepreneur Programme (MTEP). MTEP is an initiative to encourage techno-preneurs kick-start their startups in Malaysia, promising to provide a strong platform and access to the large ASEAN market. Generous incentives are offered to startups planning to make Malaysia their base.

Commentary by Jennifer Wan, British Council Malaysia

Career outcomes has frequently been quoted as one of the emerging decision making factor when an international student decides on a course and institution. This is especially evident in Malaysia where high graduate unemployment rates and constant negative press on dissatisfaction of employers on Malaysian graduates is nothing new. In 2015, the unemployment rate of youths with tertiary education is at a staggering 15 per cent.

Venturing into entrepreneurship – ie creating their own jobs – is thus a likely option to counter this problem. Although Malaysian universities have been proactive in including entrepreneurship elements in their curriculum, the question which remains will still be the way the courses are structured and whether students are taught and given the opportunity to obtain real workplace experience. Besides this, international experience in a global business world is also crucial. Stakeholders mentioned that if the students are just taught an entrepreneurship programme, then these graduates would still lack the creative thinking and problem solving skills which are the problems in the current unemployed graduates.

UK institutions with excellent courses or niche specialisations in entrepreneurship and credible graduate outcomes may find this an opportunity to promote their capabilities to Malaysian students.

British Council Malaysia will be organising an entrepreneurship promotion campaign in September targeted to showcase UK’s expertise in entrepreneurship education to Malaysian students and parents. Institutions interested to participate can contact Jennifer Wan for more information