Nurturing Entrepreneurial, Innovative and Creative Students towards Competitiveness – the Nanyang Experience Joseph CY Wan Founding Dy Director Nanyang Technopreneurship Center Nanyang Technological University Singapore Session T3A
Jun 26, 2015
Nurturing Entrepreneurial,
Innovative and Creative Students
towards Competitiveness – the Nanyang Experience
Joseph CY Wan
Founding Dy Director
Nanyang Technopreneurship Center
Nanyang Technological University
Singapore
Session T3A
Towards an Innovation Driven Economy:
Building up a knowledge-based economy
To maintain our competitiveness, Singapore needs to
move to an innovation phase of our development and
promote activities with more innovative and design content.
This means mastering science and technology.
-National Technology Plan, 1991
-National Science and Technology Board
© JCY Wan
Singapore has been investing heavily in R&D for more than 20 years.
We are now striving towards a knowledge-intensive, innovation-driven
economy.
© JCY Wan
Source: National Research Fund, Singapore
The major contributor to our GDP is manufacturing,
which makes up around 20%.
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2000s – Dot-com Crash
During that period, the worldwide entrepreneurial environment was bleak, as
venture capital funds suffered huge losses in the aftermath of the dot-com crash
and 9-11.
There were not many start-up companies in Singapore, limited
venture capital activity, and interest in entrepreneurship, especially since technology start-ups were still nascent.
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2006 - Establishment of the National Framework for
Research, Innovation and Enterprise (NFRIE)
The NFRIE is a national programme to:
grow innovation and entrepreneurship in Singapore and
encourage universities and polytechnics to translate their
research into commercial products for the market and assist
entrepreneurs to set up technology-based companies.
In 2010 the RIEC unveiled a S$16.1 billion national budget
for research, innovation and enterprise from 2011 to 2015.
Research, Innovation and Enterprise Council (REIC)
1. New knowledge and ideas 2. Development of scientific talent 3. Emphasis on competitive funding 4. Strengthen synergies 5. Focus on economic outcomes 6. Stronger for support for scientists
Six key strategies:
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Source: RIE 2015, Singapore
Transforming Singapore’s Economy
1. Focussing a greater proportion of R&D on economic outcomes 2. Providing greater support for private sector R&D and closer collaborations
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Source: National Research Fund, Singapore
Nurturing Technology Enterprises
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Source: National Research Fund, Singapore
To meet the challenges of globalisation, Singapore’s next
generation must be both innovative and entrepreneurial
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Nurturing the entrepreneurial, innovative and creativity spirit and
culture among students in Nanyang Technological University (NTU)
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The challenge for universities is to move from the conventional wisdom
and established conventions …
… to a creative and enterprising approach in response to the changing
business landscape and dynamics often with disruptive innovations.
NTI Peat Marwick Entrepreneurship Development Centre
(ENDEC) - 1989
Nanyang Technopreneurship Center (NTC) - 2001
Business Management -Diagnostic -Financial health
-Leveraging on technology -Ecosystem -Business models
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NTC’s mission has now been redefined in order to
remain relevant.
"To inspire and develop entrepreneurs with the
heart, will and capability to make a positive and meaningful difference to society."
“Nurturing creative and entrepreneurial leaders
through a broad education in diverse
disciplines.”
Aligned with NTU’s mission
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In response to market demands, NTC has broadened its education thrust
into offering a spectrum of programs, highly relevant and practice oriented
and academically vigorous:
PROGRAMMES ACTIVITIES
NTC Face-off (Entrepreneurship
Debate)
Undergraduate programmes Electives Minor in Entreprenurship
Postgraduate programme
Executive programmes: English Mandarin
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Content In-the-classroom
Context Out-of-the-classroom
Infrastructure Enablers and
Strategic Alliances
Our Approach and Philosophy
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UNDERGRADUATE PROGRAMME
Introduction to Entrepreneurship elective E-Startups and Social Media Strategies Bio-entrepreneurship elective Minor in Entrepreneurship
Existing Academic Programmes
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START-UP STAGE
• Entrepreneurship & Business Planning
• New Venture & Entrepreneurial Marketing
• Accounting for New & Ongoing Venture
• Developing New Business Models
GROWTH STAGE
• Strategic Management for New Venture and Technology Firms
MATURE STAGE
• Sustainable Leadership & Strategy Innovation
Curriculum Modeled on the Venture Creation Cycle
Seminars, Entrepreneurship Case Study Project, Immersion Trip
• Strategic Human Resource Management for New & Ongoing Ventures
• Technology, Innovation and Design • IP & Technology Evaluation & Commercialisation
• Venture Capital Financing
• New Venture Creation (Simulation): Implementing Business Strategy & Managing Growth
• Corporate Finance & M&A
Experiential Learning; Cultural Immersion
Kellogg Innovation Network
Some institutions that NTC collaborates with
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Collaborations with professional bodies
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• Seed Funding
• NTC Silicon Valley
Entrepreneurship
Forum
• Spring-NTU High
Potential Leadership
course for SMEs
2014
• Course Partner
2014
• Sponsorship for
Ideas
Inc
NTC Silicon Valley
Entrepreneurship
Forum
• Singapore Training
Development
Alliance
• Curating Partner
Collaborations with Government Agencies
by
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SPRING-NTU Hi-potential SME Leadership Programme
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Entrepreneurship
Study
Business Management
Study
Technology Commercialization
Study
Innovation Study
Emphasis on ASIA
GLOBAL Context
Entrepreneurship Skill Set
Enterprising Mindset/Intent
Business Knowhow
Entrepreneurial Behavior
MScTechnopreneurship and Innovation
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“It is not the strongest of the species that
survives, nor the most intelligent,
but the ones most responsive to change.”
- Charles Darwin
© JCY Wan
Thank you
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