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7 steps to promote entrepreneurship among the youth

World Economic Forum identifies seven steps to develop enterprising spirit among the youth.
By Carlo P. Mallo |

Trade secretary Gregory Domingo has been very vocal about the need to inculcate entrepreneurship into the young, instead of training them to become employees.

But in the Philippines, a number of factors exist that make entrepreneurship unattractive.

In the study European Roundtable on Entrepreneurship Education,  the World Economic Forum said there are seven actions needed from the government, educational institutions, and the business sector to promote entrepreneurship among the young.

While the study has been based on the entrepreneurial environment of Europe, these steps may also apply to the Philippine setting.

Identified during the European Roundtable on Entrepreneurship Education organized by the WEF, the  actions needed for entrepreneurship to thrive are the following:

1. Transform the Educational System

Educational institutions, from the earliest levels up, need to adopt 21st century methods and tools to develop the appropriate learning environment for encouraging creativity, innovation and the ability to think “out of the box” to solve problems.

Embedding entrepreneurship and innovation, cross-disciplinary approaches and interactive teaching methods in education requires new models, frameworks and paradigms. It is time to rethink old systems and fundamentally “reboot” the educational process. Changes in the educational system are needed across all levels and should address the lifelong learning process as well as critical links and interactions between levels (primary, secondary, higher and continued education).


2. Build Policy Commitment

The government must act now to address the growing skills gap. This requires a clear and coherent commitment at the highest political levels. Policies should send a strong signal of support for entrepreneurship and also set the strategic framework in which schools and universities can work to implement programs and activities within their institutions.

To do so, greater coordination and action is needed at the national, regional and local levels. In addition, the engagement of stakeholders from academe, business, the NGO community and foundations is important in the development of policies and implementation of programs.

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Page 3: Commitment


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