AKEPT Seminar 13-14 December 2011 Kuala Lumpur

1. ENTREPRENEURSHIP IN HIGHER EDUCATION: INCREASING COMPETITIVENESS, ENHANCING RESILIENCE AKEPT Seminar 13-14 December 2011 Kuala Lumpur "The Entrepreneurial Method - Theory and Practice at the University of Amsterdam and Science Park Amsterdam" G.T. VINIG, Ph.D. Director, Amsterdam Center for Entrepreneurship @ Science Park Associate professor for Entrepreneurship University of Amsterdam Business School Roetersstraat 11 | Room E2.75 | 1018WB Amsterdam, NL T +31 20 525 4173 / 7889 www.ScienceParkAmsterdam.nl/ace Professor for Entrepreneurship Jilin University School of Economics, Changchun, China Visiting professor, Asia Europe Institute, U of Malaya (2003-2010)

2. Entrepreneurship Education as a response to the economic crisis? Entrepreneurship Education in HEI’s: Sharing Experience

3. Let us start with a provocative idea ... • There exists an ‘Entrepreneurial Method’ in analogy to the ‘Scientific Method’ we teach in universities Entrepreneurship Education in HEI’s: Sharing Experience

4. The Entrepreneurial Method at a meta level • The Entrepreneurial Method is a generalized method of thoughtaction, reasoning and problem solving skills which specifies ‘learnable’ and ‘teachable’ principles that are applicable to the emergence, creation of new ventures, markets, services and technologies • From “Let us approach this scientifically....from scientific view point” To “Let us approach this from entrepreneurial view point” • Like the scientific methods, the entrepreneurial method can be taught / learned Entrepreneurship Education in HEI’s: Sharing Experience

5. The Entrepreneurial Method • The building blocks of the Entrepreneurial Methods are: • The Entrepreneurial Method facilitates the creation, emergence of the new -- ventures, markets, products, technologies, services • The main (economic) resource is Idea of which there is an infinite supply • The entrepreneurial process is central to opportunities recognition • Principles of the Entrepreneurial Method: (Effectuation) • The means (resources) principle: Means are given therefore there are multiple possible outcomes • Risk - loss principle: Selection of a possible outcome based on affordable loss and acceptable risk • The outcome principle: New (niche) market offerings, through alliances and cooperations • The logic: dealing with uncertain future -- to the extend that we can adopt to (create?) the future, we do not need to predict it Entrepreneurship Education in HEI’s: Sharing Experience

6. Application of the ‘Entrepreneurial Method’ to Management Entrepreneurship Education in HEI’s: Sharing Experience

7. Next provocative idea • Forget globalization ... • Build local and regional ecosystem and networks to facilitate entrepreneurship • With open boundaries between education institutes, industry and government • And local networks as coordination layer (Alumni, Ethnic association, informal social networks, professional networks...) • Silicon Valley is (local) SME dominated: Over 29,000 companies started in the 1990s, about 1/4 (7200), have more then 5 employees, 3/4 (21,750) have 1-4 employees • Want to Globalize?Linkregional ecosystem and networks to global value chain through Diaspora networks (How large is the Malaysian Diaspora?) Entrepreneurship Education in HEI’s: Sharing Experience

8. Malaysian Diaspora Networks

9. And it all start with education • Embedding the Entrepreneurial Method in regular education as a generalized method, like the scientific method, with its distinct set of reasoning and problem solving skills and action • Position entrepreneurship as a drive of social and economic change, as an investment... in innovation • We can and should exclude no one from the category of potential entrepreneur • At the University of Amsterdam we offer Entrepreneurship programs at the Bachelor and Masters level, and as part of our MBA • Our center of entrepreneurship is integrated into education through our ‘Linking Science with Business’ program and introducing the element of competition Entrepreneurship Education in HEI’s: Sharing Experience

10. Co-founded by a consortium including: Entrepreneurship Education in HEI’s: Sharing Experience

11. Universities and Researchinstitutes: • Science Park UvA • Amolf -Science faculty • CWI -AMC • Nikhef • SARA VU • -VUMC • NKI • NVI • -Science faculty ACE @ Science Park M a r k e t “Linking Science with Business” Fundamental Research Pre-seed coaching (Proof of Concept) Idea Price Competition Business Case, business plan project Article (Innovation?) Research Proposal Applied Research Incubator Publish and go to the next research project Entrepreneurship Education in HEI’s: Sharing Experience

12. Does it Work? -1st price NewVenture round 1 (2008) -top 10 in the finals (national) -Winnar of AT5 Elevetor Pitch -Presented in KRO’s Dragons’Den Amsterdam Center for Entrepreneurship (ACE) TomTom Innovation Award -1st price NewVenture round 1 (2009) -Top 10 finalists Entrepreneurship Education in HEI’s: Sharing Experience

13. Alumni students entrepreneurs Entrepreneurship Education in HEI’s: Sharing Experience

14. Thank you. Questions? G.T. VINIG, Ph.D. Director, Amsterdam Center for Entrepreneurship @ Science Park Associate professor for Entrepreneurship University of Amsterdam Business School Roetersstraat 11 | Room E2.75 | 1018WB Amsterdam, NL T +31 20 525 4173 / 7889 www.ScienceParkAmsterdam.nl/ace Professor for Entrepreneurship Jilin University School of Economics, Changchun, China Visiting professor, Asia Europe Institute, U of Malaya (2003-2010)