A Memorandum of Understanding (MOU) was signed between Faculty of Business and Management of Universiti Teknologi MARA (UiTM) and World Startup Festival (WSF), on 8 January 2020 to strengthen the capacity of UiTM and youth entrepreneurship in the region.
The ceremony was held at UiTM Shah Alam where UiTM was represented by the Vice-Chancellor (VC) of the University, Professor Emeritus Datuk Ir. Dr. Mohd Azraai Kassim, while WSF was represented by their Asia Regional Director, Mr. Udesh Chaskar.
World Startup Festival is a global entrepreneurship platform from the United States of America (USA), which uniquely captures the best of entrepreneurial spirit, diversity, vibrancy, and creative innovation of young people and women across the globe. This MOU hopes to enrich the global acceleration of the UiTM entrepreneurship program, anchored by the Faculty of Business and Management (FBM).
At present, FBM offers Bachelor of Business Administration, (BBA) (Hons) in Entrepreneurship program that allows the students to identify and evaluate viable business opportunities, secure market resources and mobilize personnel. Moreover, the faculty has also taken the lead by offering the course “Principles of Entrepreneurship” for all degree students at the Business Management and Social Science and Humanities clusters.
FBM works closely with Malaysia Digital Economy Corporation (MDEC) in setting up the digital economy platform that allows the students to experience the simulations of becoming entrepreneurs and digital workforce talents. With this initiative, 205 faculty members have been certified by MDEC as professional trainers who are competent and qualified, to ensure the quality of education.
Thus, the MOU will serve as a platform to advance the university entrepreneurship programs in the area of students and entrepreneurship development, startup linkages, venture buildings and regional entrepreneurship exchanges in the pursuit of fulfilling the United Nations Sustainable Development Goals (SDGs) pertaining to the partnership, youth, and entrepreneurship.
In his welcome speech, the VC said, “the university is looking forward to this kind of collaboration which encourages entrepreneurship, leadership, innovation and talent development among the youth”. He further added that “the partnership with WSF is a significant strategy, which will set a new landmark for the students and lecturers to access the global information and tools that they need to make a difference, find their own path and contribute actively to the society and the nation.”
Meanwhile, Udesh Chaskar mentioned that “this collaboration is amongst the first of its kind with an academic institution in Malaysia.
The MOU signing ceremony was witnessed by Associate Professor Dr Siti Halijjah Shariff, the former Dean of the Faculty of Business and Management, UiTM and Dato’ Sri Steven Ng, from WSF Ventures along with His Excellency Nico Barito, The Envoy of President Seychelles for ASEAN & Executive Chairman of FORSEAA (Forum of SMEs AFRICA ASEAN).