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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