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Wednesday, May 15, 2019

Public Sector's role to enhance the entrepreneurial ecosystem

The real challenge of the Government and Ministerial departments is to develop the entrepreneurial policy suitable and sustainable base on the current strength and economic trend. Also to avoid duplication or a borrow model from another ecosystem to try to create change via direct intervention.

To develop a set of general principle to support the enterprise development and the entrepreneurial ecosystem for youth have two approaches. First one is the ‘traditional’ approach that gives importance on building total number of businesses via start-up programs, grants financing, investment and technological support. These kinds of programmes are ‘transactional’. Even though it creates some kind of value but cannot guarantee success. It’s similar to you pick a few successful businesses as winners.


The ‘growth oriented’ model starts with the ‘relational’ approach. The focus is on entrepreneurial leadership and knowledge transformation of growing institutions or businesses. It encompasses the networks and how to capture and grow the network at local, national and international level.

The key feature is the strategic expansion of the team running the business. The Model assists the business seeking to grow the right environment and support by linking up with customers, supplier and other ‘actors’ within the eco system who can provide resources.

Youth Business Sri Lanka & National Human Resource Development Council of Sri Lanka Programme

Overall Objective

Selecting entrepreneurship as an important economic tool, developing economic opportunity and creating jobs in emerging markets

Objective

  • 1.      To build entrepreneurial culture to contribute to the entrepreneurial ecosystem by training, network and private sector engagement
  • 2.      To build Mentor network to support the entrepreneurship innovation and creativity
  • 3.      To design a feedback system with research & development to support the entrepreneurial policy development


 Objective 1

Key areas and activities

1.      Identifying and training entrepreneurs

New venture identification and interaction with entrepreneurial knowledge will be given through practical training. These are local context bas training that will help entrepreneurs to live and face the reality of the business world. Assisting entrepreneurs to open themselves to new business thinking and pursue sustainable ventures. These are not traditional business planning or financial training such as start your business or improve your business.

2.      Connecting and sustaining the businesses

Generating new networks or expanding within the country by providing instant access to information, tools, and experienced professional assistance, as well as the capital necessary for success.

3.      Facilitating market access

Using social media tools to get market penetration with knowledge on quality standards.

4.      Enabling supportive policy and celebrating entrepreneurs

Promoting the success of potential high growth, high impact enterprises to foster growth through events and awards.

Objective 2

State Mentoring Partnerships

By bringing together different stake holders with expertise for mentoring across the state, eliminating duplication of efforts and offering centralized services, State Mentoring Partnerships can help mentoring programs make the most of limited resources.

State and Local Mentoring Partnerships serve as “mentoring central” for their states or communities, providing leadership, resources and a rallying point for mentoring providers in their area. State Mentoring Partnerships serve a unique role as a clearinghouse for information and resources.

·         Increase the number of young people with mentors in the state;
·         Increase resources in the state dedicated to mentoring;
·         Promote quality standards for mentoring programs;
·     Expand mentoring programming and opportunities tailored to the needs and circumstances of young people.

The result is better service, greater collaboration, smarter use of resources and more youth in quality mentoring relationships.

Youth Business Sri Lanka can serves as the education, research and training arm for National Mentoring Partnership, offering a wealth of products and services to the entire mentoring field.

Resources and services include the following:

• Mentoring Training and strategy
The nation’s most comprehensive source for mentoring information and resources,
focusing on the needs of mentors, caring adults, community leaders and mentoring program staff.

Includes a Research Corner, with analysis of the latest research in the mentoring field; information on how to advocate for mentoring and tools for starting, managing, sustaining and evaluating mentoring programs.

• National Mentoring Database:
Includes youth mentoring programs networking and serves as a volunteer referral service, enabling prospective mentors to search for a local mentoring program and express an interest in learning more. Mentoring programs that agree to adhere to the
Elements of Effective Practice are invited to register for this free service at YBSL website.


• After-school Program Clearinghouse:
 After-school programs that Features information on how to implement or strengthen a mentoring program, as well as an inclusive list of resources for activities, collaboration, curricula, and research & evaluation materials for after-school.

Objective 3
To involve all the key stake holders of the entrepreneurial ecosystem by creating regular forum that will have 4 layers.
The first layer is school O/L & A/L and partners
The second layer university graduates and partners
The third layer Entrepreneurs circle involved in ventures
The four layer Ministries and departments 

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