FOR IMMEDIATE RELEASE
29th March 2012
Can Entrepreneurship Be Taught?
Much debate has been made about whether entrepreneurship can be taught to entrepreneurs or entrepreneurs are born. Past research studies by two professors from University of Virginia and IMD, Prof Saras Saravathy and Prof Stuart Read respectively, resulted in the “Effectual Thinking” framework, leading to a much wider body of knowledge that entrepreneurs can be taught. The learning process of how entrepreneurs start their businesses and how they proceed to venture creation can be framed, systematized and taught to new would-be entrepreneurs using the “Effectual Entrepreneurship in Action” framework.
The research of more than 60 founding entrepreneurs with highly successful business led the conclusion that expert entrepreneurs use the effectual thinking method of logical thinking instead of causal method. Effectual thinking method is based on who am I, what I know and whom I know to the initial value of the business. Each means that is gathered through the expansion of the entrepreneur’s network can create new venture possibilities and subsequently evolve into new ventures. Unlike the effectual method, causal method focuses on goal settings, situation analysis and strategies to getting to the goals. It is much more management science compared to effectual method.
MAD Incubator is collaborating with a global movement of Effectuation Instructors and Practitioners, started by Professor Saras Saravathy in the University of Virginia, to apply the Effectual theory into practice. This is the first in the world that is being used on entrepreneurs. This new program is called “Ideas Acceleration Program”. The Ideas Acceleration Program is structured using the “Effectual Reasoning” method in which MAD is championing as the reason why entrepreneurs are entrepreneurial.
MAD Incubator announced today the launch of the MAD Ideas Acceleration Program at its Technopreneur Open Day in Technology Park Malaysia. The Ideas Acceleration Program is a 3 months program comprising a combination of field work, classroom workshops, mentors, industry mixers and guest talks. It is a hands-on intensive program to bring entrepreneurs closer from ideation to creating a new venture. The program will commence on April 16 and prior to the launch, more than 20 entrepreneurs have signed up.
“This has never been done in Malaysia before,” said MAD’s CEO, Andrew Wong; “and MAD Incubator is always creating new frontier in Entrepreneur Development,” he added. MAD’s goal is to develop 100 new ventures through the Ideas Acceleration Program over the next 9 months in which batches of 35 entrepreneurs will be accepted in the each 3-months program. “We have lined up a list of exciting mentors, workshops and industry mixers to make sure that our entrepreneurs will be able to expand their network and subsequently move the venture forward,” said Wong.
MAD Incubator hopes that the IAP will springboard more entrepreneurs into business, moving Wong’s dream closer to achieving the 1000 entrepreneurs that he intends to develop by 2015.
Ir. Aziz bin Ismail (President of Technopreneur Association of Malaysia) sharing his insights on Software as a Service (SaaS). He also introduced SME Connect during TOD.
Kashminder Singh (Executive Editor of Mobile World Magazine) was sharing his insights on mobile industry with audience during TOD.
Mr. Lee Wei Chee (CEO of ZA Solutions) speaking about Social Gaming.
Mr. Lim Kok Hing (Executive Director of iPay88) talked about Internet-based business industry development.
About MAD Incubator
As founders, we formed MAD Incubator on the premise that every technopreneur deserves to have a chance to succeed and experience technopreneurship to the fullest. We leverage on our experience as technopreneurs to help you make a difference!
We serve only the best programs and support services; and our programs are designed to incorporate diverse technopreneurship experiences, thus ensuring that start-up technopreneurs are able to learn and gain better knowledge to succeed in the technopreneurial world.
Working with community and government stakeholders, MAD aims to accelerate technopreneurship development and innovation by helping technopreneurs to build technopreneurship and software skills; solutions and businesses.
We treat everyone at MAD Incubator as an important part of the MAD Incubator community. Talk to our incubator managers, watch them work, engage them and never hesitate to push the service button and engage us. Have fun and enjoy the world of technopreneurship.
We’re here to help you succeed and Make a Difference!