Big firms can help develop entrepreneurship

One of the views that emerged from a virtual roundtable organised by The Business Times, to identify the views and concerns of stakeholders in the entrepreneurship scene in Singapore, is getting Singaporeans to be more open to entrepreneurship as a career and to jobs associated with start-ups. SMU Institute of Innovation and Entrepreneurship Director Desai Narasimhalu noted that the need to educate society, especially parents, that entrepreneurship is a bona fide career track. He pointed out that it would be important to work with government-linked companies (GLCs) to highlight to them the value in hiring entrepreneurs, whether they were successful or not, as this would encourage young Singaporeans and their parents to take the risk of delving into entrepreneurship knowing full well that the skills they learn there would be valued by employers. Panellists felt that large Singapore companies could play a major role in developing entrepreneurship. Mr Narasimhalu said that they should be encouraged to set aside some percentage of their profits for investment into privately-run venture capital funds and proposed using tax incentives to lead them down this path.

Source
The Business Times