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Entrepreneurial education needed

Small and medium-sized enterprises mushroomed in Taiwan when the country's economy was just taking off more than 20 years ago. These enterprises became the driving force behind Taiwan's economic miracle. Now, with graduation season upon us and rising unemployment, we should ask whether young people nowadays can achieve similar results by starting their own businesses.

Entrepreneurship in a knowledge-based economy is quite different from that in the traditional economic system of 20 years ago. Personal connections and hard work were a must in the past. Now, in addition to these factors, a global perspective and professional skills are also basic requirements.

In the past, information on starting a new business came from one's relatives and friends, who formed an almost fixed personal network. It was not necessary to have advanced skills. But in the current globalized and technology-driven economy, traditional accumulated experience might be insufficient. Nowadays, people must have a deep understanding of the international situation to be successful entrepreneurs. They must also learn professional management knowledge such as information relating to business channels and personnel matters.

Today, young students generally take a pessimistic attitude toward their future employment. The government might consider adopting the following measures to create a wave of entrepreneurship among young people.

First, encourage young people to look for entrepreneurial opportunities abroad. The government could set up a special fund to help youth learn new skills abroad and bring home concrete entrepreneurial plans. The government should also provide support and cooperation through domestic scholars and relevant industries, forming a network for brainstorming and promoting business opportunities.

Second, encourage students to cultivate the entrepreneurial spirit and a global perspective. This goal can be achieved by holding entrepreneurial competitions and providing loans for going abroad. Although many domestic universities have set up training centers, they have generally achieved little. These centers put too much emphasis on end products, and overlook the fundamental problems hidden in social and campus cultures. Compared with 20 years ago, the present learning environment has indeed improved, but the spirit of adventure has weakened among students.

A knowledge-based economy is built on a foundation of innovation. The lack of a spirit of risk-taking and persistence will only create endless daydreams. In other words, what students lack most and what universities need to work on is how to put these creative ideas into action.

Third, reform university education and stop the myth that memorization and taking exams are effective learning methods. Students should be helped to develop their own potential and discard unnecessary traditional restrictions. We should encourage them to challenge authority, respect professionals, care for others and foster the entrepreneurial spirit.

The phenomenon of "creative destruction" (創造性毀滅) in the new economy is worth reflecting on. In the era of this new economy, many old careers disappear and new ones are generated. If this kind of destruction is what Charles Dickens was referring to when he wrote, "It was the season of Light, it was the season of Darkness," then, the season of light will only come after young people realize their entrepreneurial dreams. The government's responsibility is to nurture independent and creative students, and provide them with necessary assistance and room for development, to create a second boom for Taiwan's economy. Otherwise, the young unemployed will become Taiwan's worst nightmare.

Bob Kuo is a professor of information systems at National Sun Yat-sen University. Liu Ching-yi is an assistant professor of law at National Central University.

Translated by Jackie Lin
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