Latest news with #Entrepreneurship
Daily Express
9 hours ago
- Business
- Daily Express
University College Sabah Foundation inks MoU with Indonesian varsity
Published on: Tuesday, July 22, 2025 Published on: Tue, Jul 22, 2025 Text Size: Dr Rafiq Idris (2nd from left) and Dr Harnovinsah (third from left) signing the MoU between UCSF and Universitas Pancasila, Jakarta, Indonesia in Kota Kinabalu on Monday. Kota Kinabalu: Regional collaboration in higher education received a boost as Universitas Pancasila (UP) of Indonesia and University College Sabah Foundation (UCSF) Malaysia, signed a Memorandum of Understanding (MoU), here, Monday. The MoU was signed by UP Faculty of Economics and Business Dean Dr Harnovinsah, C.A, and UCSF Vice Chancellor Datuk Dr Rafiq Idris, marking a joint commitment to advance the implementation of Tridharma of Higher Education, particularly in student mobility, collaborative research and the development of the Kampus Berdampak programme. 'This collaboration is not merely a formal ceremony, but a commitment to build cross-border relations that are progressive, innovative, and responsive to global challenges,' Dr Harnovinsah said. He also expressed appreciation towards UCSF, describing it as a prominent institution in health sciences, research and community service. Also present at the event were Chairman of UCSF's Board of Directors Datuk Mohd Yaakub Hj Johari, along with senior university officials. Meanwhile, Dr Rafiq said UCSF remains committed to strengthening academic, research, and community service cooperation between the two institutions. 'There is much we can learn from, benefit from, and share with each other,' he said. The ceremony also featured the International Seminar on Youth, Entrepreneurship and Innovation: Malaysia–Indonesia Perspectives, which brought together academics and young thinkers from both countries in an open scholarly forum. The seminar included presentations by Dr Erwin Permana, Deputy Dean II of FEB UP and head of the Entrepreneurship course, and Siti Rahma, a lecturer from UCSF. While UCSF Faculty of Management & Entrepreneurship Dean, Najmi Abdullah, delivered the keynote address at the start of the seminar. Discussions centred on the need to enhance regional cooperation in building an inclusive, sustainable and high-impact entrepreneurial ecosystem for society. Both institutions reiterated their commitment to not only produce academically excellent graduates, but also highly competitive individuals capable of making meaningful contributions to the socio-economic development of Southeast Asia. The MoU is expected to serve as a catalyst for closer bilateral ties between Malaysia and Indonesia in higher education, innovation and global human capital development.
Arab News
20 hours ago
- Business
- Arab News
Foreign startup registrations in Saudi Arabia rise 118%
RIYADH: Saudi Arabia's Ministry of Investment has granted 550 foreign new ventures the Startup Investment Registration, known as the Riyadi license, as of mid-2025, marking an annual rise of 118 percent. The Small and Medium Enterprises General Authority, known as Monshaʾat, has issued 364 licenses to business incubators and accelerators nationwide, according to a report by the body. Monshaʾat said these entities provide facilities for prototype development, mentorship, and connections to investors and commercial partners. The increase in Riyadi registrations aligns with the Kingdom's surge in venture capital activity. According to regional platform MAGNiTT, Saudi Arabia led MENA VC funding in the first half of 2025, with $860 million raised, representing a 116 percent annual increase across 114 deals. This marked a 31 percent rise in deal count compared to the same period in 2024. This momentum built on a record 2024 performance, when startups in the Kingdom secured $750 million in funding and saw a 34 percent increase in early- and mid-stage 'MEGA' rounds below $100 million. 'This increase forms part of joint national efforts to reinforce the Kingdom's role as a regional hub for entrepreneurship by streamlining market access for foreign startups and establishing a flexible regulatory environment that supports innovation and attracts investment,' Monsha'at's report said. According to the Ministry of Investment, this trend reflects growing international interest in Saudi Arabia's investment environment, underpinned by recent legislative changes, expanded digital infrastructure, and a range of support programs introduced in line with the objectives of Vision 2030. Saudi organizers have hosted international startup events, including Biban and LEAP, which feature presentations on the local ecosystem and investment opportunities. Government agencies and private-sector representatives have attended overseas gatherings, such as the Web Summit, VivaTech, and Slush, to facilitate networking with foreign entrepreneurs and promote the Kingdom as a potential base for regional operations. In addition to the Riyadi permit, the Ministry of Investment will issue a full suite of eight sector-specific business licenses, designed to accommodate virtually any foreign investor's needs. These include service licenses, which permit 100 percent foreign ownership for activities such as IT, consulting, marketing, and hospitality; entrepreneurial authorizations that offer streamlined fees and access to government-led support for startups; and industrial licenses for establishing manufacturing facilities. Specialized agricultural permits cover crop cultivation and animal husbandry, while trade licenses authorize wholesale, retail and import-export operations. Additional categories encompass real estate licenses for development and brokerage projects, professional permits for individual practitioners and solidarity firms, and mining licenses for exploration and extraction activities. Each permit carries tailored minimum-capital requirements and documentation processes, but all are obtainable through MISA's online portal, which centralizes application, approval and renewal under a unified regulatory framework.
Zawya
15-07-2025
- Business
- Zawya
World Youth Skills Day: African Development Bank to introduce systems reforms to prioritize investing in Africa's youth
The African Development Bank ( in partnership with the International Labour Organization, has launched a transformative system to mainstream youth employment, skills development, and entrepreneurship across its investments. The approach, called the Youth, Jobs and Skills Marker System, is aligned with the Bank's latest Ten-Year Strategy, which places Africa's young people at the center of development efforts to maximize the impact of every dollar invested, turning demographics into a dividend. The Marker System ensures that Bank projects spanning diverse sectors, such as agriculture, transport, energy, water, and education, systematically incorporate components that enhance youth employability, foster entrepreneurship, and build market-relevant skills. 'The Youth, Jobs and Skills Marker System is about ensuring Africa's young people have a real say and active role in building sustainable economies and creating jobs - not as passive recipients of youth programs,' said Dr. Beth Dunford, the Bank's Vice President for Agriculture, Human and Social Development. 'This transformation of Bank practices and systems is a step toward making sure our investments have a positive impact on Africa's young women and men.' The integrated system has three focus areas: Youth: Supporting youth-led micro, small, and medium-sized enterprises through targeted investments and operational integration. Skills: Expanding access to practical, market-driven training and apprenticeships to enhance career prospects. Jobs: Ensuring Bank-funded projects create sustainable job opportunities, particularly by developing youth skills for employability and the promotion of youth-led businesses in priority value chains. Each year, around 10 to 12 million young Africans enter the labor market, which offers only three million formal jobs annually. The Bank will prioritize youth entrepreneurship and mobilize private sector partnerships to strengthen industry-oriented skills training as well as job creation over the coming decade. '[This initiative] is very important because it allows us to significantly contribute to the United Nations Sustainable Development Goal #8 that includes decent work for all,' said Peter van Rooij, Director of Multilateral Partnerships and Development Cooperation at the International Labour Organization. 'It also allows the International Labour Organization to influence the Bank's work, to support their lending that is more geared toward more job creation and better jobs in a sustainable way.' The Youth, Jobs and Skills Marker System is modeled on the success of the Bank's Gender Marker System and its online dashboard, which categorize Bank projects based on their contribution to gender equality and women's empowerment. Similarly, the new system will feature an online platform enabling Bank staff and consultants to access real-time data for preparing country strategy papers, mid-term reviews, annual reports, project supervision, and reporting on youth-related skills, businesses and jobs outcomes. The Bank has just launched a pilot version of the Youth, Jobs and Skills Marker System in readiness for the full implementation in 2026. This system will enhance data tracking, improve estimates of youth skills attainment and employment, strengthen labor market information systems, and support policymakers in making evidence-based decisions that drive meaningful change. The International Labour Organization provided technical support for the system's development with financial support from the Bank's Youth Entrepreneurship and Innovation Multi-Donor Trust Fund. The Youth, Jobs and Skills Marker System is the first deliberate action of its kind developed by a development finance institution worldwide. Distributed by APO Group on behalf of African Development Bank Group (AfDB). To learn more about the Youth, Jobs and Skills Marker System, watch this video: Media Contact: Alphonso Van Marsh Chief Digital Content and Events Officer media@
Entrepreneur
14-07-2025
- Business
- Entrepreneur
Maharashtra to Launch Ambitious Startup and Innovation Policy to Empower Grassroots Entrepreneurs
The policy plans to register 5 lakh skilled youth as "pre-innovators," offering collateral free loans of INR 5–10 lakh with 50% interest subsidy to promote grassroots entrepreneurship and real-world business experience. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a bold move to foster grassroots entrepreneurship and formalise traditional enterprises, the Maharashtra government is on the verge of finalising a comprehensive 'Startup and Innovation Policy'. Designed in collaboration with senior bureaucrat Pravin Pardeshi and renowned scientist Dr Raghunath Mashelkar, the policy aims to provide structured support to scale up startups and innovations across the state. The policy targets the registration of 5 lakh technically skilled youth, including ITI students, 10th pass individuals, and beneficiaries of the Vishwakarma scheme, as "pre-innovators." These individuals will be eligible for collateral free loans ranging from INR 5 lakh to INR 10 lakh, with the government subsidising 50 percent of the interest. The initiative aims to give them real world business experience right from the start. "Most entrepreneurs fail because they lack practical experience. Innovation without experience rarely succeeds. Our model ensures each candidate begins with hands-on business exposure," said a senior government official. After one year, participants will take a simple aptitude test, through which 1 lakh will be selected to move to the next stage as 'innovators'. These individuals will receive technical, financial, and marketing mentorship through district level expert groups. By the third year, 25,000 will evolve into full fledged startups eligible for funding from central, state, and private sources. The policy also addresses a long standing gap in India's startup ecosystem. Despite a decade of national startup programmes, only 1.6 lakh startups are registered across the country, with a success rate of just 10 percent. State officials argue that the lack of structured guidance and practical exposure is a major reason for this shortfall. Another major thrust of the policy is the modernisation of traditional family run businesses in agriculture, dairy, handicrafts, and similar sectors. These will be supported in transitioning into scalable, modern enterprises. To this end, the government plans to set up district level innovation hubs and micro incubators, along with Innovation Centres in every Industrial Training Institute (ITI). The state will also roll out the Chief Minister's Innovator Scheme, which offers collateral free loans with a 50 percent interest subsidy and a one year repayment moratorium. Importantly, subsidies will be routed directly to financial institutions, avoiding direct transfers to individuals. Industry partners are expected to play a key role. The policy offers them a host of incentives including tax benefits, reimbursement of seat fees, access to ITI campuses for exhibitions and job fairs, and the opportunity to run additional training batches via Maharashtra Skill University. "We are changing the entire face of ITIs," said Skill Development Minister Mangal Prabhat Lodha. "A new government resolution will be out within two months. We're not only revamping ITI courses but also launching teacher training. I was shocked to know that some ITI teachers haven't received training in 35 years. How can they teach effectively without it?" To support modern industry needs, ITIs will be equipped with electric vehicles, drones, solar tech, robotics, and 3D printing tools. "We'll also have experts on site to ensure machines are fixed quickly," Lodha added. When asked about declining student registrations in ITIs, Lodha acknowledged the issue, saying, "We were unaware of this trend as admission numbers looked fine. But we're introducing changes this year to address this, and we're confident students will return." Six new courses are being introduced this year, tailored to the needs of local industries. Lodha also encouraged ITIs to offer popular and short term courses to attract more students and promote growth. "This policy isn't just about startups. It's about employment, skills, and real enterprise," said Lodha.
Indian Express
09-07-2025
- Business
- Indian Express
Namibia to introduce India's UPI this year after PM Modi's visit to African nation
Namibia will roll out India's Unified Payments Interface (UPI) later this year, marking a significant step in enhancing digital cooperation between the two countries. The announcement came on Wednesday after talks between Prime Minister Narendra Modi and Namibian President Netumbo Nandi-Ndaitwah aimed at boosting bilateral relations. The Modi-Ndaitwah meeting focused on enhancing cooperation in key sectors such as digital technology, defence, security, agriculture, healthcare, education, and critical minerals. The UPI rollout stems from a technology licensing agreement signed between the National Payments Corporation of India (NPCI) and the Bank of Namibia in April last year. During the bilateral discussions, India and Namibia signed several Memorandums of Understanding (MoUs), including one for establishing an Entrepreneurship Development Center in Namibia and another for cooperation in the field of health and medicine. Namibia has also joined two major India-backed global initiatives — the Coalition for Disaster Resilient Infrastructure (CDRI) and the Global Biofuels Alliance. CDRI focuses on improving infrastructure resilience to climate and disaster-related risks, and includes participation from national governments, international organizations, and the private sector. Following the delegation-level talks, Prime Minister Modi took to X and wrote, 'President Dr. Netumbo Nandi-Ndaitwah and I reviewed the full range of India-Namibia relations during our talks today. Cooperation in areas such as digital technology, defence, security, agriculture, healthcare, education and critical minerals figured prominently in our discussions.' President Dr. Netumbo Nandi-Ndaitwah and I reviewed the full range of India-Namibia relations during our talks today. Cooperation in areas such as digital technology, defence, security, agriculture, healthcare, education and critical minerals figured prominently in our… — Narendra Modi (@narendramodi) July 9, 2025 He added, 'We also discussed how to boost linkages in trade, energy and petrochemicals. Expressed gratitude for the assistance from Namibia in Project Cheetah.' This visit marks Prime Minister Modi's first to Namibia and is only the third-ever by an Indian Prime Minister. He arrived in Namibia from Brazil on the final leg of his five-nation tour. During his visit, Modi paid tribute to Namibia's founding father Sam Nujoma at the Heroes' Acre memorial. 'As the first President of free Namibia, Nujoma made inspiring contribution to the country's nation-making. His legacy continues to inspire people across the world,' said the Ministry of External Affairs in a statement, describing Nujoma as a 'great friend of India.' Modi, who was invited by President Nandi-Ndaitwah, referred to Namibia as a 'valued and trusted partner' in Africa. Earlier, he received a ceremonial welcome, including a guard of honour and a 21-gun salute at the State House. (With PTI inputs)
