DEVELOPING FINANCIAL SUPPORT MODEL FOR ENTREPRENEURSHIP EDUCATION IN UNIVERSITIES IN NIGERIA
Abstract
Creating jobs in developed countries is not the sole responsibility of the public sector. The private sector seems to have a major role in solving the problem of unemployment but recent studies show that even the oldest and largest private companies are unable to provide new opportunities to combat the high rate
of unemployment. The question of the type of companies that can provide employment to graduates of Higher Education Institutions (HEIs) therefore arises. Graduates seeking employment can only look up to companies with advanced technology. Currently, the mission of HEIs has changed. Entrepreneurship Education is one course that universities all over Nigeria have had to introduce. Universities have to change their teaching models and methods to reach contemporary levels. Missions and visions of universities will have to be revised in order to include objectives of education suitable for
the collaboration of private sector to support them in the teaching and learning of entrepreneurship education. Universities will also have to seek partnerships with private companies. One of such partnership is called KOSGEB (Small and Medium Enterprises Development Organization) in Turkey. KOSGEB is state owned establishment that provides huge opportunities to potential entrepreneurs who want to establish a new business through its Entrepreneur Support Program. One component of the program is to provide monetary support – up to 100,000 TRL in total. In this study, the researcher will discuss the Entrepreneur Support Program of KOSGEB, it will also find out if KOSGEB programme was a good collaboration that helped students, and how HEIs in Nigeria can apply this support programme to their academic programme. It was recommended that Small and Medium Scale Enterprise Development Agency (SMEDAN) be rebranded to include entrepreneur support programme and that private sectors should support entrepreneurship programmes.
Keywords: Entrepreneur, Education Entrepreneurship, Universities, KOSGEB, SMEs, SMEDAN,Nigeria Introduction
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