Entrepreneurial Initiatives of Daffodil Family
Entrepreneurship Development through Higher Education in DIU Bangladesh is a potential economy with huge entrepreneurial opportunities. Now, it has over 160 million people which have more than 60 percent young generation. At present there are more than 130 private and public universities in Bangladesh. University education acts as the engine of growth for economic and social development of a nation and Universities instill necessary skills and technical expertise that expedite economic and social development of a country. In this age of globalization, the objectives, goals and missions of university education have undergone change all over the world. Information and communication technology has also brought forth a global knowledge revolution. As Bangladesh became a lower middle income country, the associated production and employment structure of the economy are also substantially. Bangladesh economy is growing steadily and it requires a highly skilled labor force equipped with the necessary technical and professional expertise. Without Entrepreneurship development, it is really a challenge to generate new employments for unemployed people. It is a good time to make this generation visionary facilitating and involving them more and more in innovative and entrepreneurial initiatives. These initiatives will in turn generate more employments for the economy.
As one of the top most private universities in Bangladesh, Daffodil International University believes that the unemployment rate can be reduced and overall economic development of the country can be achieved through enhancing entrepreneurial efforts by young generation through gaining the entrepreneurial knowledge in higher education system. We believe in the slogan that should be the motto of students: "Instead of seeking Job, we will provide Job". It means the graduate students will not search for a job only after graduation; they will strive to take initiative and ventures to be young entrepreneur. Daffodil International University has now taken the keystone role to institutionalize and focus the entrepreneurial education at Higher Education Institutions (HEI); as part of the initiative we have started Bachelor of Entrepreneurship at DIU to inspire the educated youths to become entrepreneurs. DIU has also taken laudable initiatives towards entrepreneurship development through entrepreneurial education.
Importance of Entrepreneurial Education Entrepreneurial education emphasizes on the development and application of an enterprising mindset and skills in the context of establishment of a new venture along with developing and growing an existing business venture or designing an entrepreneurial organization. Entrepreneurship education aims at producing graduates who are capable of pointing out the opportunities and developing ventures through establishment of new ventures or developing an existing venture. It focuses on persuading students to utilize enterprising skills as well as attributes to a range of different contexts, including new or existing business ventures, charities, NGOs, public agencies and social organization or enterprises.
Entrepreneurial education outfits students with the additional knowledge, capabilities and attributes which are essential to utilize these abilities in the context of establishment of a new business. The call for a greater emphasis on enterprise and entrepreneurial education is a demand of the present time. Learning about and experiencing enterprise whilst still at university can have several benefits. It gives students an alternative career option and the confidence that they can establish business or enterprise on their own. The enterprise and entrepreneurial education can provide highly engaging learning opportunities, particularly when related to the program of study selected by the student; developing enterprising abilities can enrich both students' educational experience and future prospects of their career, especially within micro and small enterprises. In this context, the Government of Bangladesh formulated different education commissions and education policies with different plans and motives from time to time. These commissions and policies put emphasis on various aspects of education system including Entrepreneurship
Initiatives of Daffodil International University for Entrepreneurship Development
- DIU Industry Academia Lecture Series on Entrepreneurship Development: The Innovation and Incubation Centre (IIC) of Daffodil International University (DIU) took the initiative to arrange a public lecture program under the title of DIU Industry Academia Lecture Series on Entrepreneurship Development. With the aim of informing and motivating educated youth to become entrepreneurs by taking a lesson from the struggles and challenges of twelve well-known entrepreneurs of the country. The lectures of these 12 successful entrepreneurs will be compiled and published as a book which will act as a reference for the students of the Faculty of Business and Economics. This book will help students to apply academic knowledge to real life situations.
- Establishment of Department of Entrepreneurship as a Pioneer in Bangladesh: Daffodil International University established the Department of Entrepreneurship under the Faculty of Business and Economics and introduced the pioneering four-year Bachelor of Entrepreneurship program in Bangladesh. The program aims to create graduates equipped with entrepreneurial skills, knowledge, values and attitudes for their businesses. After successful completion of this program, graduates will be able to transform themselves not only as self-employed business people but also as creators of employment. A group of distinguished entrepreneurs and leading academicians are offering this course through blending theoretical knowledge and practical exposure. Global exposure has also been included in the program with the help of foreign universities. http://de.daffodilvarsity.edu.bd/
- Startup Market: DIU introduced the ‘Startup Market’ at its premises to promote the entrepreneurial potential of students and create more buzz in university life. It is considered a platform for students to run small businesses and learn from that experience. Viable projects will be facilitated commercially in Dhaka and, perhaps, throughout the country. http://www.facebook.com/DIUStartupMarket/
- Organized STARTUP FEST-2016: The Kauffman Foundation, USA, celebrated Global Entrepreneurship Week 2016 in 160 countries this year where 20,000 partner organizations organized 35,000 events all over the world. About 10 million people participated. As a partnering university of the KAUFFMAN FOUNDATION, USA, the Department of Entrepreneurship of Daffodil International University, in association with DIU Career Development Center & Bangladesh Venture Capital, organized the “STARTUP FEST 2016” in November on DIU premises. Mr. Md. Sabur Khan, Chairman, BoT, Daffodil International University, visited the startup ventures as Chief Guest. A total of 40 startup ventures took part and showcased their products and services. http://news.daffodilvarsity.edu.bd/966-%E2%80%9Cstartup-fest-2016%E2%80%9D-observed-at-daffodil-international-university.htmlhttps://youtu.be/psDG4Kz8moc
- Entrepreneur Guidance Program (EGP): EGP focuses on the potential of youth and professionals who are interested in becoming entrepreneurs, self-starters or top executives. Under this program, DIU provides guidance, motivation, knowledge and blue ocean strategy to be a successful entrepreneur. At the same time, EGP also provides a networking business platform that transforms the entrepreneur’s dream into reality. Finally, it helps to start one’s own business or flourish others’ businesses as top executives and leaders. EGP is designed for students, graduates, job holders, executives and anyone who aspires to lead an organization or who is expected to become an entrepreneur in the near future.
- Daffodil Business Incubator (DBI): In order to achieve the goal of creating employment, poverty alleviation and GDP growth in line with the vision of the government, Daffodil International University is the first and only university in Bangladesh to introduce a Business Incubator (DBI) to help entrepreneurs to sustain their startup ventures. The Daffodil Business Incubator started out on 23 September, 2012, with the aim of creating new entrepreneurs through entrepreneurial training and evaluation processes under Daffodil International University. It has already gained trust and a reputation for quality, high standards and success of its students. Some students have already started businesses with support from DBI. DIU has been untiring in its efforts to reduce unemployment in the country by generating young entrepreneurs through the Daffodil Business Incubator. DBI offers a distinctive, creative environment where one’s business ideas can flourish, and one can gain all the advantages of being in close proximity to advanced technology, expertise and the facilities of DBI. Besides, an entrepreneur will also get fully-equipped office space, business advice and guidance from DBI experts, access to funding and advice on preparing bids, be part of a knowledge-based community, access Daffodil International University academic and administrative support, workshops and training opportunities, a prestigious trading address, PCs, office equipment and meeting rooms, access to IT and technical facilities and also growth opportunities of different sister concerns of Daffodil family. http://incubator.daffodilvarsity.edu.bd/
- Bangladesh Venture Capital Limited (BVCL): New entrepreneurs do not have access to friendly capital (from the entrepreneur’s side) to implement their ideas or to bring high growth prospects to their innovations, especially in the early stages. An adequate flow of risk capital (from the investors’ side) in our economy could play a leveraging role to boost entrepreneurial activities. Generally, angel investors and venture capital firms contribute this risk capital for new companies. In view of this effort, Bangladesh Venture Capital Limited (BVCL) has come forward to provide early stage funds for new business ventures. BVCL is encouraging the younger generation, especially students, to see BVCL as a friendly element (for funds) for innovation. BVCL believes that, in the near future, Bangladesh will be the place for the next google, facebook, skype, paypal etc. which were once backed by angel investors and venture capital. http://www.venture.com.bd/
- Career Development Centre (CDC): DIU has a separate wing called the Career Development Center (CDC), which provides support in gathering knowledge and skills about Entrepreneurship to help students to become successful entrepreneurs. The CDC guides students as a navigator, so that they can manage the process of launching a venture in order to become successful entrepreneurs. The CDC also provides full placement support to its students in all areas of professional education – technology, management, Law, pharmacy and sciences. The CDC offers various long-term & short-term training with international and local trainers. http://cdc.daffodilvarsity.edu.bd/
- Daffodil Industrial Innovation Park (DIIP): DIU strives to facilitate youth to become doers through DIIP entrepreneurial facilities to resolve the paradox of education and graduate unemployment as successful role models in Entrepreneurship and Skilled Human Resource Development both at home and abroad. It will strive to shape the entrepreneurship development initiative in the country in a positive way. It will provide industrial technology, training, technical and financial assistance, marketing facilities, quality development of products and other relevant assistance to help young people become entrepreneurs. It will also provide incubation facilities to facilitate young entrepreneurs to survive and develop in the face of business competition.
Services to be provided:
- Skills Training
- One stop service centres
- Patenting reverse engineering, products and innovations
- Testing services for foreign employers
- Showcasing and displaying cultural and heritage products
- Providing & producing necessary machinery
- Incubation services
- Hostel facilities
- Resort facilities
- Sports Ground facilities
- Banking and financial services
- Shopping complexes
- Helipad services
- Laboratory services
- Employment financing services
- Solar power grid
- Backward linkage production zones
Stakeholders of DIIP:
- University Students
- Drop out Students
- Foreign Companies
- Business Executives
- Recruiting Agencies
- Government Organizations (GOs)
- National and International NGOs
- Innovation & Incubation Centre (IIC): To conduct research to innovate new ideas in the area of business and industry; arrange incubation support to forge close ties and co-ordination between innovation and practice; and explore and develop potential new entrepreneurs to implement innovative ideas, Daffodil International University has introduced the Innovation & Incubation Centre (IIC). It has been conducting training programs (Management and Skill Development) in collaboration with BSCIC and independently; providing pre- and post-investment counseling, and consultancy technical assistance to students, trainees and other individuals who want to develop their careers as entrepreneurs; develop standard project profiles, credit proposals, market feasibility reports, etc. for consultancy services; keep in contact with different govt. and non-govt. organizations and trade bodies for assistance and collaboration in different activities; and send proposals to different donor agencies for technical and financial assistance, etc.
- Global Entrepreneurship Summer Program (GESC): The Global Entrepreneurship Summer Program (GESC) is the brainchild of the top management of several Asian universities, who first met during the AUPF held in Guangzhou, China on 5-8 November, 2015. There were 122 participants, of whom seven were from the Department of Entrepreneurship, Daffodil International University, Bangladesh, 20 participants from Mahasarakham University, Thailand, with others from Uni Map. University Malaysia Perlis was the host of GESC-2016.
- Affiliation with Kauffman FastTrack: Daffodil International University has already introduced Planning the Entrepreneurial Venture course of Kauffman Fast Track, USA, under the Department of Entrepreneurship of DIU. Kauffman Fast Track is a global provider of training that equips aspiring and established entrepreneurs with the business skills and insights, tools, resources, and peer networks necessary to start and grow successful ventures. Kauffman Fast Track provides educational resources for U.S. entrepreneurs, works to accelerate entrepreneurship hubs, and helps support organizations that assist entrepreneurs. It also works to advance entrepreneurship by providing research-based knowledge to entrepreneurs, policymakers, and others. https://cdc.daffodilvarsity.edu.bd/kauffman-fasttrack,-usa.html
- Get in the Ring (GITR): Get in the Ring is a very popular global event to connect startups. It’s part of Global Entrepreneurs Network hosted by the Erasmus Centre for Entrepreneurship, Netherlands. During the year 2015, DIU hosted the event for the first time in Bangladesh for participants from 80 countries worldwide. The event created huge hype among the youth of the country. We got a tremendous response, especially from university students. After a short selection, 19 startups were short-listed. The event attracted some very young and talented students who explored the market place during the final contest, which was held on January 17, 2016. The Chief Guest was Dr. Atiur Rahman, Former Governor of Bangladesh Bank. It was a unique evening in the history of Bangladesh with music and dancing providing the backdrop to fierce competition between the startups. https://getinthering.co/partners/https://daffodilvarsity.edu.bd/gitrbd/preamble.html
- Global Youth Entrepreneurship Summit (GYES): DIU organized the Global Youth Entrepreneurship Summit 2015 in association with Dhrubo Tara on the eve of the Global Entrepreneurship Week led by Kauffman Foundation, USA. More than 30 international delegates participated from 10 countries of Asia and Africa. It encouraged students to become young entrepreneurs. http://de.daffodilvarsity.edu.bd/photo-gallery/global-youth-entrepreneurs-summit-2015/
- Entrepreneurship and Innovation Expo: During his tenure as President of Dhaka Chamber of Commerce & Industry (DCCI), the author initiated a scheme for the creation of 2000 entrepreneurs nationwide through the Entrepreneurship and Innovation Expo in association with Bangladesh Bank, at which Daffodil International University played a key role as R&D. His Excellency President of the People’s Republic of Bangladesh, Mr. Md. Abdul Hamid, graced the occasion as the Chief Guest. The objective was to ensure self-employment and employment opportunities in the country. Potential entrepreneurs were given training with the cooperation of IFC and SCITI under the initiative. It was lauded by different ministries of the Government of Bangladesh and the private sector as well as at international level. In recognition of the contribution to entrepreneurship development in Bangladesh, the author achieved the “World Quality Congress Award” from the World Quality Congress and at the same time “Asia's Most Inspiring Nation Builder Award”, given by Top 10 of Asia and Top 10 of Malaysia for his leadership and social contribution to Bangladesh. http://www.business.org.bd/
- Publication of books on Entrepreneurship in two Languages: Mr Khan, during his tenure as President of Dhaka Chamber of Commerce & Industry (DCCI), authored a book in 2013 on entrepreneurship called: ‘Handbook of Entrepreneurship Development’ https://saburkhan.info/images/Handbook_of_Entrepreneurship_Development.pdf in English language. The book was inaugurated by Mr. Md. Abdul Hamid, His Excellency President of the People’s Republic of Bangladesh.
To make his ideas more widely available to students and youth, a Bengali version ‘Uddokta Unnayan Nirdeshika’, was written in 2016 by Mr Khan, which was inaugurated by Mr. Atiur Rahman, while the latter was the Governor of Bangladesh Bank.
Sabur Khan’s next book, ‘A Journey towards Entrepreneurship’, was written and published in 2017. This was inaugurated in the presence of Dr. Qazi Kholiquzzaman Ahmad, Chairman, Palli Karma-Sahayak Foundation (PKSF); Mr. Kazi M. Aminul Islam, Executive Chairman, Bangladesh Investment Development Authority (BIDA); & Mr. Abul Kasem Khan, President, Dhaka Chamber of Commerce and Industry (DCCI).
- Human Resource Development Institute (HRDI): The HRDI of DIU is working to develop quality professionals through encouraging generations to use their brains to solve each and every problem. It conducts ongoing research into techniques that engage the brain and thus produce powerful learning experiences. HRDI has developed techniques that are collectively called Participatory Engaging Techniques or PET. http://hrdinstitute.org/
- Organized "Entrepreneurs MeetUp”: Daffodil Entrepreneurs Network arranged a seminar on "Entrepreneurs MeetUp” with Mr. Sabur Khan, Chairman of Daffodil International University, in 2014, where students of the University were inspired to pursue careers in entrepreneurship. The seminar was organized solely by entrepreneurs, businessmen and businesswomen who have already completed their graduation and post-graduation from Daffodil International University. This networking seminar was atendted by more than 100 Daffodilian entrepreneurs, businessmen and businesswomen.
- Social Business Students Forum (SBSF): Daffodil International University started out with Social Business in Academia in 2012 by organizing a discussion between the vice chancellors and pro-vice chancellors of many universities of Bangladesh on Social Business Day, 2012. Every year a large number of participants from different countries (like Germany, Canada, USA, Japan, China, Korea, etc.) attend different events organized by SBSF & DIU and get wide-ranging experience of social business. The Social Business Team of DIU has also developed the first Social Business Game to create an alternative way of learning and practising social business from a global platform.
- Enterprise Competitiveness Institute (ECI): The aim of establishing ECI is to expand the spirit of entrepreneurship across diverse communities by providing mechanisms to address inequality and exclusion of communities across the globe. It will work to ensure a world where people, regardless of age, gender, culture, demographic region, disability, nationality, social class or status, will have access to quality information, expert training, infrastructure and educational resources to grow and sustain themselves, and their communities through enterprise and entrepreneurship. The activities of ECI include:
- Publishing educational books, textbooks, newsletters, articles, white papers and other public interest materials to increase awareness and understanding of entrepreneurship
- Serving hundreds of educational institutions and thousands of students studying entrepreneurship in them, and potentially impacting millions around the world
- Developing and leading formal instructional and other educational alliances with our Community Partners and Business Supporters
- Providing our Global Entrepreneurship Online Program and other advisory services to the general public worldwide as an educational service
- Producing and leading online courses, public discussion groups, forums, panels, guest lectures, radio programs, and other educational workshops.
- BSCIC-DIU Joint Initiative on Skill Development Centers across the country: Recently Daffodil International University (DIU) and Bangladesh Small and Cottage Industries Corporation (BSCIC) signed an agreement to reactivate and nurture Skill Development Centers across the country. According to the agreement, DIU will provide ICT and other training support in the Skill Development Centers of BSCIC in different areas of the country as an initiative of Public-Private Partnership (PPP). The Skill Development Centers of BSCIC will be turned into role models for human resource development. http://news.daffodilvarsity.edu.bd/970-sciti-diu-joint-training-course-on-travel-tour-management.html
- Are You the Next Startup?DIU started an initiative to develop 500+ new entrepreneurs (including 30% women entrepreneurs among them) in the country within the next 5 years under a project entitled “Are You the Next Startup?” The most talented youngsters will be sought from all over the country and will be provided with a 100% scholarship as well as all sorts of logistic support and cooperation to enable them to become successful entrepreneurs.
“Are You the Next Startup?” is a national talent hunt initiative organized by the Department of Entrepreneurship, DIU, and introduced to find potential startups and entrepreneurs in Bangladesh. It will hunt, groom, design, organize, and manage new enterprises or business ideas till the ultimate success of each winner. Students who have come up with the first batch of approved projects are already being enrolled in the University on scholarships.
- DIU Social Business Design Lab
The 2nd competition of DIU Social Business Design Lab was held on March 30, 2017, at Daffodil International University (DIU). The lab was organized by Social Business Centre, DIU, in collaboration with Social Business Students’ Forum (SBSF).
Four new business plans by young entrepreneurs were presented in the Design lab. They were Md. Sabul Ahmed’s “Lilu Garments”, Toufiqur-E-Elahi Zaman’s Mom’s Kitchen, Newaz Akbar’s Social Mart and Amit Kumar Sarkar’s Sarkar Poultry Firm, respectively from Sylhet, Jhinaidah and Dhaka. All the business plans were presented and discussed in detail and referred in groups for further review. All projects were approved for funding and necessary support for further implementation.