An entrepreneurial environment is one that invests in and nurtures its human capital assets, as they are the source of entrepreneurs and the engines of entrepreneurial firms.
Entrepreneurial ecosystems aim to tie into higher educational institutions where many universities aim to specialise in industries that are the mainstay of human capital available. It is a cycle in which the larger corporations bring in the management and technical expertise who understand their particular industries. The institutions are then influenced and focus educational degree programmes and research around them.
Azione works with public agencies to attract and incentivise respectable local and foreign educators to import high-quality courses to make up for educational gaps in these niche areas. This is specifically aligned with education budgets on specific niche areas that each higher educational institution adopts.
We also help public agencies define value propositions and attract companies to set up satellite offices for joint R&D with universities, with the eventual goal of establishing significant headquarter-level operations. Azione then works with the universities to structure industrial immersion programmes of which companies set up campus offices which engages students on practical internship arrangements.
Ultimately, thriving entrepreneurial activity and a culture that supports entrepreneurship catalyse risk-taking and a higher tolerance of failure. Measures taken by universities assist in the creation of such a culture over time.
In this regard, Azione partners universities to develop technology entrepreneurship clusters. This is a long-term people development endeavour where Azione augments linkages between universities and the ecosystem through sustained engagements of entrepreneurs and investors as faculty and mentors.
Entrepreneurial, technology, and innovation associations will also be encouraged to establish chapters within universities for intellectual discourse and cross-pollination of expertise and experience. This helps cultivate new formal and informal entrepreneurial networks and encourages participants to grow as part of the entrepreneurial ecosystem.