Careers Bulletin – 13th November 2023

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Entrepreneurship
Entrepreneurship is the ability and readiness to develop, organize and run a business
enterprise, along with any of its uncertainties in order to make a profit. The most
prominent example of entrepreneurship is the starting of new businesses.
In economics, entrepreneurship connected with land, labour, natural resources and
capital can generate a profit. The entrepreneurial vision is defined by discovery and
risk-taking and is an indispensable part of a nation’s capacity to succeed in an ever-
changing and more competitive global marketplace.
Meaning of Entrepreneur
The entrepreneur is defined as someone who has the ability and desire to establish,
administer and succeed in a startup venture along with risk entitled to it, to make
profits. The best example of entrepreneurship is the starting of a new business ven-
ture. The entrepreneurs are often known as a source of new ideas or innovators, and
bring new ideas in the market by replacing old with a new invention.
It can be classified into small or home business to multinational companies. In eco-
nomics, the profits that an entrepreneur makes is with a combination of land, natural
resources, labour and capital.
In a nutshell, anyone who has the will and determination to start a new company and
deals with all the risks that go with it can become an Entrepreneur.
 What are the 4 Types of Entrepreneurship?
It is classified into the following types:
Small Business Entrepreneurship-
These businesses are a hairdresser, grocery store,
travel agent, consultant, carpenter, plumber, elec-
trician, etc. These people run or own their own
business and hire family members or local employ-
ees. For them, the profit would be able to feed their
family and not making 100 million business or tak-
ing over an industry. They fund their business by
taking small business loans or loans from friends
and family.
Scalable Start-up Entrepreneurship-
The start-up entrepreneur starts a business knowing that their vision can change the
world. They attract investors who think and encourage people who think out of the
box. The research focuses on a scalable business and experimental models, so, they
hire the best and the brightest employees. They require more venture capital to fuel
and back their project or business.
Large Company Entrepreneurship-
These huge companies have defined life-cycles. Most of these companies grow and
sustain by offering new and innovative products that revolve around their main prod-
ucts. The change in technology, customer preferences, new competition, etc., build
pressure for large companies to create an innovative product and sell it to the new set
of customers in the new market. To cope with the rapid technological changes, the
existing organisations either buy innovation enterprises or attempt to construct the
product internally.
Social Entrepreneurship-
This type of entrepreneurship focuses on producing product and services that resolve
social needs and problems. Their only motto and goal is to work for society and not
make any profits.
 Characteristics of Entrepreneurship:
Not all entrepreneurs are successful; there are definite characteristics that make entrepreneurship
successful. A few of them are mentioned below:
Ability to take a risk- Starting any new venture involves a considerable amount of failure risk.
Therefore, an entrepreneur needs to be courageous and able to evaluate and take risks, which is an
essential part of being an entrepreneur.
Innovation- It should be highly innovative to generate new ideas, start a company and earn profits
out of it. Change can be the launching of a product that is new to the market or a process that does
the same thing but in a more efficient and economical way.
Visionary and Leadership quality- To be successful, the entrepreneur should have a clear vision of
their new venture. However, to turn the idea into reality, a lot of resources and employees are re-
quired. Here, leadership quality is paramount because leaders impart and guide their employees to-
wards the right path of success.
Open-Minded- In a business, every circumstance can be an opportunity and used for the benefit of a
company. For example, Paytm recognised the gravity of demonetisation and acknowledged the
need for online transactions would be more, so it utilised the situation and expanded massively dur-
ing this time.
Flexible- An entrepreneur should be flexible and open to change according to the situation. To be on
the top, a businessperson should be equipped to embrace change in a product and service, as and
when needed.
Know your Product-A company owner should know the product offerings and also be aware of the
latest trend in the market. It is essential to know if the available product or service meets the de-
mands of the current market, or whether it is time to tweak it a little. Being able to be accountable
and then alter as needed is a vital part of entrepreneurship.
Importance of Entrepreneurship:
Creation of Employment- Entrepreneurship generates employment. It provides an entry-level job,
required for gaining experience and training for unskilled workers.
Innovation- It is the hub of innovation that provides new product ventures, market, technology and
quality of goods, etc., and increase the standard of living of people.
Impact on Society and Community Development- A society becomes greater if the employment
base is large and diversified. It brings about changes in society and promotes facilities like higher
expenditure on education, better sanitation, fewer slums, a higher level of homeownership. There-
fore, entrepreneurship assists the organisation towards a more stable and high quality of communi-
ty life.
Increase Standard of Living- Entrepreneurship helps to improve the standard of living of a person
by increasing their income. The standard of living means, increase in the consumption of various
goods and services by a household for a particular period.
Supports research and development- New products and services need to be researched and test-
ed before launching in the market. Therefore, an entrepreneur also dispenses finance for research
and development with research institutions and universities. This promotes research, general con-
struction, and development in the economy.
Can you think of any other Pros of being your own boss?
Would these cons put you off starting your own business?
The SDCEE are offering a paid programme, called the “Young Start-up Entrepreneur
Program”. It is a programme for promising student entrepreneurs to take a start-up
from ideation to execution. This bootcamp style course will run for three weeks on
site at the state-of-the-art Dubai Technology Entrepreneur Campus (Dtec) in Dubai
Silicon Oasis (DSO) and includes one year of business support from the Government.

The programme is created for students and aims to equip them with the skills and
mindset to launch a real business. The participants are trained with the essential
knowledge and innovative thinking required to gain real traction through an actual
product offering and sales, laying the foundation for a successful business.

Students will engage directly with renowned local entrepreneurs and top academics
from Erasmus centre throughout the course as they receive mentoring and go on
weekly ecosystem visits to successful start-ups. The course includes interactive
workshops covering diverse topics ranging from business model formulation and val-
ue proposition validation to start-up financials, sales and marketing. The
course employs an Experiential Learning method, encouraging the participants
to learn by doing and ends with a one-day business pitching event where the most
successful business ideas can secure seed investment to take their business into re-
ality.

As part of the ongoing learning process and drive to harness entrepreneurial talent,
the government of Dubai provides students with a business license including office
space at Dtec and everything required to start and operate a business.
The Dubai Entrepreneurship Academy was established to guide ambitious entrepre-
neurs as they embark on their ventures. The knowledge and tools they offer are de-
signed to maximize the chances new businesses have of succeeding.

Click on the links to check out some of the fantastic courses available
At just the age of 17, Eddy Zhong created
Leangap when he saw the need for a for-
mal entrepreneurship training program
directed towards high school students.
Leangap promises to help participants
develop their ideas from concept to launch, with real customers and users over one
summer. This unique high school entrepreneur program consists of three phases:

Phase 1 – Validation
During the first week, student entrepreneurs will pitch ideas, form teams, validate
business models, and create the first proof of concept of their products or services.

Phase 2 – Creation
Teams will then create a minimum viable product with the guidance of our mentors
and network.

Phase 3 – Traction
The ability to generate traction is what separates real startups from “projects”. With
the support of our mentors, students will get sales as soon as humanly possible.
 Located on the campus of MIT, LaunchX is one of
the most widely known and reputable programs
out there. It brings together top aspiring high
school entrepreneurs from around the world each
summer, and supports them through the process
of launching a startup. LaunchX gives promising
young entrepreneurs the chance to learn from in-
dustry experts. It also provideds the course mate-
rials and the support needed to build real prod-
ucts and solve business challenges in viable ways.
LaunchX helps its student start real companies following the four steps of the pro-
gram:
Explore – Identify, research, and test business opportunities
Test – Formalise the idea through market research
Iterate – Design and test your solution
Launch – Build business logistics and start selling
Free Entrepreneurship Courses
BlueSky Ventures: The Entrepreneurship Mind-
set
Learn to think like a successful entrepreneur in a
short game
What you'll learn
A FREE, on demand interactive Wharton course
An engaging business simulation combined with video lectures & personal feedback
Frameworks for analysing business strategy
Techniques that drive business success
Free EdX courses
Take free online courses in entrepreneurship from Harvard,
MIT, and other top business schools. Discover decision mak-
ing techniques, problem-solving solutions, and early stage
conclusions to run your own business. Learn how to become
a successful entrepreneur in digital marketing, traditional
marketing, or any other field today!
 In a world characterised by volatility, uncertainty, complexity,
and ambiguity, leaders require robust innovation skills. Think-
ing flexibly and developing an entrepreneurial mindset are
critical to thriving in uncertain business environments. This
specialisation addresses how to recognise and question as-
sumptions and constraints to identify and capitalise on oppor-
tunities
Learning to change the rules of the game by creating innova-
tive value propositions and discovering new market positions
for sustained competitive advantage are some of the actiona-
ble lessons in this specialisation.

Professor Nader Tavassoli of London Business School

contrasts traditional approaches to branding - where
brands are a visual identity and a promise to customers -
to brands as a customer experience delivered by the en-
tire organisation. The course offers a brand workout for
your own brands, as well as guest videos from leading
branding professionals.
The aim of the course is to change the conception of
brands as being an organisation's visual identity (e.g.,
logo) and image (customers' brand associations) to an
experience along "moments-that-matter" along the cus-
tomer journey and, therefore, delivered by people across the entire organisation. Brands are
thus not only an external promise to customers, but a means of executing business strategy
via internal brand-led behaviour and culture change.
This Innovation and Entrepreneurship course focuses on
the interconnection between entrepreneurial thinking and
innovation. Specifically, you’ll look at models used in Sili-
con Valley to grow both start-up companies as well as in-
novation inside large organisations.
Bringing together top Haas School of Business, UC Berke-
ley faculty, this course addresses critical areas for suc-
cessful growth, including design thinking, open innovation,
business models, product-market fit, and financing. This
course will teach you how to think like an entrepreneur and
provide you with the models, tools, and frameworks to fur-
ther develop your business or idea. An emphasis will be
placed on the IT space.
 Wharton's Entrepreneurship Specialisation covers the
conception, design, organisation, and management of
new enterprises. This five-course series is designed
to take you from opportunity identification through
launch, growth, financing and profitability. With guid-
ance from Wharton's top professors, along with in-
sights from current Wharton start-up founders and
financiers, you'll develop an entrepreneurial mindset
and hone the skills you need to develop a new enter-
prise with potential for growth and funding, or to iden-
tify and pursue opportunities for growth within an ex-
isting organisation.

The Entrepreneurship Specialisation examines the en-

trepreneurial mindset and skill sets, indicators of inno-
vation opportunities, critical steps to bring innovations
to the marketplace, and innovation strategies to estab-
lish and maintain a competitive advantage. Fundamen-
tals of new venture financing are explored with atten-
tion to capital structures for new ventures, term
sheets and how to negotiate them, and the differences
between early-stage versus later-stage financing. You
will develop an understanding of how to develop win-
ning investor pitches, who and when to pitch, how to
avoid common mistakes, and how to ‘get to the close’.
This specialisation is a guide to creating your own busi-
ness. We will cover a progression of topics necessary for
successful business creation including: mindset, ideation,
planning, action and strategy. Rather than just describing
what to do, the focus will be on guiding you through the
process of actually doing it. The Capstone course will
bring all of the tools and lessons discussed together for
you to launch your business. It may not be the business of
your dreams, but it will be a functional business giving you
the execution capability to start something you are pas-
sionate about.
 7 Tech Skills Every Aspiring Entrepreneur Needs

Being an entrepreneur in today’s fast-paced world is complicated. With so many tac-

tics, tools and techniques to consider when setting up for success – one thing that
shouldn’t be overlooked is your skillset – and in this instance, we don’t mean your
‘essential’ or ‘soft’ skillset. We’re talking technical.
Let’s dive straight in and take a look at some of the most valuable technical skills
you’re going to need as an aspiring entrepreneur.
3D printing
The world is no stranger to modern technology and digital innovations. From
healthcare to education and many things in between, 3D printing has completely revo-
lutionized the way we construct and produce materials and products.
If you’re a budding product-based entrepreneur, this novel technology is ideal for
smaller production jobs and helps make building prototypes more affordable. Its ad-
vanced customisation has pushed the boundaries of industrial manufacturing and
there’s also no need for a ‘physical’ inventory either as any ‘spare parts’ are stored in
The Cloud.
The College of Arts and Cultural Enterprises at Zayed University in the United Arab
Emirates has it’s very own ‘Fab Lab’, a fabrication/prototyping lab which is part of a
larger development of creative lab space involving technologies ranging from 3D print-
ing to a robotic arm for rapid prototyping.
The college itself is not a traditional art school, in the sense that it focuses on creative
enterprises and industry in relation to consumer culture in the 21st century, such as
product design with jewellery and furniture.
With an aim to enhance the education process and give students the tools they need
to be a product entrepreneur, this type of experential learning yields benefits that stu-
dents may not necessarily get in a traditional classroom setting as they’re encouraged
to take an idea of their own and make a prototype which they consider to have com-
mercial potential.
Wireframe
As a budding entrepreneur you may only be a one-man-band at the moment without a
development/tech team to help get you on your way. But don’t let that put you off.
When done right, wireframing essentially ‘tells’ your website visitors how they should
be using and navigating the site.
The Cloud
It may sound as if it’s something that still belongs in a sci-fi universe, but you’ll want to make sure you
have a good working knowledge of the Cloud and how it works. It’s inevitable that all data will eventually
being stored on the Cloud anyway – ensuring tighter security measures and better collaboration with
your team.
Big data and data analytics
This is much more than just a buzzword (or two). There’s no getting away from big data and it’s im-
portant that you know how to use it to your advantage.
It will help you make more informed business decisions as you get a better insight into your customers/
consumers needs, habits and preferences. You’ll then have the upper hand when it comes to creating
original, personal and impactful campaigns and content which has the potential to lead to the convert-
ing of traffic into sales.
Remember – knowledge = power.
Social media
You’re going to need to use popular social media platforms to build your online presence and business
brand. It doesn’t matter whether you’re a product-based entrepreneur or a service-based entrepreneur,
social media should be an integral part of your business marketing strategy.
It’s a remarkably effective communication platform which offers a lot of power and potential. It does,
however, like to change quickly so it’s important that you keep up with the times to ensure your time
and effort hasn’t gone to waste.
UX design
You’re going to want a powerful user experience design strategy at the heart of your website if you want
to drive traffic, sales and ultimately – success.
Search engine optimization (SEO)
While some entrepreneurs and businesses may not take this seriously – you definitely should. The dif-
ference between implementing SEO and implementing it well is huge. Good SEO ensures your website is
displayed on the first page of any search engine result, which in turn drives increased traffic to your
site.
If you want your start-up venture to be a success, you’re going to want to have a good grasp of these
seven tech skills – or at least be aware of them, the benefits they can bring and how they can be used
together to help your venture as much as possible.

Check out Zayed University’s Fab Lab here!

 Entrepreneurship Podcasts
How I Built This with Guy Raz.
These are real entrepreneurs building incredible companies. They share how
they built it in story format. NPR’s Guy Raz has really built a winner with his
podcast about the stories behind some of the world’s best ideas. Guy Raz is
an engaging host, unafraid to ask hard questions to really get to the bottom
of what makes entrepreneurs tick. Every episode of the show is bound to
leave you feeling more inspired to get your ideas off the ground. Check out
the episodes on Canva, Strava, Kodiak Cakes and Tim Ferris
Startup Stories - Mixergy.
Andrew Warner has his own fascinating grit-driven story about starting his
podcast and education business. Although he has a few big names, the ma-
jority of interviews are from lesser-known companies. I like this because
their stories are new and fresh and haven't been bounced around the inter-
net 1,000 times. The Mixergy community is like having access to a college
curriculum on entrepreneurship, taught by the best in the business.
StartUp.
This podcast is pretty unique in its format. Created by Gimlet Media, it is al-
so about Gimlet Media and was created in real-time as the founders started
their company and learned what it takes to be entrepreneurs. The documen-
tary style will hold your attention, and the look into the beginnings of what
went on to be a hugely prosperous venture will remind you why you’re in busi-
ness yourself. More recent seasons have focused on other companies, and
every story is compelling.
Masters of Scale.
Looking for big names? This is your show, with Richard Branson (Virgin), Su-
san Wojcicki (YouTube), Phil Knight (Nike), Bill and Melinda Gates (Gates
Foundation/Microsoft), Brian Chesky (Airbnb) and every other business icon
you can think of. This show is less for the brand new entrepreneur and more
for the start-up that has a few years underneath the belt.
This Week in Start-ups.
This web series by Jason Calacanis focuses on the tech industry. Jason
brings on experts from a variety of backgrounds. The show uses humor to dig
into some pretty interesting stories. The show is a fun way to stay on top of
startup news, find inspiration in others’ success and get actionable tips on
how to keep your own startup thriving.
Smart Passive Income.
This is one of the longest-running podcasts out there. This one is for all of the
internet gurus (and hopeful gurus) out there. Pat Flynn masterfully interviews
marketing pros, YouTubers, e-commerce stars and entrepreneurs to hone in
on strategies that work, telling plenty of compelling stories along the way.
 Tips To Help You Become A Young Entrepreneur
Being your own boss is the ultimate career goal for many graduates. However, there are inevitably going
to be a few obstacles that will get in the way – the most obvious being a lack of funds and experience.
But don’t let that put you off! Small Business Trends found that 82 percent of successful business own-
ers felt they had the right qualifications and proper experience to run their company.
While a quick internet search of ‘how to become an entrepreneur?’ will return thousands of results, it
can be a challenge filtering out the most important information and advice. To help make things a little
easier, here are eight valuable tips that can help you go from graduate to entrepreneur.
Identify a gap in the market
This might be stating the obvious, but it’s perhaps one of the most valuable pieces of advice that’s often
overlooked – especially considering the number one reason why startups fail is due to misreading mar-
ket demand.
Identifying a gap that needs filled is not about doing something new, but doing something different. And
while it’s important your idea should be a profitable one, it should also align with your own interests.
It might feel like you’re stuck in the mud when it comes to reinventing the wheel, but perseverance and
some brainstorming should bring you the light bulb moment. Using what you already know from your
own experiences can also help you come up with an original idea.

Know your audience

Quick hint here – your audience will never be ‘everyone’. There will always be a demographic that your
product or service is better suited for, so identifying who that might be is key.
Market research will help you identify the wants, needs, behaviors and attitudes of your target audience
and how your product or service will serve them best.
Never underestimate the power of a solid business plan
Having a clear vision and focus while staying objective is paramount if you want to be taken seriously
and have any chance of your startup getting off the ground (and staying off the ground).
Road-test your idea
This is where the fun starts! Road testing your idea can really help you get to know your business idea
and what changes are needed before going public.
Embrace feedback and learn from your mistakes
First of all, nobody is a born entrepreneur. We all learn by making mistakes and it’s being able to accept
constructive criticism and feedback that’s key for helping your business to move forward and stay com-
petitive.
Build a strong network
From your peers to your professors, it’s important to recognize the value and experience they can offer
for you and your start-up.
Make the most of networking opportunities in your degree from networking events to industry talks, in-
ternships and even coffee morning catch ups. It doesn’t always have to be in a professional setting, just
getting to know your peers on a casual level can transform into a professional working relationship.
Surrounding yourself with a team that’s just as professional, hard-working, committed and driven as
you is a winning combination.
Have your finances in good order
You might not have all the money (at the moment), but that doesn’t mean you can’t be smart with the
funds that you do have when starting up your business.
It’s important to have a sound knowledge of managing all financial aspects of the business and prepare
for every possibility to help keep your business alive.
Entrepreneurship Competitions
The Conrad Challenge is an annual, virtual, innovation,
and entrepreneurial competition that encourages par-
ticipants to address some of the most pressing global
challenges. Participants work together to identify chal-
lenges and develop solutions to some of the world’s
most complex problems in any of the following catego-
ries: Aerospace & Aviation, Cyber-Technology & Secu-
rity, Energy & Environment, Health & Nutrition, the
Foundation for a Smoke-Free World with 2 unique cat-
egories, and Oceans: The Plastic Problem. Teams may
submit in multiple categories, if desired.
Every Autumn, the Network for Teaching Entrepreneur-
ship (NFTE) launches a new set of challenges in the
NFTE World Series of Innovation (WSI). NFTE’s World
Series of Innovation is a global, online competition that
invites young people to submit innovative ideas that ad-
dress some of the biggest challenges facing humanity
today and help advance the UN Sustainable Develop-
ment Goals (SDGs).
Your Future Starts Here
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