Importance of Entrepreneurship Education in Bangladesh

Shagatom Chakma

Photo: Yourstory

Every year Bangladeshi university produces millions of graduates and they run for getting suitable employment opportunities. In developing countries, employment opportunities are a major crisis. Also, graduates fail to create market demand with their traditional degrees. There is no similarity between university education and job market education. For this reason, fresh graduates start reading MP3 series for getting suitable employment opportunities. Do universities fail to create market demand and job opportunities for graduates by their degree? The left-out graduate becomes hopeless and frustrated due to a lack of opportunities in getting suitable employment. To make these frustrated graduates, from job seekers to job creators “Entrepreneurship” is the best way. Entrepreneurship plays a very crucial role in socio-economic development in a developed or developing country like Bangladesh.


Entrepreneurship is the process of designing, launching, and setting up a business, taking on financial risks in the hope of profit. According to UNESCO (2006), Entrepreneurship Education describes as “a collection of formalized teachings that informs, trains, and educates anyone interested in participating in socio-economic development through a project to promote entrepreneurship awareness, business creation, or small business development”. Many public and private universities have already paid attention to Entrepreneurship education and they have introduced the course to their student about Entrepreneurship. But the rate of unemployment, poor level of industrialization introduce us to Bangladesh could not make significant development in Entrepreneurial Education. Indeed, not everybody who has received an entrepreneurship education will not be an entrepreneur. But promoting and understanding entrepreneurship education can assist to know the concept that entrepreneurs are made, not born. Strategic thinking, resilience, efficiency, communication, time management, networking, branding are some of the skills need for an entrepreneur. In Bangladesh, most of the entrepreneur has no institutional education about entrepreneurship, but they acquired entrepreneurship skills from their entrepreneurial failures. For this reason, entrepreneurs have no innovation from the startup of their business. As a result, they are always gaining experience. So, for an entrepreneur, knowing about entrepreneurship education is very important. For creating Innovation Driven Enterprise Entrepreneur, the importance of learning entrepreneurial education is essential.


The Government of Bangladesh also pays attention to entrepreneurship education. SME Foundation, BIDA-ESDP Project, Youth & Sports Ministry are now playing a crucial role in developing entrepreneurship education in Bangladesh. It is very great joy that they are promoting the entrepreneurial mind. It will help entrepreneurs to recognize opportunities, pursue the opportunities by generating new ideas, and the ability to think creatively and critical manner. Without entrepreneurship education, the entrepreneur will not able to generate them from SME Entrepreneur to IDE Entrepreneur. For sustainable entrepreneurship development, entrepreneurs need to be innovation-driven entrepreneurs. Innovation = Invention*Commercialization. Bill Aulet modify Roberts’s definition of innovation that “innovation is not a sum of invention and commercialization, but a product. If there is no invention but commercialization or no commercialization, then there is no innovation”. Also, Bill Aulet has mentioned about six themes of the 24 steps of the entrepreneurship journey in his book “Disciplined Entrepreneurship”. So, entrepreneurship education is more important than acquired through entrepreneurship failures.

Entrepreneurship education will be crucial for achieving sustainable economic development. It will help in growing industrialization and reducing the rate of unemployment. Achieving SDG 2030, LDC Graduation 2024, and Vision-2041 entrepreneurship education or entrepreneurship will be the main force. It is high time for Bangladesh to develop entrepreneurship education institutionally.

References:

1. Aulet, Bill — Disciplined Entrepreneurship: 24 Steps to a Successful Startup.

2. Azim, M Tahlil., Akhbar, Muhammad Muzahid., Entrepreneurship education in Bangladesh:A study based on program inputs.

3. Hasan, Sk Mahamudul., Khan, Ahmed Eijaz., Nabi, Md. Noor Un., (2017). Entrepreneurial education at university level and entrepreneurship development.

UNESCO/ILO (2006). Towards an entrepreneurial culture for the twenty first century.

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