POSITIVE indications for the University of Guyana (UG) to establish a school of Entrepreneurship and Business Innovation have been received from stakeholders, as a U.S.$15,000 feasibility study into this venture is ongoing. This was according to Chairman of the feasibility study team, Dr. Edward Davis, during a media briefing on Friday at Duke Lodge, Kingston. Dr. Davis, who heads the team of experts, said that they have been able to engage stakeholders both in the private and public sectors on the need for such a school, which he said will not only benefit Guyana, but the region as a whole.
And based on preliminary findings, the Chair said that “based on what we’ve seen so far, not only is it feasible, but that we should have started it yesterday.”
Asked when the report is likely to be completed, Dr. Davis said February 2017, after which it will be handed over to the university’s Vice-Chancellor (VC) Professor Ivelaw Griffith. According to a preliminary statement by the team, a School of Entrepreneurship and Business Innovation (SEBI) will provide students with a unique opportunity to network and develop relationships that enhance their prospects for success.
The school, if established, will seek to emphasise the ability to think entrepreneurially; the development of strong, critical thinking skills; leadership; ethics and values; social responsibility; and decision-making that looks at “the numbers,” but also looks beyond “the numbers.”
In terms of accreditation, the VC said that one of 10 things which he requested of the team was to advise the institution on how it would be able to receive international accreditation.
“I’ve asked the team to do 10 things and one of those things is to tell us what we need to do to get international accreditation. Not all the programmes at UG has accreditation. So part of what I’m asking the team to do is to help us build a school that will be accredited internationally,” he said.
However, while this accreditation will be critical to the school’s existence, Professor Griffith said that it could take between three to five years for this to be achieved. And apart from accreditation, he said that the team is examining things in a wider scope of being able to provide students with the opportunity to network internationally through clubs and exchange programmes.
He noted too that in the context of Guyana, funds must be raised for the institution to attract the quality of lecturers found in universities in more developed countries. The VC also stated that while the venture will cost UG about U.S.$15,000 (or GYD$3M), it is a necessary investment.
“If you want to [have a] meaningful return in investment, you have to first invest,” he said.
And with the team heavily packed with U.S.-based experts, the VC was asked if there could have been greater involvement of regional experts, given the possibility of varying business dynamics in the region and the U.S.
However, he pointed out that the team comprises individuals who are connected to the region and beyond. He referenced Dr. Davis, a Dean of the Business School at Clark Atlanta University, who served as an external examiner for decades at the University of the West Indies (UWI) Jamaica and Trinidad branches.
Another individual, Dr. David Lewis, who is a member of the team spent years at UWI also and has experience in Africa. Dr. Lewis currently serves at the Vice-President of Manchester Trade International Business Advisors.
The VC said that what could be achieved is needed connectivity, whereby sponsorships for exchange programmes or scholarships could be provided for by individuals and organisations who play some role in the establishment of the school.
“It is not only about where these individuals are from, but where they are connected to,” Professor Griffith said.