INSKEN Seeks More Collaborations To Enhance Entrepreneurship Ecosystem

BANGI, Aug 22 (Bernama) -- The National Institute of Entrepreneurship (INSKEN) welcomes agencies and organisations to collaborate with the institute to help strengthen the country’s entrepreneurship ecosystem.

INSKEN Board of Trustees chairman, Mustaffa Kamil Ayub said that INSKEN's mentorship programmes have so far successfully helped entrepreneurs increase sales by RM7.5 million and create 110 new jobs.

“The sales growth was achieved through two programmes. namely the INSKEN Bumiputera Business Coaching (IBBC) and the Menu Profit Coaching Programme.

“Sixty-three percent of participants from the IBBC and Menu Profit Coaching programmes recorded a minimum 25 percent sales increase, and 110 new jobs were created through the IBBC programme,” he said in his speech at the graduation ceremony of 233 INSKEN mentorship programme entrepreneurs for 2024 here today.

Mustaffa Kamil added that an impressive 6.9 times return on investment was generated from the IBBC and Menu Profit Coaching programmes.

“This means that for every RM1 spent on implementing these two programmes, it returns RM6.90 to the national economy. A total of 18 entrepreneurs managed to increase their sales to the point where their business status shifted from micro to small.

“The average sales after the programmes ended were RM397,000. This is a very encouraging achievement and an important step in your journey as entrepreneurs,” he said.

Mustaffa Kamil explained that INSKEN always emphasises the concept of “entrepreneurs helping entrepreneurs.”

“This means that INSKEN’s role in these mentorship programmes is supported by ‘Industry Coaches’ who are key players or mentors in their respective industries,” he said.

INSKEN is an agency under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP), offering entrepreneurship capacity-building initiatives through training and mentorship programmes.

-- BERNAMA