KUALA LUMPUR, 6 February 2017 (Monday) – Bank Rakyat School of Business and Entrepreneurship (BRSBE), Universiti Tun Abdul Razak (UNIRAZAK) organised the Global Entrepreneurship Monitor (GEM) 2016/2017 Report Launch. The launching ceremony was held at Impiana KLCC Hotel, Kuala Lumpur.
The Global Entrepreneurship Monitor is the world’s foremost study of entrepreneurship. GEM is a trusted resource on entrepreneurship for key international organisations like the United Nations, World Bank and the Economic Forum, providing custom datasets, special reports and expert’s opinions. GEM began in 1999 as a joint project between Babson College (USA) and London Business School (UK). The aim was to consider why some countries are more ‘entrepreneurial’ than others. After 17 years, GEM has the richest resources of information on subject, publishing a range of global, national and ‘special topic’ reports on an annual basis.
The main purpose for GEM’s research study is to provide a holistic understanding of the entrepreneurship phenomena and the underlying ecosystems across countries. The key values are a shared view of the importance of entrepreneurship for enhancing social welfare, the pursuit of scientific discovery and reliable data, and a commitment to cross-cultural collaborations and global reach.
The 2016 Global Entrepreneurship Monitor (GEM) survey had tracked rates of entrepreneurship across multiple phases of entrepreneurial activity; assessed the characteristics, motivations and ambitions of entrepreneurs; and explored the attitudes societies have towards this activity. The 2016 GEM surveyed a total of 65 world economics. The survey covered 69.2% of the world’s population and 84.9% of the world’s Gross Domestic Product (GDP). The research is conducted using the National Entrepreneurship Survey (NES) and the Adult Populations Survey (APS) which allows for a comparison of the results between opinions of the experts and the behaviour of a population.
According to YB Datuk Mary Yap Kain Ching, Deputy Minister of High Education of Malaysia in her opening speech, many entrepreneurs have played an important role in transforming the Malaysian economy by choosing to set up their business in Malaysia. She also reminds us not to forget that local enterprises here in Malaysia are one of the main benefactors of the Malaysian economy. “Although SME are small, they are able to discern and carve out niche opportunities for themselves. They also have developed deep capabilities in order to serve the growing needs in their chosen markets and of their multi-national partners”, said Datuk Mary Yap. Malaysia has also been ranked as one of the four countries in the world with equal or higher female participation in entrepreneurship activities, according to the GEM 2016/2017 report.
To thank the participants for attending this year’s GEM, Gala Dinner was held on the night of 7th February 2017 at Impiana KLCC Hotel, Kuala Lumpur. Ignacio de la Vega, Chairman of Global Entrepreneurship Research Association, expressed his excitement and gratitude in his speech to all that attended the event. The Gala Dinner was also graced by the presence of YBhg. Prof. Datuk Seri Dr. Md. Zabid Abdul Rashid, President & Vice-Chancellor, Universiti Tun Abdul Razak (UNIRAZAK), Prof Mike Herrington, Executive Director, Global Entrepreneurship Research Association (GERA), Embassy representatives, and all relevant stakeholders.