The Role of VET in the Entrepreneurial Ecosystem
Author: Scott-Kemmis, Don
Date: 2017-00-00
Type: Reports - Research
Subjects: Vocational Education,Entrepreneurship,Foreign Countries,Literature Reviews,Case Studies,Skill Development,Role,School Personnel,Alumni,Agency Cooperation,Training,Business,Capacity Building,Postsecondary Education,Higher Education

In the context of ongoing globalisation and faster technological change, economies are becoming more entrepreneurial and more knowledge-intensive. Entrepreneurial economies and societies require institutions, organisations, regulations and relationships different from those of the industrial societies of the late twentieth century. Consequently, the skills associated with entrepreneurialism are becoming more important for the development of the economy and society, which means that the acquisition of these skills is also becoming a more important objective for education and training. This report explores the concept of entrepreneurialism in the twenty-first century, noting particularly the challenges implicit in the implementation of entrepreneurial practices, including teaching and learning for entrepreneurship, specifically for the vocational education and training (VET) system. One of the objectives of this project was to gain an international overview of the current state of entrepreneurship and education for entrepreneurship, to provide a backdrop with the potential to inform and assess Australian developments and policy in this area. This research project uses two components to explore the entrepreneurial ecosystem: a review of the current research and an Australian case study--of the Australian Capital Territory. An &quot;entrepreneurial ecosystem&quot; is defined as the formal and informal institutions and relationships that facilitate access to such entrepreneurship-relevant resources as information, finance, reputation and specific knowledge, including education. The research is guided by the following research questions: (1) What is the significance, and what are the components, of entrepreneurial ecosystems?; (2) To what extent are Organisation for Economic Co-operation and Development (OECD) countries introducing elements of entrepreneurship skill development into VET programs and developing initiatives to link to the wider development of entrepreneurial activity?; (3) To what extent do, or could, VET organisations, staff, programs and graduates play significant roles in entrepreneurial ecosystems?; and (4) To what extent does the VET system in the ACT contribute to the development of skills used by entrepreneurs in the early stages of forming new entrepreneurial ventures? The literature review and the associated analysis highlight the rising levels of entrepreneurship (and enterprise) internationally and note that education and training systems must play a more effective role in addressing this important development. The literature reveals the growing importance of entrepreneurship and identifies the reasons for this growth, which generally are economic, technological and social. The review examines the literature on the initiatives being introduced by comparable countries to develop entrepreneurial and enterprise skills. Recognising the increasing importance of entrepreneurship (and enterprise) in knowledge-based economies, the last two decades have seen an increased emphasis on the development of entrepreneurial skills, with elements of entrepreneurship incorporated into all levels of education. The review finds that numerous studies and reports aim to identify key entrepreneurship skills and attitudes and to understand how they are acquired. Several countries have introduced significant new initiatives in their various VET systems, although across the OECD the current situation is uneven, with these initiatives taking place in a context of ongoing experiment and assessment. This overview of initiatives relating to entrepreneurship education offers a useful insight for Australia, despite significant differences in the structure of the VET system across countries. The review reveals that there is a general consensus that strengthening &quot;enterprise skills&quot;--problem-solving, self-reliance, initiative, risk taking, flexibility, creativity--is essential and is strongly supported by business. Many see &quot;entrepreneurship&quot; skills--those required for forming a new enterprise--as a necessary part of the initiatives. That leads onto such questions as how these skills are developed. A diverse range of approaches have been introduced in VET in different countries: student enterprises as part of the course, simulations, mentoring, business plan competitions etc. One issue that has emerged as central is the importance of real-world contexts for learning entrepreneurial skills, and the role of business and industry in supporting these approaches.