Entrepreneurship and Innovation: Necessary conditions

When the famous 14th century architect Sinan built the Blue Mosque in Turkey, did he have a business plan? This was the question asked by Omer Oz who was the first manager of technology incubation center in Turkey in the early 1990s.  The key message is that for an entrepreneur to succeed, he/she must have a good idea and a sound business model along with a business plan.  Besides, an entrepreneur should pass through an incubation and mentorship programs to fully understand the journey of moving an idea to a product. However, success has multiple paths, non-linear and takes a long time. For example, it took about 60 years to assemble the pedal to the bicycle. Failure is a typical stage in the journey of success. 

The Turkish model of technology incubation was founded on the concept of technology transfer between university and industry in the field of electronics and defense. The Middle East Technical University was a model for an entrepreneurial university. The university president’s well-known statement was “we want our graduates to be employers, not employees”. The journey from pre-incubation to incubation and acceleration is driven by a sense of mission. Pragmatism and good governance were necessary conditions for success which meant that private sector is a partner in the co-creation of science or technology parks.  

The key question is can we teach entrepreneurship? According to UNIDO figures, in a world of 7 billion, only 400,000 are entrepreneurs and there is about 60% of the global population who are less than 30 years old. In few years, millions of youth will be seeking jobs in a competitive market. It is not conceivable that governments can provide jobs for a growing youth population. Therefore, the coupling of entrepreneurship and innovation is viewed as an imperative to empower a young generation to start their own business. Reflecting from history, “Show me the market”, was the request of Abdul-Rahman bin Awf, one of the entrepreneurs in Madina before 1400 years ago. He simply wanted a space to explore and generate good ideas that sell. 

Entrepreneurship is a creative act and the ability to build something out of nothing. Research had shown that the reason that many entrepreneurs fail is due to lack of a good idea, not lack of resources, funding, and business and marketing skills. How can we create an entrepreneurial culture? The Bahrain model of entrepreneurship is rooted in local culture and linked to global networks. This model enabled several entrepreneurs to start a business in IT, logistics, energy, sport, and health. It is impressive to witness leaders of many promising entrepreneurs who are building pieces of the ecosystem of entrepreneurship and innovation. Promising examples of incubation systems in Bahrain include MAZ Business Incubation, University of Bahrain Incubator, Flat6 accelerator, and fashion incubation center.  The common factors for the success of these initiatives include leadership, networking and celebrating success. (The author is Head of Innovation and Technology Management, Arabian Gulf University, Bahrain. E-mail: odehaj@agu.edu)