Promoting Entrepreneurship as a
Career Choice for B40 Communities
PRUKasih Entrepreneurship Programme, a private-public partnership, equips low-income households with entrepreneurship skills to build a financially resilient future
KUALA LUMPUR, 15 April 2021 – To help elevate Malaysia to developed nation status, the Malaysian government has, through its National Entrepreneurship Policy 2030 (NEP), set out a comprehensive strategic direction to develop the country’s entrepreneurship ecosystem. Fostering an entrepreneurship culture across all segments of Malaysian society has been identified as a strategic thrust under the NEP, which aims to promote entrepreneurship as a career of choice among youth, women and the B40[1].
Prudential Assurance Malaysia Berhad (PAMB), Taylor’s Education Group, Yayasan Generasi Gemilang (YGG) and the National Entrepreneurship Institute (INSKEN) have partnered to pilot the PRUKasih Entrepreneurship Programme to equip urban low-income groups with entrepreneurship skills and knowledge.
Established in 2011 in partnership between PAMB and YGG, PRUKasih is a sponsored financial protection plan to support the Government’s efforts to improve the lives of urban low-income households in Malaysia. In recent years, the programme was expanded to provide financial education knowledge to PRUKasih communities and in 2020, members were given the opportunity to embark on an entrepreneurial journey.
“The PRUKasih Entrepreneurship Programme marks an important milestone for Prudential as we celebrate the 10th anniversary of our PRUKasih journey. Our Community Investment programmes underscores our commitment to provide focused and practical support to local communities in need which was why we felt that this was a natural step to help them achieve a sustainable financial future.
We are fortunate to collaborate with Taylor’s Education Group who share a similar vision with us. Together with our strategic partner Yayasan Generasi Gemilang, we were able to pitch this programme to INSKEN who has been very supportive,” said Gan Leong Hin, the Chief Executive Officer of PAMB.
A total of 70 applications were received, among which 32 participants were selected to be in the first cohort. The programme started off with the participants attending business and mental health knowledge learning sessions through virtual classrooms. They were then invited to a pitch session after which equipment grants were awarded to eligible participants by PAMB to help them kick start their business.
After seven months of virtual training and practical sessions, 18 PRUKasih Entrepreneurship participants were presented at a virtual graduation ceremony to celebrate their achievements. The virtual ceremony was attended by Muhd Firdaus Azharuddin, CEO of INSKEN, Gan Leong Hin, CEO of PAMB and May Wong, Head of Corporate Social Responsibility from Taylor’s. The graduates will continue their journey with INSKEN to further develop their entrepreneurial and business growth strategy.
“With INSKEN’s goals to develop highly knowledgeable, resilient and capable entrepreneurs capable of competing in the global arena, we are proud to have successfully worked together with various stakeholders to provide holistic training modules that will equip the graduates with relevant, practical knowledge. This collaboration between INSKEN, Prudential, Taylor’s Education Group and Yayasan Generasi Gemilang is an important one, as it is only through these partnerships between the public and private sector stakeholders that Malaysia’s national agenda can be further strengthened and amplified”, said Muhd Firdaus Azharuddin, CEO of INSKEN.
Mr Firdaus added that the participants should not see their graduation as the finish line, but rather the beginning of their learning process with INSKEN and their learning partners to ensure their business’ success.
Following the successful graduation of the first cohort, the second cohort of 70 participants has already begun their programme in March.
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[1] https://www.medaac.gov.my/admin/files/med/image/portal/NEP2030-Final.pdf