Laksamana College of Business (LCB) recently launched a business incubation centre, which aimed to promote entrepreneurship to its students.
Dubbed the “Incuvation”, it was designed to look like a London tube and is to be used as a networking site for students to consult mentors for guidance, work on their business ideas and pitch them to investors.
Lecturers and staff from LCB are also on hand to assist them wherever needed.
Chief Operating Officer and Deputy Principal Sivarajah Subramaniam said the centre was built following a trend that sees LCB students becoming more active in business-related activities and contests.
Despite having business modules taught in their courses, he said some students have also took the extra steps to band together and create their own businesses.
Notable ones include the developers of “Get Up”, a gamified mobile application for tourists which shared the same mechanism as Niantic’s “Pokemon Go”; and students who partnered with BMW Brunei to develop an online used car website.
Subramaniam said LCB understood such trends and believed the college should play a part in facilitating these students.
“More so when entrepreneurship is becoming more important to curb unemployment, which has continued to become an issue in Brunei,” he said.
“At the same time, we would also like to encourage them to start new industries – which can be fostered via entrepreneurship,” he added.
LCB Director Hj Awang Suhaimei Hj Awang Besar added that the establishment of the centre could help in strengthen the link between students and local industries.
The college regularly consults industry players to structure their courses, he said, now has wider markets they can penetrate into, with students now on hand to help Brunei develop new industries.
To further help promote their businesses, Hj Awang Suhaimei said LCB is also willing to connect students to regional investors via its membership with the Brunei-Britain Business Column.
The college is also ready to bring in students to strike deals with its business partners, among them the Kensington College of Business in London, Abdul Razak Holdings and Royal Brunei Catering (RBC).
“What we want now is to become their backbone and support them,” he said.
Launching the centre at LCB was the British High Commissioner to Brunei Richard Lindsay. The new space was built through a partnership with QAF Auto (Mini).
The Bruneian | BANDAR SERI BEGAWAN