KUALA LUMPUR, Malaysia - Universities should encourage students to get involved in entrepreneurial development programmes such as the Global Entrepreneurship Week 2009, which starts on Nov 16.

Higher Education Deputy Minister Datuk Saifuddin Abdullah said this would increase the number of fresh graduates venturing into business. Only 2.4 per cent of them venture into business.

He said between 10 and 15 per cent of fresh graduates at established universities of the world entered business.

GEW was founded by USA-based Ewing Marion Kauffman Foundation and British-based Make Your Mark. Warisan Global Sdn Bhd is the event host in Malaysia.

Speaking to reporters after launching the countdown to GEW 2009 here yesterday Saifuddin said: "The various public and private higher learning institutes should take advantage of this event as it is a platform for unleashing ideas.

"Entrepreneurial skills are not only meant for use in business but can be a soft skill to develop creative thinking among graduates."

Saying youths were rich with entrepreuneurial potential, Saifuddin added: "They should be allowed to search for opportunities and seize the moment in making a difference in their lives and the lives of others, through entrepreneurial ventures."

On a related matter, Saifuddin said the ministry was talking with local business schools to encourage them to become premier institutes of learning.

"The lecturers should either have corporate experience or be actual businessmen teaching on a part-time basis.

"Business lecturers should be allowed to sit on the board of companies or hold stakes in businesses so that they can share their experience with students."

Saifuddin also called on banks to be more flexible in providing start-up financing to young entrepreneurs.

Warisan Global chief executive officer B. Dhakshinamoorthy said: "GEW 2009 aspires to cultivate a new breed of entrepreneurs in line with the national agenda of 1Malaysia in distributing the fruits of progress and prosperity to all Malaysians."