15 May 2016

Fourth 1Malaysia Entrepreneur bootcamps kick off

Source: 1MET. Over 500 participants attended the 1MET bootcamps in Kota Kinabalu.
Source: 1MET. Over 500 participants attended the 1MET bootcamps in Kota Kinabalu.

1Malaysia Entrepreneur (1MET) has launched the fourth edition of its two-day entrepreneurial bootcamps with an experiential approach. The bootcamps, an initiative by the National Entrepreneurship Development Office (NEDO) of the Malaysian Ministry of Finance, are followed by a six-month mentoring and coaching programme for 500 selected ideas, with the followup programme kicking off on its first batch in August 2016. 

The bootcamps which kicked off in March this year are now touring nationwide until November 2016, offering Malaysians a total of 25 bootcamps, to impact more than 5,000 Malaysians. “With enough experience in hand and lessons learnt from the previous 1MET Bootcamps, 1MET 4.0 Bootcamps aim to gain a higher percentage of attendance in this edition which indirectly aids to identify developing and cultivating entrepreneurs who will contribute towards building Malaysia as a high income nation,” said YBhg Tan Sri Dr Mohd Irwan Serigar bin Abdullah, Secretary General of Treasury, Ministry of Finance Malaysia. 

  Source: 1MET. From left: Zahrain, Aminuddin, and Tan Sri Irwan.
Source: 1MET. From left: Zahrain, Aminuddin, and Tan Sri Irwan at a panel. 

1MET 4.0 provides a platform for its participants to acquire business tools as well as to get access to lifelong learning, coaches and mentors that will help launch their ideas into sustainable, high scalable businesses, requiring low capital for starting up, and can be rapidly executed. 1MET 4.0 also introduces participants to various support available within the ecosystem, and prepares its participants with necessary pitching skills.

The intensive, hands-on bootcamps encourage participants to think innovatively and look at everyday problems with an opportunistic perspective. The entrepreneurs are divided into groups which ideate potential business ventures based on problem-solving and applied design thinking tools that have been adapted from Silicon Valley. Participants will also chart and design their business plans using the Lean Canvas, a way of coming up with a business plan. Each group is paired with mentors who are experienced entrepreneurs and experts in various businesses sectors to help in identifying problems, churning solutions and developing unique business models.

1MET Bootcamps were first created to benefit the Malaysian aspiring entrepreneurs and existing entrepreneurs, targeting those eyeing for opportunities to improve their businesses, searching for the ideal marketing direction and platforms to exchange business ideas and even for those in need of business funding. This year, we aim to ensure sustainability while providing a higher impact and more value added hybrid programs which involve hands on activities using both online and interactive coaching methods. We believe that practical works better than theoretical and we want participants to actually gain (results) after joining the 1MET 4.0 Bootcamps,” added Irwan.

Tan Sri Irwan also said 10 participants with the best ideas from the 25 bootcamps nationwide will be inducted into the Malaysian Global Innovation & Creativity Centre (MaGIC) programmes.

The 1MET initiative was proposed on 18 June 2013 during a National Blue Ocean Strategy Summit, as a holistic approach that cuts across and increases collaboration within various government agencies, NGOs and private sector entrepreneurship entities and networks in the country. The National Blue Ocean Strategy or Strategi Lautan Biru Kebangsaan provides a creative and systematic way in creating high value initiatives at low cost. This new approach is supported by the Prime Minister of Malaysia, Dato 'Sri Mohd Najib Tun Haji Abdul Razak to be adapted and implemented by the government.


Hashtag: #1met