[Sub ID 4773] P2P Enterprise Capacity Building (USC International Development)
Submission ID: 4773
Organisation name: USC International Development
Contact name: Miss Kathryn Allan
Contact email: Kallan1@usc.edu.au
Contact number: 0754565486
Which priority group of the Try, Test and Learn Fund does your idea support?
Young students at risk of long-term unemployment
What need or issue are you trying to address?
We have identified that both secondary and university-level students on the Sunshine Coast have low graduation rates, with the University of the Sunshine Coast’s graduation rate currently at only 53.3% (Sundstrom, 2017). Australian University graduates are also facing high unemployment rates and a growing competition for professional jobs in their field of study. Greater losses are found within regional cities like the Sunshine Coast, with fewer industries to support both qualified and unqualified workers. In fact, research indicates that student must now be prepared to monetize their talents as traditional jobs are no longer status quo.
These circumstances are creating a greater welfare dependency among university graduates and a low utility of untapped skills. Action is required in order to address the risk of intergenerational welfare reliance, and decrease Australia’s long-term social security costs. The economic issues identified also lead to other social and psychological challenges within this generation.
The Sunshine Coast can respond to the increase of welfare dependency and utilise the talents of its youth through transitioning students. Not only will they be work-ready, but will be enterprise-prepared. We can pilot this program and apply it to similar regions around the country.
What is your idea?
Tech savvy graduates have more opportunities to monetize their skills outside the traditional workplace. Today’s entrepreneur is most likely to be under 20 years old. However, these young entrepreneurs lack the experience and support needed to commercialise their ideas.
Our solution bolsters existing education platforms by bridging the gaps in academia. Our parallel program would work with university students who choose an entrepreneurial pathway. We will help them to utilise their education to create commercial outcomes. We offer a partnership that enables students to pursue a degree while simultaneously developing business skills. We have identified a gap in existing incubator models, which traditionally focus on networking.
Enterprise eba for Emerging Entrepreneurs is a P2P (peer to peer) Model: A collaboration between emerging entrepreneurs developing commercial solutions. We fast-track experience by utilising the experience of the cohort as a learning dimension. Information sharing among the cohort is part of our governance structure.
Our program addresses the skill gaps that lead to failures in emerging entrepreneurs – Governance, Finance, Risk and Leadership. We are hands on and our experts are vested in every project we support. We use a value-creation model to support regional job growth.