What is Entrepreneurial Spirit ?

Entrepreneurship is when you act upon opportunitites and ideas and transform them into value for others. The value that is created can be financial, cultural, or social.

(Entrepreneurship education is) Content, methods and activities supporting the creation of knowledge, competencies and expriences that makes it possible for students to initiate and participate in entrepreneurial value creating processes.

— Danish Foundation for Entrepreneurship

The Hong Kong Education Bureau pointed out in 2017 that the “Entrepreneurial spirit includes the qualities of possessing creativity and innovativeness, taking initiatives and responsibilities, taking calculated risks, upholding perseverance in times of uncertainty and seizing the best of the opportunities ahead. Development of an entrepreneurial spirit is not teaching students to start or run new businesses. It focuses on developing positive values and attitudes, generic skills and knowledge which enable students to stay positive in uncertainties and grasp the best of the opportunities ahead.

Hong Kong Entrepreneurship and Innovation Capability Framework

In 2022, the research team of the project, the Education University of Hong Kong, reviewed the current foreign creative capability framework and integrated relevant literature to forme the “Hong Kong Entrepreneurship and Innovation Capability Framework” for Hong Kong.

The framework comprises four major areas, each with four competencies, resulting in a total of 16 competencies. These competencies are designed to cultivate individuals into visionary, innovative, and responsible leaders of the new generation, promoting their development as talented and capable leaders.

Value

Insight into opportunities
  • Believe that opportunities can be found in daily life
  • Believe in opportunities to cope with unknown circumstances/difficulties
Have Vision
  • Believe in imagined future
  • Believe that vision can lead to action
Cohesion
  • Believe that the team shares common values
  • Believe that teams with diverse backgrounds enhance the exchange of ideas and learning
Social Resposibility
  • Believe that social participation is necessary
  • Believe that wise decisions will contribute to society and the environment

Attitude

Active
  • Keen to reach out and solve problems
  • Passionate about taking the initiative to create value
Passionate
  • Enthusiastic and perseverant in achieving goals and ambitions
  • Enthusiastic about their career
Confidence
  • Believe in own ability to make a difference
  • Have the confidence to overcome challenging work
Modesty
  • Appreciate others' contribution
  • Demonstrate genuine caring to others

Knowledge

Innovative
  • Able to accept and adapt to new thinking
  • Able to experiment with innovative thinking
Knowledge of Economics and Finace
  • Able to make simple budgets and prepare financial statements
  • Able to make financial decisions and conduct regular reviews
Planning and Management
  • Able to identify starting direction and prioritize work
  • Able to monitor and review actions
Risk Taking
  • Able to identify risks
  • Able to avoid unnecessary risks

Skill

Leadership
  • Able to promote team capability
  • Able to inspire and motivate others
Resources Arrangement
  • Able to find and allocate needed resources
  • Able to make good use of limited resources
Relfective Learning
  • Able to reflect and review achievements and failures
  • Able to make improvements through reflection and review
Caring
  • Able to accept socio-cultural and economic diversity
  • Able to recognize the needs and social issues of others

The above framework has been developed by the research team of the project to educate the university, and it is also the learning objectives of the curriculum of the partner school.