BANDAR SERI BEGAWAN – Laksamana College of Business (LCB) launched its own startup incubator on Wednesday, aimed at promoting entrepreneurship and innovation among graduating students.

The Centre for Innovation, Incubation and Entrepreneurship (CIIE) — also known as the “Incuvation” centre — will be a regional technology and business incubator, said LCB’s Chief Operating Officer and Deputy Principal Sivarajah Subramaniam.

The centre focuses on providing mentoring, training and financial support to early-stage start-ups across four verticals: ICT, eco-tourism, business and social impact.

“The launch of the centre is an important contribution to the sustainable growth of the country, as its business model and services are tailored to local needs and realities,” said Subramaniam.

“As unemployment is one of the main [national] issues, we wanted to provide a platform to encourage our students to go out and start their own businesses – to go into entrepreneurship.”

LCB Director Hj Awang Suhaimei Hj Awang Besar said with establishment of the centre, LCB aims to connect aspiring entrepreneurs with companies and industry leaders in Brunei.

“This is something we are currently working on. We want to provide continuous support to our students,” he added.

The look of the  LCB Incuvation Centre was inspired by the London Underground, and provides incubatees with workstations, meeting rooms and internet access. LCB students will also have access to a range of business information from match-making with venture capitalists to intellectual property and legal advisory services.

“We wanted to provide a more relaxed environment that’s young and vibrant which will hopefully help with their creative thinking and creative flow,” said Hj Awang Suhaimei.

Guest of honour at the event, British High Commissioner Richard Lindsay, lauded LCB’s drive towards entrepreneurship.

“Every country needs entrepreneurs. People who think for themselves, creative people bursting with energy and ideas. The type of people who don’t ask ‘What can you do for me’ but go out to create it for themselves,” he said.

“These are the people who see markets, who establish companies and who create jobs. They create wealth, opportunities and deliver growth. So this is exactly what is needed to deliver Brunei’s Vision 2035.”