Final Year Project as Impetus to Entrepreneurial Intention: A Cross-cultural Analysis

Abstract

This paper performed a cross-dimensional analysis in three-folds: assessment of entrepreneurial dimensions during the conduct of Final Year Project (FYP), implementation of FYP as start-up and the challenges faced by the students on the realization of the FYP as a start-up. There were 281 survey and 24 focused interview participants from the two private higher education institutions in Oman and the Philippines. The FYP students in both countries and specializations exhibited high entrepreneurial spirit but none of them utilized the projects as a start-up. The challenges faced in turning the project to business venture were lack of business knowledge, entrepreneurial attitudes and skills. Overall, there was one in every six students who intended for a start-up whereas one in every six teachers believed students can do so. One in every three teachers expected students to be employees. The results clearly emphasized an 'employee' culture and 'employment to entrepreneurship' pattern of education. Therefore, colleges and universities must capitalize on the strong entrepreneurial spirit and intention of the students to create start-ups through linking the entrepreneurial support programs to the FYP. The sustainable campus entrepreneurship to address the identified challenges of lack of business knowledge, skills and values must be promoted.