- POSTED: 09 Jun 2014 21:50
- UPDATED: 09 Jun 2014 23:16
Some 400 youths took their first step towards building their own businesses at a symposium on entrepreneurship on Monday.
SINGAPORE: Some 400 youths took their first step towards building their own businesses at a symposium on entrepreneurship on Monday.
The Youth Entrepreneurship Symposium was organised by the junior membership arm of the labour movement.
Speaking at the event, Minister of State for Trade and Industry Teo Ser Luck told the students that entrepreneurship is crucial for Singapore's economy and that start-ups add vibrancy and create jobs.
But he said entrepreneurship is a challenge, and the reality is not all start-ups will survive.
He added that the government will continue to provide strong support for start-ups in terms of funding and infrastructure and encouraged the students to continue developing a "spirit of entrepreneurship".
Mr Teo added the support has brought about an increasingly vibrant start-up scene.
"Entrepreneurship is all about thinking innovatively and acting on new ideas. We need not confine the idea of entrepreneurship to that of starting a business.
“The spirit of entrepreneurship is equally needed and valuable if you are an employee in the private sector or even if you work in the public sector,” he said.