Today’s innovation economy, needs and opportunities are evolving faster and more fluidly than ever before. Schools and colleges need to develop mindsets that equip students to recognise opportunity, take initiative, and innovate in life’s challenging realities.

However, the primary focus on content, not attitude or thinking processes rewards the memorising curricula learning model which leads to a workforce that is often ill-equipped to deal with problems requiring critical and innovative thinking.

Reliance on exams, the primary method to determine a student’s worth in a subject, divides many, giving an edited snapshot of a student’s subject knowledge, filtered and tailored for purposes of passing specific exams. Is this the kind of learning we want to encourage?

The EY Malta attractiveness surveys show that employers sought specific skills:  proof of a student’s ability to think critically, to analyse, problem solving, or identifying opportunities, coordination, creativity, effective communication and ability to improve outcomes.

The Central Bank of Malta indicated “while Malta managed to reduce rates of early school leavers to 16.7 per cent in 2020, (compared to EU’s 10 per cent benchmark), early school leaving without basic qualifications compromise employability later in life due to lacking skills, and has economic and social costs.”

It added: “In 2020, Malta had the second highest share of low-skilled workers in the EU: 40.3 per cent of its population having a basic education level equivalent to level 2.  Predictions of future skills needed in Europe suggest that in the coming years only one in 10 jobs will be within reach for those with a basic level of education as the demand for those with low qualifications is projected to fall as more employers seek highly skilled employees”

Malta’s education system needs to consider alternative options to address these issues and better prepare students for life and future jobs, to progress their careers. In some European countries, the US, Singapore and Malaysia, mandatory teaching of entrepreneurship education and entrepreneurial mindsets for young people is instrumental in achieving these and other broader objectives.

What skills, behaviours and attitudes do students need to reach and thrive in life? What skills, behaviours and attitudes do they need to be successful on the job? What skills and behaviours need to think entrepreneurially? And which of these can be reliably taught by schools up to college level, or beyond?

There is evidence that suggests part of the answer is found in a cluster known as the entrepreneurial mindset, supporting the premise that entrepreneurs approach work and life in a distinctive way. This comprises skills such as initiative, adaptability, communication, critical thinking and problem solving.

An entrepreneurial mindset is crucial for creating new business ventures- Louis Naudi

Why is an entrepreneurial mindset important?

Research demonstrates that entrepreneurial skills help students engage and succeed in school: “improved school attendance, and educational attainment and performance.”

Such a mindset confers lasting advantages on young people, including improved job prospects, earning potential and personal development.

Entrepreneurial skills are employment skills, valued by employers, especially in today’s innovation economy.

An entrepreneurial mindset is crucial for creating new business ventures, which spur a wealth of opportunities.

Evidence from entrepreneurship education programmes in the US, targeting noncognitive skills to improve life chances of children and young adults, showed significant increases in the entrepreneurial mindset, specifically communication and collaboration, opportunity recognition, critical thinking and problem solving.

A positive association between mindset gains and perceptions of future career success impacted their experiences, improving students’ attitudes and behaviour, reducing early dropout rates from schools and anti-social behaviour.

A learning approach to teach entrepreneurial mindset has been developed at the University of Malta to enhance student entrepreneurial spirit, to promote behaviours, develop competencies and value attributes of entrepreneurship.

This learning and application is demonstrated through the development of team based collaborative projects, building students self-belief and confidence, who are taught how to recognise problems, reframe as opportunities and develop their entrepreneurial mindset, skill set.

This includes evaluating market opportunities through research, strategy, communication, prototypes and presentations, often liaising with industry or other specialists; and overseen by lecturers to hone their skills.

These are key elements in the project, the critical skills required in the workplace today. Research demonstrates that entrepreneurial skills can be taught and learned by students from a range of backgrounds and ages.

What needs to be done in Malta?

Redefine entrepreneurship as a fundamental part of the learning process; there is mounting evidence that these skills can be learned.

Incorporate entrepreneurship into mainstream education.

A focus on entrepreneurial skills should not be unique to career, technical or business education programmes. Teaching these skills can and should be built into mainstream classrooms and curricula and can help to reduce dropouts and bring about interest, involvement, creativity and imagination for both students and teachers.

Schools, colleges and universities should change to “place a premium on the tasks that machines cannot do: collaboration, creation and leading”. These skills lie at the heart of entrepreneurial mindset.

Louis Naudi is a senior visiting lecturer at the Faculty of Economics Management & Accountancy of the University of Malta