Do you know what entrepreneurship is? Do you know any entrepreneurs around you? Does Mongolia have enough entrepreneurs?

Entrepreneurship is the process of thinking, launching and running a new business, which starts from a small business such as a startup company.

Participants of the Young Leadership Program (YLP) of Zorig Foundation have formed teams to work on community development projects aimed at contributing in the development in their communities. YLP is an eight-month long program designed to develop the leadership and management skills of young Mongolian professionals and broaden their knowledge about the world and their communities.

Teams comprised of seven members of the program decided to implement the Young Entrepreneurs Project among eighth and ninth grade students, which is designed to improve their entrepreneurial mindset.

Through the project, the team asked question about entrepreneurship from strangers in the street, such as “What is entrepreneurship?”

They found that people in Mongolia don’t know much about entrepreneurship and why it is necessary for the Mongolian economy.

That’s why the project team decided to run workshops for students of three general education schools: New Era International High School, New Beginning International High School, and Mongol Aspiration International High School.

The project is aiming to inspire young generations through entrepreneurial thinking and encourage them to run their own business after graduating from university.

Young Entrepreneur Project leader E.Bilguun-Ochir said, “General education schools in foreign countries teach business studies lessons to students, but Mongolian schools don’t. This kind of lesson should be taught in schools, because it expands students’ business thinking and ability to become independent. We chose three schools because they offer Cambridge education and teach Business Studies. If we run projects among students who already have a little bit knowledge about business, they have a high chance to succeed.”

The first workshop was held for students of New Era International High School on April 1 and 2. The project team taught a lesson on “Who is an entrepreneur?” and “Design Thinking”.

During the workshops, the students are provided with information about the economy and financial knowledge.

Thirty-five students were divided into five teams and participated in the Young Entrepreneur Project. All five teams presented their business ideas to the project team and three of them won a prize for their business models “Stationary ATM”, “Gift Card” and “Book Rent”.

Students presenting idea of “Stationary ATM”
Students presenting idea of “Stationary ATM”

Three teams received an asset fund of 100,000 MNT each, and they carried out their business idea in real life with their asset for five days. The best team will be selected this Sunday.

The next schools to be involved in the project will be the New Beginning International High School and Mongol Aspiration International High School.
Three winners from each school will compete against each other and the winner will be announced on the last day of the project.

Currently, the team is facing financial issues. Contact to project leader E.Bilguun-Ochir, if you want to support them.

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