Ulaanbaatar
Role of universities in entrepreneurship development increasing
Economy
Ulaanbaatar /MONTSAME/ ‘Mongolian Entrepreneurship Summit-2018’ kicked off under the theme ‘Role of universities in entrepreneurship development’ today, on December 6.
The annual event aims to develop entrepreneurship in Mongolia, improve legal and financial environment, increase participation of government and non-government organizations, intensify cooperation and improve correspondence.
A number of startups are introducing their activities at the summit, seeking for investment opportunities.
A team of the National University of Mongolia (NUM) led by professor B.Munkhjargal and Dr. Ts.Tuyagerel at the Department of Chemistry is working on the production of ‘Jangar’ energy drink. “The dairy industry produces 104 tons of whey as a waste annually. It is possible to produce whey based energy protein drinks. We have been working on this project and have already sampled and patented our product, receiving a certificate of pure eco product from professional inspection agency,” said student of NUM Business School U.Batmagnai.
Students and professors of Business School collaborated in the project, developing a startup business based on the long-term study of the chemists.
Director of NUM Business School Ch.Enkhbayar emphasized that university is an ideal startup platform. He also noted “Professors of chemistry and physics department come up with many innovative ideas and technologies, receiving patents on it. However, they lack of business knowledge and experience when it comes to further development. But with the help of our business professors and students, it is possible to successfully develop the ideas and save time.”
“The university is no longer seen just as an educational institution. The tendency of entrepreneurship activities in universities are emerging. National universities have started to support and develop startups, improving the business orientation,” noted L.Oyuntsetseg, professor of the Graduate School of Business at the University of Science and Technology (MUST).
