University plays an important role in nurturing its students to have creative minds and imagination that will help them be successful in any endeavor they pursue in life afterward. Business ideas can be fostered in every corner and every second, no matter whether students are in the classroom, in their comfortable dorm room, or at home. However, to begin a business is not easy. In addition to a brilliant business plan, there are numerous details to care for, such as how to register the business with the government and how to report taxes and understand the tax codes. It is unlikely that any 20 something students would be able to deal with all these scatter, important knowledge about making a successful business while maintaining focused on his or her genuine idea and creativity.
The MSME Dean (Dr. Uree Cheasakul) perceived such an imminent trend in the business world and understood the need for the University to foster creative minds in teaching and learning as well as research. She thus lent her expertise in the leadership and in the business education to this important project. She first secured a grant of 1 million baht from the Office of Higher Education Commission (OHEC) in 2014. Her endeavor also earned her the support from all corners of the University, especially the Rector. With the encouragement from the Rector and with the cooperation from deans of other faculties, the responsible team of the Assumption Business Leadership Entrepreneurship - University Business Incubator (ABLE-UBI) Center was assembled and appointed in November, 2014.
The ABLE-UBI Center was established based upon the premise to help out creative students, foster their business minds, and disseminate essential knowledge about how to maneuver in the complex business world and make their businesses successful ultimately. Not only does the Center lend aids to students, but it also assists faculty members and staffs if they have genuine ideas and persistent drives to start a new business.
The Center shares its embedded knowledge about how to foster business ideas and promote startups via regular classroom teaching. Case studies of how to start up a business is a regular theme and repeated focus in the course, MGT 4914 Entrepreneurship. The Center also hosts startup business presentations, exhibitions, and fairs on campus and off campus.
Every business is different. Thus, there is no uniform knowledge that can apply to all. To record the knowledge assets useful for all and future entrepreneurs, the Center keeps an active log to document progresses of all startup projects. They can be referenced and learnt and analyzed for future entrepreneurs and business owners. More importantly, the Center records any project, no matter whether it fails to materialize into a viable business or it eventually takes off to be successful, because there is much to learn from a failing business as the same as from a prosperous one. The Center is currently planning to create an electronic depository of all these case studies, which allows easy access and better usage in the future.