On Friday 07^th March 2025, the School of Business and Management (SOBM) at IBSUniversity hosted a successful session as part of the Student Entrepreneurship Training Program (STEP). The event, titled “Entrepreneurial Journey – Career Opportunities & Mindset,” featured Mr. Clarence M. Hoot, Managing Director of the Investment Promotion Authority (IPA) PNG, as the guest speaker.

Mr. Hoot delivered an insightful session that encourages the students to seize entrepreneurship and contribute to the nation’s economic growth. He further emphasized on IPA regulations for foreign investments and the significance of developing an entrepreneurial mindset.

Additionally, his team extended the discussion by providing important information to the students, about business registration process in PNG, patents, copyrights, trademarks, and upcoming strategic plans for business operations in PNG. These discussions were useful in helping our students understand the legal and regulatory framework that governs businesses in Papua New Guinea.

The STEP event provided a platform for our students to gain practical and valuable information into entrepreneurship and business start-up processes. As part of IBSUniversity ongoing mission to continue training and educating our students with career-oriented knowledge, welcoming Mr. Hoot and his team to speak to our students under the STEP initiative is one way of instilling in our students the value of being well-informed, to make better decisions when considering their career opportunities.

The event was organized by Ms. Palakurthi Harika, STEP Coordinator and lecturer at the School of Business and Management. She pointed out why such programs are important for students to acquire the necessary knowledge to pursue entrepreneurial careers. She stated that such session offers practical advice on how aspiring student entrepreneurs can build a strong foundation for their entrepreneurial journey, to be sustainable and successful.

This year, STEP aims to bridge the gap between academic learning and real-world business challenges. The program will continue to invite industry leaders, host workshops on business development, and provide mentorship and networking opportunities for students to develop their own startup ideas

Commenting on the success of hosting the 2025 inaugural STEP session, Ms. Harika said, “STEP is designed to equip students with the knowledge, skills, and connections they need to turn their ideas into successful businesses. When we engage with business leaders, students gain a deeper understanding of the realities of entrepreneurship, inspiring them to take bold steps toward their future careers. We will continue to inspire, innovate, and create a better future for our students.”

Through the continued success of STEP, IBSUniversity is proud to support its students to be business leaders and changemakers and have this entrepreneurial mindset that will contribute to the growth and development of Papua New Guinea.