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“the Future Of Higher Education Financing In The Usa: Trends To Watch” – PUTRAJAYA: Datuk Seri Mohd Khalid Nardin is setting his course to regain Malaysians’ confidence in the country’s higher education system.
“Our universities were once respected by locals and foreigners alike because we had quality leaders; Students in constant search for knowledge; and great intellectuals such as professors and graduates.
“the Future Of Higher Education Financing In The Usa: Trends To Watch”
“We didn’t have superficial measurements of success but people believed in our universities because we were serious about education; they chose us because we were champions in rankings or topping the league in our quest to commercialize our education,” he said while delivering his New Year message to ministry staff on January 30.
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“I want to create a culture where you trust me, not because I am a minister, but because I am able to work with each and every one of you to make this ministry credible and respectable again.
“I want this ministry to be free from scandals, controversies, abuses of power and wild gossip,” he said while sharing his strategic plan to reform the ministry (see infographic).
At the ministry level, Mohd Khalid announced the formation of a National Review Committee to deliver on the national aspirations of Malaysia Madani.
“Everything we do in the ministry and all the agencies under it must translate the national aspirations (of Malaysia Madani) firmly, completely and precisely.
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“We must once again become a very credible ministry and a very credible system,” he said, which is critical given the multifaceted nature of today’s national education landscape and the health pandemic, climate change, energy crisis and cognitive setbacks. war
“This is an open search for the most reliable and qualified individuals. Preference will be given to those who understand the national aspirations of Madani Malaysia.
“Our mission, plans and projects should have a clear, measurable goal and these should be supported by solid evidence and driven by good leadership,” he added while reminding the Vice-Chancellors of Higher Education Institutions (HEIs) of their roles and responsibilities.
“University leaders are able to provide solutions to national problems, build synergies with other institutions, find initiatives for universities to become financially independent, and be catalysts to uncover the hidden talent within their institutions.”
Infographic: Financing The Future Of Education
He announced that the Higher Education Leadership Academy (ACCEPT) would be reestablished and streamlined to do more than select and train HEI heads.
He said the program should be designed to nurture talented leaders from Malaysia or other developing countries to become global-class higher education leaders.
“Although we have had a good start, countries like South Korea, Taiwan, Vietnam, the Philippines and Singapore, which were at par with us 30 years ago, are now ahead of us,” he noted.
He proposed that the National Higher Education Sector establish a unit similar to the Performance Management and Delivery Unit (PEMANDU) or the Financial Incentive Implementation and Coordination Unit between National Agencies (Laksan), saying this is necessary to ensure the implementation of the ministry’s strategic plans. And its goals have been achieved.
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“Infrastructural developments such as new buildings and new public universities will be suspended until the country’s fiscal position recovers and strengthens,” he shared.
In preparation for the future, “A New Horizon for Science, Technology and Innovation – A Strategy for Malaysia”, a white paper will be prepared to assess the Ministry’s strategy and impact in managing current and future technological disruptions.
“It will help us plan ways to carry forward our knowledge, enrich our innovations and reduce administrative burdens,” he said.
Mohd Khaled emphasized the need to strengthen Malaysia’s role as a linchpin that attracts students, researchers and talent from around the world.
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“We cannot be just an international student hub. The Global Malaysia Outreach agenda will be revitalized so that we can become a hub of talent and knowledge and a center of universal knowledge,” he said.
Making higher education accessible through inclusive and flexible learning and transforming the National Higher Education Fund Corporation (PTPTN) into a national trust fund will be examined.
“MoHE is Malaysia’s brain trust, so it is only right that the brightest ideas, most authentic research and most respected thinkers come from our HEIs, which should work to prevent brain drain.”
The ministry will increase its investments in post-graduate training, doctoral and special education and make “major changes” in the national technical and vocational education and training (TVET) ecosystem, as the country needs more “future-proof” individuals. “Technical Skills and Abilities.
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Community colleges are “given back to the people,” he said, because they should be the main destination for graduates or those who have lost their jobs to rebuild and revive their careers or interests.
“Community colleges are not a place to chase diplomas and certificates, but a place to nurture passion with skills that will ultimately benefit their lives,” he said.
Crediting private HEIs for their resilience, Mohamed Khaled said the ministry would do everything to expand the sector beyond the country’s shores.
He said the Malaysian Qualifications Agency (MQA) has collaborated with the private sector to market the Malaysian curriculum globally.
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“Academic policing must stop so that we can create a holistic higher education system that does not differentiate between public and private HEIs, community colleges and polytechnics.”
HEIs, Muhammad Khalid emphasized, should strive for academic excellence at the highest level and of high quality.
The focus should be on developing students who are “smart and have sharp skills”, as explained by Professor Willem Schmidt and Dr Shien Jin of the Asia Business School.
“In the process of humanizing people, students are given more power, freedom, responsibility and the opportunity to make decisions through student movements and student associations, such as opening enterprises, managing the association’s finances and planning their own work and struggle. Student agenda,” he said.
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“This is done so that students are able to experience the good and the bad, enjoy their own successes and reflect on their failures.
“Use your power for the greater good of mankind and the country; Keep our hopes high and be compassionate.
“Let us all do our best to make higher education the most important and the best sector in this country,” concluded Mohammad Khaled.
Starpix, digital advertorial, higher education, Mohd Khaled Nardin, Malaysia Madani, university, education Reality Bites. Expect major education investors to circle the sector as tourists depart. Funding rounds are smaller and more frequent and scale favorably on structure.
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Global EdTech venture capital investment fell by 80% from Q1 2022 to Q1 2023, due to a decline in mega-deals coupled with a global slowdown in investment activity. 2022 saw a progressive decline in edtech venture capital, amid a wider decline across the entire venture landscape. Q1 2022 was very strong and generally on trend with the previous year’s momentum, although each quarter of 2022 saw less and less funding allocated as markets evolved and the economy worsened.
2023 has unfortunately confirmed a large decline in funding, which is highly unlikely, a new normal for the coming year, perhaps several. As investment across the economy slows, the education ‘outsiders’ who joined the investment frenzy of 2020 to 2022 have now generally withdrawn from education or moved on to the next stimulus cycle, from Web3 to Generative AI.
Funding rounds completed through Q1 2023 will provide an indication of the types of EdTech startups that are thriving in this environment or carrying momentum into decline. Notable rounds in Q1 2023 India-based 🇮🇳 Avanse Financial Services, an education-focused non-banking finance company, raising $98M in growth equity, 🇺🇸 Coursedog US-based higher education-focused management platform raising $90M. MentorCliQ, a US-based mentoring software and services start-up raised $80M and UK-based 🇬🇧 Hack the Box (Cybersecurity), which received $55 million in Series B funding led by Carlyle. It is worth noting that Chinese testing and coding assessment platform 🇨🇳 NowCoder has raised a $50M Series B round led by Sequoia Capital. These five deals alone accounted for over a third of global EdTech venture funding in the quarter.
Apart from venture capital, M&A in Q1 was dominated by large incumbents disposing of or acquiring assets. Pearson sold its OPM business to Regent Private Equity to spearhead the K12 business in India. Companies like Andela, Go1, Noodle and PhysicsWallah acquired smaller players to fill gaps in their portfolios, IXL acquired Teachers Pay Teachers, Perdosio acquired Coding Dojo, Navitas Study Group’s Australian business (Taylors) and Houghton Mifflin Harcourt acquired NWEA. Expect this trend to amplify through 2023 as more startups (and their investors) choose to join a larger strategy in another funding round.
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Vista’s $4.6B take private of KnowBe4, a security awareness training and simulated phishing platform, offers a more attractive and enhanced growth platform for the business than the capital markets will have for years to come. Meanwhile, Google’s regulatory approval to acquire PhotoMath is a major win for the tech giant and brings a very interesting capability and user base to Google’s AI-dominated landscape. PhotoMath has long dominated app store rankings
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