Close mentoring as a catalyst for new venture creation: the role of experiential learning and incubation in Malaysian higher education

Close mentoring relationships are a key focus area of this research, which explores the connection between such relationships and entrepreneurial learning and the creation of startups among students at higher education institutions in Malaysia. Using Experiential Learning Theory as a basis, the study attempts to discover the way in which mentoring acts as a catalyst for the efficiency of experiential learning and incubation processes in the context of university entrepreneurship ecosystems. Entrepreneurship students (n = 479) from both public and private universities across Malaysia participated in a quantitative cross-sectional survey. The structure analysis shows that the services acquired to facilitate experiential learning and incubation processes significantly contribute to entrepreneurial development and venture creation. It is important that close mentoring has, on one hand, a direct impact on the creation of a new venture, and, on the other hand, it acts as a moderation in terms of strengthening the relationships between the experiential learning, incubation processes, and entrepreneurial results. The results emphasise that mentoring acts as a relational catalyst that supports students in turning those experiences into actions toward entrepreneurship. Through this article, we expand the scope of the mentoring relationships and entrepreneurial learning literature, which has grown exponentially in recent years. Also, the study provides practical propositions for the design of mentoring-orientated entrepreneurship education at higher education establishments.