This research examines the link between experiential learning and the incubation process of new venture creation among student learners within a Malaysian Institute of Higher Learning. In addition, the study aims to assess how experiential learning and incubation process affect the student's entrepreneurial competencies and to analyse the moderating effect of close mentoring. A quantitative approach using a cross-sectional survey was taken to analyse the relationships among the variables through path analysis. The results show that the practice of experiential learning and incubation process improves students’ practical skills, especially in critical thinking and entrepreneurial competencies. Also, close mentoring became a vital moderator of these relationships, improving the efficiency of interventions that encourage students in their entrepreneurial activities. The findings stress the need to incorporate the experience derived from practice, the help of solid incubation, and advice into education for entrepreneurship to improve entrepreneurial development in Malaysia and, subsequently, sustainable innovativeness and economic growth. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2025.
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