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Today marks a new era in entrepreneurial finance as the measure in the 2012 JOBS Act (Jumpstart Our Business Start-ups Act) allowing “emerging growth” companies to ask accredited investors for equity investments publicly (e.g., through social media) without having to register the shares for public trading goes into effect.
One hundred years of banked future hydrocarbon revenues, massive investments in higher education and a common legal framework based on western law all offer this small nation—the size of Connecticut—tremendous potential to be a hub for startups in the GCC. I find it curious therefore that at Qatar’s famous “Doha Forum” I participated in today, entrepreneurship and startups were not on the agenda.
Following last week’s comments on the Global Entrepreneurship Research Network, I offer a second and final post on matters arising from the government-convened entrepreneurship summit in Kuala Lumpur. The roundtable discussion among “startup policy” experts on October 12 signaled a new chapter in knowledge creation around how governments can better enable their startup communities.
Of the nearly 4,000 delegates from 153 nations signed up for the Global Entrepreneurship Congress (GEC) next week in Moscow, a large number are traveling from Latin America. The region’s startup ecosystems are now firmly part of the global entrepreneurship grid and with such strong delegations expected from cities like Medellín, Santiago and Buenos Aires, it is clear they don’t want there to be any doubt around the world about it.
Global interest in the emerging entrepreneurial economies of Latin America has been on the rise. It is where Endeavor began—launching in Chile and Argentina in 1997—and more recently, the region’s vibrant cultures have led the likes of Geeks on a Plane and the Global Entrepreneurship Congress to take a closer look. This spring we report back from a few economies in the region.
Even during this bruising recession, risk-taking entrepreneurs in the developing world seem to be seeing opportunities to leapfrog others and create advantage. And, as the Kauffman Foundation’s Carl Schramm recently argued in an article in Forbes magazine, I am not just talking about mobile technology in Africa.
It is true that governments cannot be ignored by entrepreneurs—they set the rules and incentives. But it should not be surprising that vibrant entrepreneurs typically show, at best, nonchalance toward government. Most government agencies across the globe remain inefficient and cumbersome—especially when you compare even a well-funded government program to a collection of bootstrapping startups.
Israel is one of the most innovative nations on earth. Israelis (approximately 7.6 million in number) are well-educated, have a global outlook, ties around the world, and most importantly, a positive view of entrepreneurship. Most Israeli entrepreneurs understand ways of moving innovations into the marketplace and how to establish themselves as global companies from the get go. It is only natural that there is so much interest around the world in Israel’s entrepreneurship path.
I have just returned today from the Global Entrepreneurship Congress (GEC) in Liverpool where a weeklong festival of entrepreneurship floated powerful ideas about everything from seeding startup communities to smarter national top-down policies. This week I take a quick look at last week’s GEC and why it matters as a symbol of the democratization of entrepreneurship.
Late September is always a busy
time in New York and Washington for world leaders. New York is crowded with
heads of state and visionaries at the UN Assembly or the Clinton Global
Initiative, and in Washington, DC, the World Bank Group and IMF
Annual Meetings that took place this past weekend always spur an assortment
of organizations with global economic development missions to gather their
flocks. We all wonder what all these expensive ‘meetings of the minds’ are
accomplishing. To share my own bias, it prompts me once a year to check in and
see how much development bureaucrats are really seeing and listening to the
entrepreneurs on the ground doing the work.
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