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I hope that like me, you have had the chance to witness the burgeoning phenomenon of entrepreneurship curriculum in American higher education. More and more, students have the opportunity to explore entrepreneurship on campus. In the process of creating entrepreneurship programs, universities have become more entrepreneurial themselves. This is great news. Colleges and universities are natural incubators of creativity and new ways of looking at things. And this new reality might mean that colleges and universities are better preparing students for success in the American economy where more professionals need to make their own jobs.
It is time to implement new methods to shake our economy out of this lingering spell of slow growth (a disappointing 2% rate) and high unemployment (hovering around 9%). And while the large federal budget deficit does not leave much room for implementing more traditional economic remedies, the Kauffman Foundation—at a press conference this morning here at the National Press Club in Washington, DC—suggested it is time for legislation. Startup legislation.
Last June, the United Nations Development Program released its Human Development Report for Egypt, which noted that 90 percent of the country’s unemployed, estimated to be 8 million, were younger than 30. Not surprisingly, time and again at post-revolution gatherings of political leaders and civil sector organizations set on creating a clear roadmap for the country’s political and economic development, youth entrepreneurship emerges as a key recommendation.
It has been a big week for entrepreneurship in Indonesia. U.S. Secretary of State Hillary Clinton arrived in Bali on July 21 to take part in an ASEAN Regional Entrepreneurship Summit (RES) held by the Ministry of Trade of the Republic of Indonesia and the Global Entrepreneurship Program Indonesia (GEPI). The theme of the 3-day RES was: “Emerging Entrepreneurs: The Next Big Chapter.”
In 2009, the Irish economy underwent one of the deepest recessions in the EU, with its economy shrinking by as much as 10%. Late in 2010, Ireland received an €85bn financial rescue package. Clearly, the winner of Ireland´s general elections held on Sunday (according to polls so far Fine Gael leader Enda Kenny) will have a lot on his shoulders. However, if the past is any indication, Ireland has the potential to resurge economically.
In his 2011 State of the Union Address a couple of weeks ago, President Obama talked about the importance of innovation to create the jobs and industries of the future. A few days later, the White House released a new innovation strategy as part of the President’s plan to “win” that future. This strategy said: “America’s future economic growth and international competitiveness depend on our capacity to innovate. We can create the jobs and industries of the future by doing what America does best – investing in the creativity and imagination of our people. To win the future, we must out-innovate, out-educate, and out-build the rest of the world.” A few days later the White House, in partnership with the Kauffman Foundation and Case Foundation, launched a Startup America initiative aimed at doing just this.
I report in today from Shanghai where preparations are underway for a major global summit on entrepreneurship at the end of March. The recent events in Egypt have put a spotlight on the role of a younger, well-educated generation of entrepreneurs peacefully channeling expressions of economic freedom. China has been miles ahead in reconciling a strong government with messy entrepreneurialism and offers some useful lessons for Arab nations as they grapple with enabling, rather than blocking, their citizens under the age of 25.
This past Friday I was surrounded by entrepreneurship education leaders from all sectors the Future of Entrepreneurship Education Summit, a gathering held at the University of Central Florida where actors of our entrepreneurship ecosystem met alongside established entrepreneurship educators to discuss current trends and ideas to nourish the entrepreneurship mindset.
Most policymakers are starting to both heed entrepreneurs for their job and wealth creation efforts during these tough times as well as pick up on one of our nation’s biggest source of high-growth start-ups: immigrant entrepreneurs. But if public reaction to a recent NPR segment and recent Washington Post commentary on the topic are anything to go by, I fear we have a long way to go to convince the average American citizen.
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.
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