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Last week, I argued in favor more high-skilled immigration to bring additional entrepreneurial talent into the country for the near future. Today, I want to focus on an urgent policy issue that needs to be addressed to produce results over the long-run. Improvements in education are essential to equipping American citizens with entrepreneurial skills. Creative thinking and prudent risk-taking are no different than any other skills people are born with; they are likely to be useless unless the skill is developed through education and experience.
Last Friday, I had the opportunity to join an extraordinary group of women entrepreneurs mostly from Saudi Arabia for a lunch at the home of the Honorable Esther Coopersmith. All were both proud of their higher education in Saudi Arabia and had started companies in a wide range of businesses from construction to IT. I should not have been surprised. Starting a business in Saudi Arabia is relatively easy. Its “ease of starting a business” rank is 13 out of 183 economies, according the World Bank’s Doing Business 2010 data. This is not surprising. Saudi Arabia is widely recognized as a leader in promoting and enabling entrepreneurship and innovation.
Turkey offers quite a sophisticated platform for entrepreneurs. It has a diversified industrial base, a relatively stable political and economic environment, a critical mass of willing early adopters, a considerable talent pool, a strong domestic market and underserved neighboring markets. Yet, currently only 6 out of 100 people are entrepreneurs – a very low rate given the country’s level of development. What challenges does Turkey need to address in order to unleash entrepreneurship as a force for economic growth?
It is an important week for entrepreneurship in the Middle East. Here in Dubai, two important global summits will be convened by His Excellency, Sheikh Nahayan Mabarak Al Nahayan, United Arab Emirates Minister of Higher Education and Scientific Research, and Carl Schramm, President of the Kauffman Foundation: The HCT Global Entrepreneurship 2010 Conference (E2010) and the Kauffman Foundation’s Global Entrepreneurship Congress which I will emcee.
It is an important week for entrepreneurship in the Middle East. Here in Dubai, two important global summits will be convened by His Excellency, Sheikh Nahayan Mabarak Al Nahayan, United Arab Emirates Minister of Higher Education and Scientific Research, and Carl Schramm, President of the...
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.
During the “Presidential Summit on Entrepreneurship” hosted by President Barack Obama in Washington, DC, in April 2010, it became clear that the seeds of entrepreneurship as an economic development policy and diplomatic tool had been planted. Today, I send in a quick report from the Second Global Summit on Entrepreneurship in Istanbul which has brought together approximately 1200 successful entrepreneurs and leaders from Turkey and across the world for idea sharing under the general theme of “Entrepreneurship, Values and Development: A Global Agenda”. Turkey’s Prime Minister Recep Tayyip Erdoğan hosted the event and US Vice President Joe Biden spoke yesterday.
The Doing Business 2010 report highlighted how the financial crisis has prompted governments to act in areas where regulatory reform may be more difficult and require more time. The report states that in times of recession, “the more quickly the assets of nonviable firms can be freed up, the easier it is to remobilize those assets.” While the U.S. remained ranked 4th in the 2010 ease of doing business list compared to its 2009 rank, other countries have implemented several reforms that improved their ranking. How has the EU fared?
Many readers of this blog are familiar with the Kauffman Foundation and its work around the role of the entrepreneur as the chief agent for innovation, job creation and economic growth. Today, I would like to comment on another contribution of entrepreneurship to society- the expansion of human dignity.
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