Entrepreneurs & a 'True Global Mindset'
Last week, we highlighted the fact that the Kauffman Foundation recently expanded its Global Scholars Program to include up to 10 recent graduates from U.S. colleges and universities.
Why did they expand the program? Ted Zoller gets to the point in a recent piece on the Huffington Post’s Small Business channel titled, “U.S. Entrepreneurs Need a ‘True Global Mindset’.” Zoller, the president of Kauffman Labs for Enterprise Creation, argues that entrepreneurs in the US and the network of intermediary organizations that support them must “work harder at learning and practicing the global game than (they) have done so far.”
Several factors come into play when thinking about the limitations of US entrepreneurs. First and foremost, the huge US domestic market has trained many US entrepreneurs to narrow their focus—an approach that is no longer as productive or profitable in an economic downturn, plus the continued emergence of future economic powerhouses like Brazil, Russia, Inda & China and where their citizens are spending their cash. Zoller also points out the “relative geographic and cultural isolation of the U.S.”
Is the Global Scholars Program’s 21 weeks of intensive learning from experts and innovative companies enough to turn the tide? We will start to find out soon—t here are only two (2) weeks left for U.S. graduates with great startup ideas to apply to the program.