Promoting Entrepreneurship for Global Growth
Setup
“Only by letting millions of entrepreneurs try new ideas, to innovate, to create businesses that put those ideas to work in a competitive and open way… are we going to be able to tackle the world’s big problems.” Angel Cabrera made this statement to World Economic Forum colleagues, calling for more action to support entrepreneurs around the world. However, in emerging markets, entrepreneurship continues to get more lip service than support from global leaders. Less than 1 percent of total overseas development assistance goes to support entrepreneurship development, despite entrepreneurship’s potential to address each and every one of the United Nation’s sustainable development goals. And, private-sector leaders in emerging markets tend to make safe investments in real estate and larger businesses while steering their philanthropic support to more traditional recipients like nonprofit health, education, and religious organizations. So, what can be done to fully leverage the power of entrepreneurship to drive global prosperity?
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