Global Agenda Council on Fostering Entrepreneurship 2012-2014

 

The challenge

Entrepreneurship is recognized and nurtured worldwide as a source of job creation, financial stability, new products and services, competitiveness, democracy and economic growth. But there is risk in supporting it blindly and focusing too much on fashionable, technology-driven projects and excluding experienced entrepreneurs or established corporations from the discussion. Without the right approach, resources intended to foster start-ups could be poured into poorly planned programmes and misallocated to people incapable of using them effectively. Moreover, there should be a focus on scaling as well as on starting ventures to achieve sustainable results.

What the Council is doing about it

The Global Agenda Council on Fostering Entrepreneurship aims to help governments, investors, incubators, research and educational institutions, corporations and entrepreneurs themselves to find the path towards effective growth and useful innovation by highlighting the value of entrepreneurial ventures and by using its influence to highlight best practices and resources for supporting them.

Large corporations can benefit from strategically engaging with entrepreneurial ventures, with benefits ranging from making their supply chains robust and product lines more innovative, to developing more extensive distribution networks and infusing a culture of innovation in their teams.

In 2013, the Council co-launched globalentrepreneurshiplibrary.org – an online entrepreneurship content platform created and curated by trusted sources and promoted globally. This website, by and for entrepreneurs and their stakeholders, offers advice, links to relevant organizations and pertinent educational resources in different languages from around the world. It is operated in collaboration with the Kauffman Foundation, a non-profit organization in the United States, and was launched as part of Global Entrepreneurship Week (GEW), an international initiative engaging 7.5 million participants in more than 130 countries.

Large corporations can benefit from strategically engaging with entrepreneurial ventures, with benefits ranging from making their supply chains robust and product lines more innovative, to developing more extensive distribution networks and infusing a culture of innovation in their teams. Council Members have illustrated this in columns, blogs and video interviews disseminated to audiences around the world. The next step will be to host an event at Oxford in mid-2014 to engage corporations and entrepreneurs in a dialogue on the mutual benefits of collaboration.

In the coming months, the Council will also work with a wide range of participants to collect and publish evidence-based case studies, examples and stories to inform policy-makers about effective entrepreneurial ecosystems. In addition, it will explore and initiate approaches to promoting entrepreneurship in underserved areas, focusing on Africa.

In addition to its own activities, the Council continuously feeds into the work of the World Economic Forum’s Investors Industry project “New Models in Entrepreneurship” and the Forum’s regional project, “Fostering Innovation driven Entrepreneurship in Europe”.

To get involved please contact

Research Analyst: James Pennington, Associate, Global Agenda Councils, james.pennington@weforum.org
Council Manager:
 Lina Borén, Senior Associate, Global Agenda Councils, lina.boren@weforum.org 
Forum Lead: Michael Drexler, Senior Director, Head of Investors Industries, michael.drexler@weforum.org