Afirica's Entrepreneurial Youth and Women- Obama Kenya Visit Summary
Are there any urgent ways to amplify this conversation through hubs 1 2 and open learning channels 1.. 2
thanks chris macrae www.economistafrica.com mobile 240 316 8157
Remarks by President Obama at the Global Entrepreneurship
Young people like you are harnessing technology to change the way
And the country that's hosting us today is setting an important example --
And the good news is that I’m not the only one who sees the promise of
So today, we’re taking the next steps to partner with you. First, we’re offering entrepreneurs more startup capital. At last year’s Entrepreneurship Summit, we set a goal of generating $1 billion in new investment for emerging entrepreneurs around the world, with half the money going to support women and young people. (Applause.) A few months ago, I challenged governments, companies, organizations and individuals to help us reach this target. Today, I am proud to announce that not only did we make our goal, we surpassed it. (Applause.) We’ve secured more than $1 billion in new commitments from banks, foundations, philanthropists, all to support entrepreneurs like you.
Everywhere I go, across the
Entrepreneurship means ownership and self-determination, as opposed to simply being dependent on somebody else for your livelihood and your future. Entrepreneurship brings down barriers between communities and cultures and builds bridges that help us take on common challenges together. Because one thing that entrepreneurs understand is, is that you don't have to look a certain way, or be of a certain faith, or have a certain last name in order to have a good idea.
The challenge is -- as so many of you know -- it’s very often hard to take those first steps. It’s hard to access capital. It’s hard sometimes to get the training and the skills to run a business as professionally as it needs to be in this competitive world. It’s hard to tap into the networks and mentors that can mean the difference between a venture taking off and one that falls flat.
And it’s even harder for women and young people and communities that have often been marginalized and denied access to opportunities. You run into old attitudes that say some people, because of where you come from or what you look like, don’t have what it takes to lead or create a business. And sometimes it's subtle. You go into pitch an idea and maybe the response you get might not be as enthusiastic as if someone else pitched the exact same idea. Sometimes women or folks from communities that historically have not been viewed as entrepreneurial may not have the means of opening those doors just to get in front of the right person.
Of course, the best answer to that kind of thinking is the example that all of you are setting -- your success. And that’s why I’ve made encouraging this spirit of entrepreneurship a key part of
So this is our first Global Entrepreneurship Summit in sub-Saharan