Friday, June 24, 2016

India to host US govt’s Global Entrepreneurship Summit next year

Samidha Sharma,

image (not from article) from

Palo Alto, California: US President Barack Obama's flagship foreign policy programme which he launched six years ago is coming to India next year. The Global Entrepreneurship Summit (GES) centres around promoting economic growth, inclusion, and opportunities among entrepreneurs from across the world, with a special focus on emerging nations from Africa and Asia.

Recognizing the importance of fostering and enabling environment for innovation and empowering entrepreneurs, the United States welcomes India's hosting of the 2017 GES, a press statement from the White House said. This comes at a time when India's thriving startup ecosystem has gotten a further push with the local government led by Prime Minister Narendra Modi's active support of the entrepreneurship ecosystem via initiatives like Startup India.

While addressing a select media group, Richard Stengel, under secretary for public diplomacy and public affairs, said on the sidelines of GES 2016, that even with a regime change at Washington DC later this year, the annual event will continue having gained momentum over the years. "Entrepreneurship is such an American idea whoever the next president or administration is fostering entrepreneurialism is something anybody would support. The fact that 2017 is already on the cards is a big thing. The foundation is so strong and robust that it will continue. It's a win-win proposition." Stengel told TOI that the impact
measurement of GES is something the US government is looking to do going forward.

India's answer to GES, was held in January this year when Modi unveiled his government's ambitious project 'Startup India' in Delhi with the charter of encouraging the youth to "be job creators, not job seekers[.]"

Being held at the Stanford University campus this year, GES has picked as many as 700 entrepreneurs, among them are Uber's cofounder Travis Kalanick and Airbnb's Brian Chesky, along with 300 investors who will be representing 170 countries. The first day of the summit was devoted to emerging youth and women entrepreneurs, in a smaller event known as GES+.On the first day of GES, which focussed on women and youth entrepreneurs, computer maker Dell along with data analytics company, IHS unveiled a report of the 25 best cities globally for women founders based on parameters like availability of capital, technology, talent, culture and markets. Delhi ranked 22nd on the list of cities which have most successfully been able to attract startups founded by women with New York, the Bay Area, London, Stockholm and Singapore forming the top five.

(The writer is in Silicon Valley to cover GES 2016 on an invitation from the US government)