Creating a culture of entrepreneurship will be key to the cities of the future

By 2050, the vast majority of the world's population will be concentrated in cities, which means that new ways of thinking will have to be developed to create new economic ecosystems in those cities that will support these rapidly expanding urban populations. Gallup Chairman and CEO Jim Clifton wrote an interesting article on this subject suggesting that their data tells us that for cities to meet these growing economic needs, the focus will need to be on creating a culture of entrepreneurship. He said: “City leaders must place entrepreneurship at the heart of their economic and policy agenda. The old ways just won't work. So as we look at the horizon over the next 50 years, the playbook has to change.” The bottom line is that these cities of the future will need not only to attract innovators, but they will also need to identify and develop entrepreneurs who can turn those innovations into successful businesses.