Recognising the power of entrepreneurship to grow global prosperity and stability

The 2016 Global Entrepreneurship Summit drew to a close earlier this month in Silicon Valley with US Secretary of State John Kerry talking about why the Obama administration has made entrepreneurship such a focal point and a priority, not just at home, but supporting its growth in developing nations around the world. The US has made economic prosperity an integral part of its foreign policy agenda and recognises the potential that entrepreneurship has to further socio-economic development globally. As Kerry says, “Entrepreneurship is an engine for shared prosperity and hope that helps bring stability to people and nations around the globe. It is about individuals improving their lives and their communities through good ideas and hard work. Success creates jobs, brings new products and services to market, and gives people a stake in seeing their local communities succeed. Entrepreneurship promotes stability and social inclusion and offers an alternative to conflict and extremism.” Given all the unrest and turmoil in the world right now, perhaps a new generation of young and socially conscious entrepreneurs will help to find solutions to so many of the challenges facing us today, and steer the developing world into new era of peace and prosperity.