GEWNovember 17 - 23 2014 MAGAZINE HOW ARE ENTREPRENEURS GETTING TO THE NEXT LEVEL? THE ART OF TAKING RISKS THE GLOBAL DRIVE TO ELEVATE ENTERPRISEGEW Magazine wGwEWwMa.ggazeinew.cPaoge 1
Welcome ContentsGet ready for the big week 12 Don’t guess what on Earth theGlobal are thinking. new entrepreneurs are thinking: Entrepreneurship What the big ideas are. Find out for yourself. Week (GEW) Where the trends are. And is the one time who is supporting and Scaling theall of the world’s brightest investing in them. entrepreneurialand best entrepreneurs, mindsetinvestors, supporters In this magazine we coverand policy makers come some of the events and by Jonathan Ortmans,together. profile just some of the President, Global hosts to give you a taste of Entrepreneurship Week;It’s one week with 10 million just how big, and important, Senior Fellow, Ewing Marionparticipants at 30,000 events GEW has become around Kauffman Foundationin 146 countries, supported the world.by 10,000 partners and 100 3 Forwardworld leaders. If you want to know what on The art of taking risks Earth the new entrepreneurs Sir Richard Branson exclusiveIt’s just one week every are thinking then getNovember but it’s the one involved with GEW 2014. 6 Event GEC 2015time you can see exactly Say buongiorno towhat the new entrepreneurs Milan Get ready for GEC 2015, theImagination is global showpiece for enterprise 4 Impact 2013the seed… What a week that FEATURED HOST was Global“Dedicated to people who imagine anything is possible, COUNTRIES Entrepreneurship Week 2013who start-up, fall and rise again: the dreamers, the doers and 14 Rwanda, UK, Denmark,the game changers” 8 EVENTS 2014 Qatar Creative Business CupMaree Morrissey Get in the RingDavid Bradley 16 Turkey’s new Cleantech Open entrepreneurial buzz Global IdeasPublishersCo-Founders 18 Iran: A new dawn in an 23 Sowing the seedsThink Ireland Inc. ancient land of entrepreneurshipInitiators andproducers of 19 Brazil is a success story Greece events:GEW Magazine Future Agro Challenge Tunisia’s golden Disrupt Startup ScaleUP mid-production selfie opportunity 14Credits & Contacts Promotional Feature. © Copyright (2014) of Watershed Media Ltd. 20 Ireland: A completely new mindsetGEW Magazine - The voice of Global Entrepreneurship Week A global destinationWatershed Media Ltd. GEW Global Head Office 22 Entrepreneurs are key22 Park Street, Dundalk, 2400 N Street, NW, Suite 603 to economic recoveryCo. Louth, Ireland Washington, DC 20037 Washington, DC 20037Published and produced by Watershed Media Ltd.Email [email protected] [email protected] www.gew.co @unleashingideas.com www.facebook.com/unleashingideas Watershed Media Ltd is a new-media company dedicated to global renewal throughembracing new ideas, thinking and imagination.A limited company registered in Ireland. Registration number: 540103All content appearing in GEW Magazine may not be reproduced prior A live-painting representing Rwanda’s thrivingto written permission of the publisher and in no case for profit. entrepreneurship ecosystem, created by GEW participantsPage 2 GEW Magazine
Looking “New entrepreneursForward are the job creators of the future.”The art of taking risksLife is a lot more fun if you strongly believed there was room test’ to be used alongside our networking. It is great to see so many say yes. At Virgin we are for a new player focused on the financial analysis when evaluating entrepreneurs lending their help to not afraid to take calculated customer and providing great service whether an opportunity should be the next generation, advising them on risks and have had some and entertainment. To ensure we considered or not. Having a set of business strategy and making sure tremendous successes did not put all of our hard work at values that protect against poor they don’t make the same mistakestaking on established companies in risk I negotiated a deal to lease one decisions is a great way to make sure they made.industries that needed shaking up. old Boeing 747 for a year to see if it you don’t over expose your brand’s would work. It did, and next year we reputation through a risk. Having As much as you try, some riskyPeople might think we are wild with leased a second plane! said that, risk taking is inherent in decisions will unfortunately go south.some of the projects we go into, but entrepreneurship and you can’t be All of the best entrepreneurs haverisk and reward are attached at the The heated debate we had around afraid of taking them.You’ve got to failed at some point and learnt tohip so it is important to have an open the Virgin boardroom table meant trust your instincts and give people a adapt and succeed. Look on everymind when starting a business. We’ve we found an acceptable way to chance. fresh failure as a learning opportunitytaken so many risks at Virgin that I expand and diversify. That’s why it is to help you get it right next time.can’t remember them all! so important to have an honest and I believe small and medium In a way the biggest risk to an talented team around you. Two heads enterprises are key to a strong entrepreneur’s success is the fearThe key is to know which chances are better than one and discussing economy. New entrepreneurs are of starting.are worth taking and which are any risky decisions with your team the job creators of the future. I amnot. Don’t just take on a challenge will help you get a more rounded very pleased to see the government by Richard Bransonwithout considering the downside. understanding of what could go encouraging a new generation ofFor example when we set up Virgin wrong and how to protect yourself entrepreneurs through their StartAtlantic 30 years ago we had a very from disaster, both to the balance Up Loans scheme. Virgin StartUp issuccessful record and entertainment sheet and your company’s reputation. one of Virgin’s newest companiesgroup. My fellow directors thought I and works with aspiring UKwas mad wanting to tackle such an We are constantly pitched investment entrepreneurs to turn their ideas intoexpensive and crowded industry. I ideas and have developed a ‘brand reality through mentorship, loans and GEW Magazine Page 3
Impact - GEW 2013 GLOBAL WEEKENTREPRENEURSHIP2013 - What a week that wasThe impact of Global Entrepreneurship Week 2013 was unprecedentedEvery year GEW gets bigger: that has considered entrepreneurship by piloting a training program for A relationship born from the 2012 Promotional Feature. © Copyright (2014) of Watershed Media Ltd. More participants take part a regional issue. potential angel investors. GEC in Liverpool between Youth in more activities in more Business International and Enterprisecountries supported by more Two Brazilian governors, in São The Universitas Ciputra Uganda resulted in a new agreementpartners. Paulo and Minas Gerais, unveiled Entrepreneurship Center worked with to fund entrepreneurship training and plans for new programs to support the Indonesian Central Bank (BI) to mentoring support for 10,000 youth in2013, not surprisingly, was the biggest potential high growth startups. launch a new program to train local northern Uganda.yet in pure numbers. But it was also entrepreneurs in agribusiness andthe biggest in terms of impact too with In Costa Rica, host Yo Emprendedor connect them with one of the biggest 126significant changes occurring all over reports that the government provided supermarket chains in Indonesia.the world. Here are just some of the $1.8 million in seed capital to 13 The number of heads ofeffects the world’s biggest enterprise entrepreneurs. The now-annual SlumFest in Kenya is state and ministers from 69event has had over the last 12 months: inspiring vulnerable youths in urban countries who participated The Georgian Innovation and slums and providing them with startup in Global EntrepreneurshipIn Algeria, the Minister of Entrepreneurship Development capital to launch new enterprises. Week, November 2013.Industry created a National Day of Center is collaborating with theEntrepreneurship to occur every government on new policies to In Lebanon, a new Life LongNovember during GEW. promote entrepreneurship. Entrepreneurial Learning Program was launched by a GEW partnerThe Angolan government created Innovation centre Klak Innovit credits in collaboration with the Ministry ofa new fund for entrepreneurs and international partnerships made Education and Higher Education.developed its first national policy on through GEW with giving startups inentrepreneurship since independence Iceland a global mindset that will IT Park, a state-funded incubatorin 1975. help them break out from their small in Mongolia, is integrating GEW home market. activities into its program for 300In Belgium, the Pulse Foundation startups.credits GEW for the birth of a The GEW India campaign expandednational entrepreneurship community, the pool of early-stage risk capitalovercoming a fragmented governmentPage 4 GEW Magazine
And the winner was… CrGoECa2tia breaks new groundA tech startup from software solution that verifies smartphone on the market.Kansas walked away identity via the human eye. Leading up to the final, more 2014 will see the world’s first GEC2 which iswith the global Get in EyeVerify identifies users than 1,000 startups across designed to give smaller countries a globalthe Ring title belt in by pattern-matching blood 32 countries competed forRotterdam vessels in the whites of the a shot at $1.3M in potential platform eye, creating an “eyeprint” angel investment butKansas startup EyeVerify, won that is more accurate than EyeVerify battled through, Every year Global Entrepreneurshipthe GITR 2013 international fingerprint scanning, with delivering their knockout Congress is held in March. Thisfinal with a pitch for their technology that is compatible pitch during GEW. year, however, a second Global with virtually every Entrepreneurship Congress and the first to have a specific theme, will be held in September. GEC2, ‘The2013 Cleantech award Entrepreneurial Mindset’, will focus on young entrepreneurs and those who can help them to turn their ideas into viable businesses while also examiningA German startup won the 2013 In conjunction with GEW, the annual Ivo Josipović,Cleantech competition competition brings early-stage startups with breakthrough cleantech ideas to Silicon President of Croatia the best formal curricula and the moreECF Farmsystems, a German startup that Valley to compete for a chance at more than popular experiential education programs for startups.builds aquaponic farm systems that enable $100,000 worth of startup services.resource-efficient fish and vegetable Croatian President Ivo Josipović is the high patron ofproduction in urban environments, took first ECF Farmsystems beat 28 teams from GEC2. When he met with Jonathan Ortmans, GEWplace in the Cleantech Open Global Ideas around the world in a keenly contested 2013 president, he explained he was worried aboutcompetition. competition. the“inadequate entrepreneurial mindset of Croatian citizens”. He saw the need for change and expressed a GEW 2013 Policy desire to push the concept of enterprise amongst young Sur vey people and legislators. Entrepreneurship is, according to President Josipović, the bedrock upon which a stronger Every year the survey asks Croation economy can be built. entrepreneurs around the worldGlobal to help us track changes in policy The organisers of GEC2 are hoping that it will encourageEntrepreneurship towards enterprise in their own young Croatians to start their own businesses as theyCongress countries are inspired by other young entrepreneurs from around the world coming to Croatia for the congress. They alsoThe Global Entrepreneurship The fact that GEW is now operating in over 140 anticipate that GEC2 will widen the internationalisationCongress (GEC) is a countries around the world is proof that the of existing Croatian businesses as they mingle withgathering of entrepreneurs, startup movement is gaining traction. Even in their peers from overseas. Finally, they are confidentinvestors, researchers, thought countries that were traditionally seen as less the congress will help to accelerate the change inleaders and policymakers, supportive of enterprise, like Venezuela or Iran, curriculum needed amongst educators in relation toall working together to help strong entrepreneur-led startup communities entrepreneurship.bring ideas to life, drive are developing.economic growth and expand As Katarina Jagic, President Croatian Small Businesshuman welfare. Over the These communities are made up of a new Union / GEC2 Croatia Host says:“GEC2 will challengepast six years, GEC has generation of pioneers motivated by intellectual communities around the world to join young Croatianscontributed to the expansion curiosity, an appealing startup culture, social as they take their ideas to the next level, such as joiningof a global entrepreneurial responsibility, job shortages or economic the ‘SME Friendly Local Communities’ Global Network’.ecosystem, connecting opportunity. We believe in SMEs, we believe in young people and weexperts and entrepreneurs believe they can change the world.”across borders and sectors GEW is encouraging governments aroundto unleash their ideas and the world to prioritise entrepreneurship and GEC2 EVENT HIGHLIGHTStransform innovation into the emergence of “startup acts” and “startupreality. policy advisors” in many governments is early Zagreb 10x10 Winners evidence of its success. But for governments 24 September:See more at www.gec.co to be smarter about how they help, they need 21 September: GEC2 Regional Impact better data, research and analysis to identify Welcome reception by the Summit; and respond to the real barriers to startups. The Mayor of Zagreb City Launching ‘A NewYouth annual GEW Policy Survey helps to provide that 22 September: Movement’ from 10x10; data. GEC2 Policy Summit: GEW hosts’ meeting; Graduating Entrepreneurial Seminar: ‘Social The GEW 2013 Policy Survey suggests a Minds, Avenues For Entrepreneurship’ number of interesting differences among Experiential Learning, statements, regions, and nations and you can read New Dimensions In Split the report in full at www.gew.co/resources. Entrepreneurship Education; 25 September: Launching global Welcome reception with campaign: ‘Mindset’ the Mayor of Split 26 September: Dubrovnik B2B meetings; Creativity Day: Creative 23 September: projects’ presentations Gala dinner & awards for GEW Magazine Page 5
Event - GEC 2015 GEC 2015Say buongiorno to MilanMilan is getting ready for next year’s Global Entrepreneurship Congress (GEC),the global showpiece for enterprise SNAPSHOT GEC 2015 Venue: Milano Congressi, Milan, Italy Dates: 16th - 19th March 2015 Hosts: Global Entrepreneurship Week, META Group & the Kauffman Foundation Web: www.gec.co www.meta-group.com Follow: # GEC2015 In Milan, you can: • Gain insight from • Participate in events on leaders on ecosystems various issues relating that encourage to innovation, from entrepreneurial crowdfunding to angel growth and innovation investing • Network with • Brainstorm about delegates from over overcoming 130 countries challenges • Learn from successful • Receive guidance on entrepreneurs and capacity-building skills incubators, support • Understand the Italian programs and entrepreneurial investors ecosystemMilan is the vibrant venue for GEC 2015 in March Endorsed by the Italian Ministry of Economic a permanent process of challenge based on Promotional Feature. © Copyright (2014) of Watershed Media Ltd. Development, the Italian Ministry of Foreign innovation.Towards the end of Expo 2015 and just a Affairs and the Italian Ministry of University few months after the Italian presidency and Research, META Group addresses policy “While the types of events and activities held of the EU, Milan will host GEC 2015 decision makers and is committed to fostering during GEC 2015 vary widely, they all share a and show the world what Italy has regional competitiveness leveraging on innovation common thread: how to empower entrepreneursdone, and is doing, for entrepreneurs. This is an and entrepreneurship. and to enable them to start and grow firms thatinterdisciplinary gathering of startup champions create jobs and improve lives.from around the world, where entrepreneurs, The independent company supportsinvestors, researchers, thought leaders and entrepreneurs keen to start up or further We are looking for innovative ideas andpolicymakers work together to help bring ideas develop a new company, researchers interested problem solvers, able to convert challenges intoto life, drive economic growth and improve human in capitalising on their findings and early stage opportunities. We are looking for ideas to makewelfare. investors looking for fresh and potentially lucrative Milan, and every city in the world, smarter and deals. more competitive cities” says Anna Amati.The event will be hosted by META Group who is“the premier international investment and advisory To date, META Group has assisted over 50 regions Follow us on #GEC2015group, with a pioneering integrated approach to worldwide to boost their economies, throughfoster knowledge-intensive entrepreneurship atmacro and micro scale,” explains Luigi Amati, CEO. Meet us in Milan Luigi Amati, CEO of Anna Amati, Vice Andrea Di Anselmo, Emma Fau, Head Jacek Blonski, Johan Gorecki, Alessia Lars Iversen, META Group President of META Vice President, of Brussels office Director CEE Global Sales Melasecche, COO Director Group and Country Global Sales and Region ScandinaviaPage 6 GEW Magazine Manager for Italy Director for MENA Region Region
Invitalia A word of support Invitalia is the Italian Like you, the Italian government is a strong advocate national agency for of enterprise promoting foreign direct investment Stefano Firpo, Chief of the An environment that does not result of measures the Italian and enterprise Italian Minister of Economic drain your energy and time government introduced in 2012 development. It is Development’s Technical with red tape and unreasonable through its Startup Act designed the single reference Secretariat taxes. to boost new innovative point for foreign companies. investors eager to “We believe that new innovative Legislation that allows you expand or to set up a high-tech businesses have to hire workers with flexible In less than two years, more new business in Italy a great role to play in our contracts and to remunerate than 2,500 startups wereDomenico Arcuri, CEO of Invitalia by providing a full future wellbeing. If you are an them with variable pay as well created thanks to this initiative. spectrum of services innovator eager to set up a new as tax free stock options and You should join them.in all stages of the investment process. groundbreaking business, you work for equity packages for should be seriously considering employees, administrators and Come to Milan for GEC 2015Entrusted by the Italian government, Invitalia provides Italy as the home for your new external consultants. and you will see that thetailor made support services and is committed to enterprise. country famous for being theglobally promoting Italy’s competitive advantage, to A financial framework that helps cradle of the Roman Empire,boost innovation local industrial development and local Here is a legal system that lets your business attract money the Renaissance and the Greatcompetitiveness. you register your brand new easily, in exchange for shares Beauty is now specialising in company quickly, online and at or through crowdfunding with nurturing baby companies withInvitalia’s inward investment arm invites business the lowest cost possible. robust tax relief that benefits the DNA of giants.opportunities and works hard for the success of each your investors and where banksinvestment project. Invitalia also supports public are encouraged to lend through We are waiting for you.” saysadministrations on the implementation of development public guarantees on credit. Stefano Firpo. A strongprograms, including cultural heritage promotion and supporter of entrepreneurship,the conversion of declining industries sectors in specific As importantly, an ecosystem Fripo graduated in Politicalterritories. that does not stigmatise failure Science at the University thanks to business-friendly of Turin and InternationalInvitalia manages a number of grants and incentives that bankruptcy laws. Economics at the Londoncover a wide spectrum of needs, from startups to large School of Economics beforemultinationals, including: Italy has become a remarkably joining the European Central friendly country for high- Bank and then the Intesa• Development contract tech startups. Everything I Sanpaolo Banking Group.A measure aimed at financially supporting large-scale have just described is theinvestment projects in three sectors: industrial, tourismand commercial. Be a sponsor...• Smart & Start Contact Dario Mazzella, Project “GEC 2015 is using a dedicated Our platform will be an openThis initiative finances startups focusing on digital Manager for GEC 2015, at innovative online platform place where proposed solutionstechnologies, innovation and exploitation of IP and www.gec.co or at to identify up to 10 global can be evaluated and ideasresearch results. A very flexible programme, it suits www.meta-group.com challenges, and to share shared before the most effectivedynamic startups and operates in Calabria, Campania, them, with the entrepreneurial policies are adopted by the localPuglia, Basilicata, Sicily, Sardinia and around L’Aquila. community all around the world. authorities and cities attendingFrom 2015 it will cover the entire country. the congress. We want to raise awareness,• Interest free enterprises to share experiences and to If you are interested inA brand new scheme to encourage self-employment develop solutions that can drive sponsoring or partnering withby supporting young people (aged 18-35) and women business and make the world a GEC2015, we want to hear fromlooking to set up a business with interest free loans of up better place. you” says Dario Mazzella.to 1 million euros. “ We believe that new innovative• Patents+ high-tech businesses have aPatents+ provides incentives to increase patent great role to play in our futureapplications, to defend intellectual property and to wellbeing” Stefano Firpoincrease the economic value of SMEs patents.“Invitalia is strongly committed to providing support forentrepreneurs willing to set up business in Italy and welook forward to meet the talented ones that will participatein GEC 2015 in Milan. There’s a whole system of policyinstruments waiting to be deployed in their favour” saysDomenico Arcuri, CEO of Invitalia. GEW Magazine Page 7
Event - CBC 2014Creative Business Cup 2014This is where the world’s best creative startups share ideas, thoughts andopportunities to unleash their full potential WHO ARE THE CREATIVECreative Business Cup (CBC) entrepreneurs, think what entrepreneurs successful than other entrepreneurs when it INDUSTRIES? is a global competition for from the creative industries can do for your comes to developing a profitable business entrepreneurs from creative company and for society.” model. They often need assistance in • Advertisingindustries. Every year, the best companies accessing financing as well as mentorship • Architecturefrom each country compete against Innovation driven by people with creative to teach them basic business skills. Those • Arts & craftseach other at the international finals in skills - creative entrepreneurs - is a major who do succeed become LEGO, Disney, • DesignCopenhagen in November during GEW. engine for growth. According to the 2010 H&M and Cirque du Soleil. • FashionThis year more than 60 countries will be European Competitiveness Report, the • Film, video & photographyrepresented. creative industries show higher growth It is also a fact that society must constantly • Gastronomy rates than average and contribute to around find new ways to solve its biggest • LeisureCBC attracts investors looking for 3% of the EU’s GDP. Moreover, they provide challenges. Creative entrepreneurs • Musicopportunities in the creative industries quality jobs to around 6.7 million people contribute to innovation not only in their • Publishingand is a space where companies can across the EU. own industry, but also in all other industries • Radio & Televisionfind new innovative solutions. As Rasmus and traditional sectors become more • Software, computer gameWiinstedt Tscherning, Managing Director But this is far from their full potential. Studies competitive when collaborating withCBC says: “Don’t think what you can do for show that creative entrepreneurs are less creative companies. & electronic publishing • Toys & Games • Visual & performing artsTHE INTERNATIONAL JURY 2014• Dhakshinamoorthy “Dash” Balakrishnan • Simone Brummelhuis (The Netherlands), • Indrek Kasela (Estonia), investor. Officer, Serial Entrepreneur, 41!29?. partner, Sisters Capital. Promotional Feature. © Copyright (2014) of Watershed Media Ltd. (Malaysia), venture catalyst and founder of Entrepreneur & Advisor, The NextWomen. • Stiven Kerestegian Ganarillas (Chile), Senior • Flavia Simon (Brazil), Head of Consumer • M ei Tong (China),Vice President of Mergers StartupMalaysia.org. • Amy Cosper (USA),Vice President/Editor in Manager, LEGO. Marketing, Google. & Acquisitions and Strategy,Walmart.• Scott Blackwell (USA), Academic Lead for Chief, Entrepreneur magazine. • Julie Meyer (UK), Chairman & Chief • Christian Stadil (Denmark), owner, Thornico • Liz Wald (USA),Vice President International, Western Europe at Microsoft. • A nikken Fjelberg (Norway), co-founder and Executive, Ariadne Capital. A/S. Indiegogo.• Christina Boutari (Greece), Marketing Strategic Director at Superblaise. • Håkan Nordkvist (Sweden), Head of • Daniela Terminel (Mexico),Vice President for • Ted Zoller (USA), Director, UNC Center for Director & Exports Manager at Boutari Wineries S.A. • Edward Jung (USA), founder, Intellectual Sustainability Innovation, IKEA. EMEA, Endeavor. Entrepreneurship & Senior Fellow, Kauffman Ventures. • A lemsah Ozturk (Turkey), Chief Happiness • Halla Tomasdottir (Iceland), founder & lead Foundation.WHAT IS CBC? November, these national champions compete around the world. The international finals are a against each other in Copenhagen for the title of feature of GEW, as Thom Ruhe, previously ViceCBC is unique. Its global network and marketplace World’s Best Creative Entrepreneur. President of Entrepreneurship, Kauffman Foundation,allows creative entrepreneurs to scale their business USA and CBC jury member 2013, notes:concepts, connect with investors and partners and Naturally, the finals attract a large and diverse groupboost their potential by bringing them all together in of entrepreneurs, organisations and policymakers “There are over 35.000 events happening in 140one worldwide competition. who can participate in workshops, be inspired, meet countries during GEW. There are about five that are investors and attend the CBC award show. marquee premier events, and this is one of them.”Although CBC supports the most talented creativeentrepreneurs all year round, the focus is the annual CBC is designed to lift the entire ecosystem for Learn more and get involved acompetition which starts with each participating creative entrepreneurs by helping them to grow their www.creativebusinesscup.comcountry selecting their best creative startups. In businesses globally and to unleash the full potential of their innovative solutions in all industries. It’s a 92% of last year’s participants global movement supported by investors, media, recommend the CBC to others organisations, policymakers and governmentsPage 8 GEW Magazine
The world’s best creative Event – Cleantech Open Global Ideasstartups in 2013 CLEANTECH OPEN GLOBAL IDEAS The search for this year’s most innovative clean technology ideas is on HRH Prince Joachim of Denmark awarding first prize to Teddy the Guardian ECF Farmsystems at the 2013 Cleantech Open Global ForumFirst prize:Teddy the Guardian, CroatiaTeddy the Guardian is a plush teddy bear with embedded sensors thatmeasure a child’s heart rate, blood pressure, oxygen saturation and bodytemperature. The sensors use wireless technology to send this data to a parent’ssmart phone or directly to a paediatrician. leantech Open Global Ideas organisation based in Silicon is a truly global search for“The Creative Business Cup experience motivated us, as team, to adopt and clean-technology ideas that Valley, Cleantech Open providesapply creativity as an approach to every aspect of business development the replace the polluting energy, water,company has been experiencing. CBC does make you aware of the world’s most building and transport systems the infrastructure, expertise andcreative projects, challenges you to offer the best your business has got to offer of yesteryear. A part of GEW, thisand lets you discover new aspects of the industry.” annual competition sees startups strategic relationships that turn from around the world contendingAna Burica, co-founder of Teddy the Guardian/Iderma, Croatia for national awards and then for clever ideas into successful global the Global Ideas Prize itself at the spectacular Cleantech Open Global cleantech companies. Through its Forum in San Francisco (November 12 - 13). one-of-a-kind annual accelerator Since 2009, 39 countries have and mentorship program, almost participated in Cleantech OpenSecond prize: Global Ideas, with last year’s 900 participating companies in theKinematics, Germany award going to ECF Farmsystems technological invention that allows real- from Germany for its innovative United States alone have raised aKinematics and HRH Prince Joachim of Denmark time interaction with animated figures. aquaponic farm system, a next-in an enthusiastic conversation Cinema dell’Arte sits at the intersection generation urban fish and vegetable total of more than $950 million and between technology, interaction, design production solution.Kinematics is a modular robotic and storytelling. created thousands of jobs. Fueledconstruction kit consisting of kinetic Other global winners havemodules and adaptor blocks which can developed solutions that clean liquid by a global networkbe connected freely and without the industrial waste, provide sustainableneed for cables. Kinematics is suitable manufacturing in the chemicals of over 2,000for children age six and up. iinndcuosntsrytr,uccuttiocnosatnsdanpdroCdOuc2eemenisesrgioyns from micro-algae. To find out more volunteers,“The network from Creative Business about Cleantech Open GlobalCup might be helpful in the future “We entered the Ideas or to join our growing global partners andregarding distribution partners or in community of innovators visitterms of finding new investors.” competition as a www.cleantechopen.org/ideas sponsors,Matthias Bürger ManagingPartner & co-founder, Kinematics, creative start-up with The world’s largest cleantech CleantechGermany accelerator an artistic approach Cleantech Open finds, funds and Open unitesThird place:Cinema fosters entrepreneurs with bigdell’Arte, Denmark to our work. Thanks ideas that address today’s most the public urgent energy, environmental andCinema dell’Arte is the rebirth of to CBC we started to economic challenges. A non-profit and privatetheatre and animated film and a look at ourselves as sectors in a a technology shared vision company instead for making of an artistic the sector company (at least a thriving Jakob Balslev wearing from a business and economic their motion capture organisational point suit pitching at the engine international final of view). We had to around the Trond Unneland, Chevron Corporation, at the in Copenhagen build and develop world. Cleantech Open Global our own technology in order to make it GEW 2014 Forum possible for us to make the projects that This year will see even more we wanted. We already had the idea for countries join Cleantech Open our own motion capture suit and with the Global Ideas as more innovators confidence and business mindset we got tackle our biggest global problems. from CBC we could actually go out and As part of its expansion there will make our dream come true.” be a new global initiative focused Jakob Balslev CEO & co-founder, on women-led cleantech ventures Rokoko / Cinema dell’ Arte, Denmark during GEW 2014. GEW Magazine Page 9
Event - Get in the Ring Get in the Ring features 2,000 startups from 64 countriesGet in the RingThe Olympics for startupsOver 2,000 startups from 64 countries will slug it out in a global investmentcompetition to become world championStartups are like rock stars – they need fans if With GITR, two startups face off against each Four champion investors and an audience of Promotional Feature. © Copyright (2014) of Watershed Media Ltd.they’re going to be successful. That’s exactly other in the ring. During five brief rounds they business angels, VCs, entrepreneurs and captainswhere Get in the Ring (GITR) can help. present their startup to a jury of champion of industry will decide who will win the title of investors, together with a global audience of World Champion and take home the covetedInitiated by the Erasmus Centre for potential investors and fans, in a competition that championship belt and, hopefully, an investment.Entrepreneurship (ECE), GITR puts startups in can result in significant investment for the finalists.the spotlight, giving them a global podium from A different final every yearwhich they can connect with investors and create To date, over 3,000 startups have participated As the competition grows in popularity, so dofan bases. in GITR and the 16 international finalists have plans for the event and there is a desire to hold secured over €6 million in investment. The the final in a different city each year. Elbert Stoof,“Jumpstarting your business is no longer only competition itself is also a winner, receiving Project Manager GITR says “We are looking intoabout friends, family and fools” says Hendrik international awards such as the European the opportunity to move the international finalHalbe, founder of GITR. “We introduce a fourth Enterprise Promotion Awards for supporting around the world, just like the Olympic Games. ToF: fans who can invest their knowledge, network, the internationalisation of business. It has also date, three countries have already applied to bringfunding and time in a startup.” been chosen as a featured event in Global the GITR international final to their entrepreneurial Entrepreneurship Week. hubs.”An exciting pitching conceptWe live in exciting times for entrepreneurship World Champion Every year the number of regional competitorsin which – thanks to such tools as crowdfunding This year, over 2,000 startups will try to survive increases – there are twice as many in 2014- anyone can be a startup fan. But while most two selection rounds to reach the international as there were in 2013 – and so interest in thecurrent pitching formats just don’t capture this final in Rotterdam, on November 21st. Through international final is growing too and this is asense of excitement, GITR does. “It’s famous for its national selection rounds in over 64 countries testament to the quality of this unique pitchingunique pitching concept - we challenge the status- and finals in each region of the world, only the concept and competition.quo” said Halbe. eight most promising pitches will make it to the international final.Page 10 GEW Magazine
CHAMPION INVESTORS2012 World Champion Barbara Labate, founder of Every year, champion investors visit the Chairman of Tradeshift Ltd.) and Howard LindzonRisparmio Super, sporting her championship belt competition looking for the world’s most (co-founder and CEO of StockTwits). promising startups. In the past, investors such Erasmus Centre as Rachel Elnaugh (Dragons’ Den UK), Bala In November 2013 Ingrid Vanderveldt, for Entrepreneurship Kamallakharan (founder of Startup Iceland), Entrepreneur-In-Residence at Dell, participated Mark Ecko (founder and Chief Creative Officer as a champion in the international final and she Erasmus Centre for Entrepreneurship (ECE) of Marc Ecko Enterprises) and Frank Peters liked it so much that she joined the advisory is an initiative from Erasmus University (angel investor) have all participated. board. She commented in an interview last Rotterdam which aims to empower a global year: “Get in the Ring is the most fantastic startup community of entrepreneurs who are The jury of this year’s international final includes competition I have ever been part of and this able to solve challenges and make global Morten Lund (CEO of Everbread Ltd. and Dutch initiative beats a lot of big startup initiatives impact. around the world.” You can read more about ECE at www.ece.nl Join GITRGlobal partners The GITR team celebrating the success of the 2013 championshipSaudi Telecom Company If you’d like to find out more about the battle, apply For updates on the competition, simply like theSaudi Telecom Company (STC) is the competition’s Facebook page at ’Get in the Ring: The Investmentvery first global partner. This is a company with more for a national competition or find out how to bring Battle’ or follow it on Twitter @GITR_GEWthan 30 million customers in Saudi Arabia and almost it to your country, visit www.gitr.co or email143 million around the world making it the largest Elbert Stoof - [email protected] service provider in the Middle East. WINNERS“It is very exciting to partner with the Get in the Ringinitiative. I am certain it will prove equally exciting for In 2012 the first winner of the international edition of GITR was Italian startup Risparmio Super,young startups with innovative concepts and sound which compares grocery and web-shop prices and tells you where to shop.plans. We truly believe this competition will help fuel thepassion for achievement and innovation among more In 2013, U.S. competitor Toby Rush’s EyeVerify beat 1,000 other startups to take the top prize.people in the region,” says STC’s Senior Vice President Rush praised the GITR concept as an excellent way to gain international recognition and to get inof Technology and Operations, Dr. Khaled Biyari. contact with investors. He called it “the Olympics for Startups.” EyeVerify is a software and mobile“The Middle East region offers unlimited potential to application that created a biometrics security system relying on the blood vessels in the whitesthe global economy. Through this competition, we can of the eyes.demonstrate our value on a global stage.“ If you think you have what it takes to join these winners, simply apply now at www.gitr.co“ Get in the Ring is the most fantastic startup BDO APM Terminals competition I have ever been part of and this “At BDO we find it important that startups have In joining GITR, APM Terminals has its eye on Dutch initiative beats a lot opportunities to show the world what they’ve of big startup initiatives got and this competition is a perfect way to innovation in the port and container terminal around the world” says do that. BDO is proud that it is supporting this Ingrid Vanderveldt, competition” says Marc Groenen, partner at BDO. industry. This is why they will be presenting a Entrepreneur-In- Residence at Dell new award, the APM Terminals Innovation Prize, for the most promising startups in their industry. GEW Magazine Page 11
OpinionScaling the entrepreneurialmindsetby Jonathan Ortmans, President, Global Entrepreneurship Week;Senior Fellow, Ewing Marion Kauffman Foundation High impact startups are now talk about changing the world. springing up in the most There is data from a Kauffman unexpected corners of the Foundation study done just world. Developing GEW over before GEW last year the past decade on behalf of that suggests that the Kauffman Foundation has allowed me entrepreneurship to visit entrepreneurs and those who help is viral. Once that them launch new ventures and take them mindset is rooted to scale in nearly 100 countries. If we can in an ecosystem, make progress in challenging societies it spreads. Not like Iran and Venezuela, the opportunities surprisingly, to establish entrepreneurial capitalism in policymakers more open economies is low hanging fruit around the world ripe with potential. have taken note and are rushing What successful startup communities to figure out have in common is a more sophisticated how to remove entrepreneurial mindset — a common set barriers to of underlying beliefs and assumptions that entrepreneurship make them more likely to succeed in the in their face of limited resources and challenging communities and circumstances. For example, increasingly countries. GEW they seek mentorship and connections and the year-round ahead of direct asks for financing. They network it has spurned see themselves as problem-solvers first is trying to help them. and business people second. As founder teams they prize starting lean, failing fast For example, last November, and the iterative process of getting it right 126 heads of state and ministers over rigidly adhering to business plans. from 69 countries participated And, best of all, while their immediate task may be as mundane as a new App, theyGEW 2014 Participating Countries Promotional Feature. © Copyright (2014) of Watershed Media Ltd.a Albania Bahrain Botswana Chinese Taipei Dominican Republic Germany Indonesia Algeria Colombia Iran Andorra Bangladesh Brazil Congo, Democratic e Ecuador Ghana Iraq Angola Republic of Ireland Antigua Barbados Bulgaria Costa Rica Egypt Greece Israel Argentina Cote d’Ivoire Italy Armenia Belarus Burkina Faso Croatia El Salvador Greenland Jamaica Australia Cyprus j Japan Austria Belgium Burundi Czech Republic Estonia Grenada Jordan Azerbaijan d Denmark k Kazakhstan Belize c Cambodia Dominica Ethiopia Guatemala Kenyab Bahamas Benin Cameroon f Finland Guyana Bermuda Canada France h Honduras Bhutan Cape Verde g Gabon Hungary Bolivia Chile Gambia i Iceland Bosnia & Herzegovina China Georgia IndiaPage 12 GEW Magazine
“What successful startup communities have in common is a more sophisticated entrepreneurial mindset — a common set of underlying beliefs and assumptions that make them more likely to succeed in the face of limited resources and challenging circumstances.” in GEW – speaking at events, filming paucity of data around what works and statements of support and endorsing what does not in supporting nascent the national campaigns in their entrepreneurs and new firms preparing countries. Nations who care about to scale. The challenge now is to figure better leveraging the economic out how best to instill this entrepreneurial potential of new firm formation mindset in more people from every are hiring entrepreneurship background, culture and discipline. policy advisors with roots in startup communities This magazine profiles some of the efforts and bringing them to scale the promotion of entrepreneurship in-house. The results around the world. We must scale these of this convergence of efforts in pursuit of embedding the actors are reflected entrepreneurial mindset in more of our in legislatures, for citizens while at the same time always example, adapting viewing our methodology in this endeavor financial regulations as experiments after which we collect data to give crowdfunding and results and implement adjustments. a role in capital Like any other field it will only be through markets, or in scientific methodology that we can unleash revisiting frameworks the true potential of more of our citizens for immigration policy, as entrepreneurs and empower them to regulatory issues and lift their fellow citizens out of poverty, build intellectual property. vibrant new economies and solve the This globalisation of world’s greatest challenges. entrepreneurship has brought an exciting explosion of programmes, startup communities and investments but exposed new gaps in our knowledge showing a Korea Malta Nepal Peru Sierra Leone Swaziland Ukraine Kosovo Mauritius Philippines Singapore Kyrgyzstan Mexico Netherlands Poland Slovakia Sweden United Arab Emiratesl Latvia Moldova New Zealand Portugal Somalia Lebanon Monaco Nicaragua q Qatar South Africa Switzerland United Kingdom Libya Mongolia Nigeria r Romania Spain Lithuania Montenegro Norway Russia Sri Lanka t Tajikistan United Statesm Macedonia Morocco o Oman Rwanda St. Kitts and Nevis Madagascar Mozambique p Pakistan s Saint Lucia St. Vincent and the Tanzania Uruguay Malaysia Myanmar Grenadines Thailand v Venezuela Mali n Namibia Sudan Togo Trinidad and Tobago Vietnam y Yemen Palestinian Territories Saudi Arabia Tunisia z Zambia Panama Senegal Turkey Paraguay Serbia u Uganda Zimbabwe GEW Magazine Page 13
GEW 17 Nov - 23 Nov 2014 UK Bridging the gap between aspiration and achievement Although entrepreneurship is very much in vogue in the UK,Youth Business International feels there is still a lot more to be done to help the next generation of business creatorsRwanda A live-painting representing Rwanda’s thriving In the UK, politicians, the media and The week in the UK entrepreneurship ecosystem, created by GEW participants business leaders are all showing In the UK, GEW will be hosted by intense interest in today’s business YBI in partnership with Barclays.Renewal through creators. Barclays supports both YBI and GEWresilience as part of their 5 Million Young Futures As a result, there is increased support commitment (seeInstead of admitting defeat the country resiliently fought for for entrepreneurs, particularly www.barclays.com/5MYF) to helpremembrance and reconciliation through the Start Up Loans scheme, the next generation achieve their but there is a feeling that it is not as ambitions through programmesSince the 1994 genocide, Rwanda has continue the country’s development ingrained as it could be amongst focused on enhancing enterprise,made monumental progress and shown agenda. They intend to keep driving young people. While there is a employability and financial skills.its irrepressible spirit to the world. the nation towards entrepreneurialism rich resource of skilled youth whoFundamental to its entrepreneurial and are rewriting the story of Rwanda dream about starting a business and The objective of GEW is to bridgesuccess is a strength of character few in the process - changing perceptions unemployment is falling (although the gap between aspiration andother nations could match. about the African continent by proving nearly one million young people are achievement by making the UK a truly that growth, stability and innovation can still unemployed in the UK), too few entrepreneurial country in which to all be found in the heart of Africa.” of them are actually doing live and work. anything about it. Babson-Rwanda EntrepreneurshipNew regulations and recent Center Research shows one ineducation reforms have created a The Babson-Rwanda Entrepreneurship five UK people considerperfect environment. In the Heritage Center (BREC) is a unique partnership themselves to beFoundation’s 2014 Index of Economic between Babson College in the USA potential entrepreneursFreedom, Rwanda scored five points and the Private Sector Federation of but only one in 27higher than the world average and ten Rwanda. BREC aims to expand the actually starts a business,points higher than the regional average. country’s entrepreneurial ecosystem which puts the UK farIn the World Bank’s 2014 Ease of Doing and to help it reach its development behind countries such asBusiness report, it was ranked ninth – goals by training the country’s next Singapore and China.the only African country to make it into generation of leaders to providethe top ten. economic and social value for their Youth Business communities.Part of this success comes from the fact International Andrew Devenport, Chief Executive,that in 2008, entrepreneurship classes The week in Rwanda Youth Business Youth Business Internationalwere made mandatory in secondary GEW in Rwanda aims to provide all International (YBI) isschool. The result is that students citizens with an understanding ofgraduate with the skills to start and run how they can become job creators a global network of not-for-profit The theme in 2014 is ‘Get Connected’their own businesses. instead of job seekers. There are lots of organisations that are helping young with a concerted effort towards giving events planned to link entrepreneurs, entrepreneurs build successful and each entrepreneur the support,“The country’s leaders clearly policymakers and business support sustainable businesses. It does this networks and advice they need to Promotional Feature. © Copyright (2014) of Watershed Media Ltd.understand that in order for Rwanda’s organisations with the unemployed by giving them access to capital, make their business a success.rapid growth to continue, young people and thus help them turn their business business development servicesmust have the skills to become job dreams into realities.creators instead of job seekers” says and experienced mentoring. It wasRayshawn Whitford, Country Director, GEW host organisation: Babson-Babson-Rwanda Entrepreneurship Rwanda Entrepreneurship Center founded by The Prince of Wales and, GEW host organisation:Center. “Entrepreneurs and policy in 2013,YBI helped to start over 14,000 Youth Business Internationalmakers are at the heart of this push to new businesses around the world. Impact of GEW 2013Impact of GEW 2013 Country UK Activities 3,240Country Rwanda Partners 633Activities 50 Participants 347,000Partners 50 Details http://uk.gew.coParticipants 7,500Details http://rw.gew.coPage 14 GEW Magazine
Denmark Another generation of achievers Denmark is instilling a sense of enterprise in its young people from an early age and it is paying dividendsDanish Entrepreneurship Award 2013 – In a far-thinking move, the Danish government introduced In fact, next year innovation and entrepreneurship willall the winners on stage. a reform agenda and has begun a range of measures to become compulsory elements in all primary schools. stimulate growth and job creation. A significant part ofToday’s heroes in Denmark are the passionate this is a focus on innovation and making entrepreneurship The week in Denmarkentrepreneurs who founded flourishing global a cornerstone in the education system. There is a clear GEW is growing in Denmark with more than 250 eventsbusinesses such as LEGO, Skype and Danfoss. Success understanding in Denmark that the greater the number this year. The biggest, the Danish Entrepreneurshipstories like these have not come about by accident but of young people who leave the school system with Award, will see 5,000 young entrepreneurs gathering toare the result of a spirit of creativity and entrepreneurship entrepreneurial and innovative skills the more positive the participate in workshops, learn from business mentors,that has been fostered in young Danish people from contribution to the country’s growth will be. compete for prizes and be inspired by guest speakers.an early age. Danish Foundation for Entrepreneurship - GEW host organisation: Danish Foundation forThe Danes have a national recognition that Young Enterprise Entrepreneurship - Young Enterpriseentrepreneurial skills and the capacity for constant The foundation has found that young adults who haverenewal, development and improvement are more been trained in entrepreneurship have higher ambitions Impact of GEW 2013important now than ever before, especially in the face of for their future education and careers and they start moregrowing international competition and in the wake of the businesses than others. Country Denmark2008 financial crisis. Spreading entrepreneurship throughout all levels of the Activities 257 education system, these original thinkers have put it on the agenda with policy makers and educational leaders. Partners 33 Participants 42,607 Details http://dk.gew.coQatarMilestones on a roadmap to developmentQatar recognises the importance of an educated, inspired, enterprising A local dhow passes in front of theworkforce to a prosperous future for the sovereign state city’s gleaming new skylineNatural resources brought great success based economy and a strong, vibrantto this small state but Qatar recognises that generation of enterprising business peoplethis reliance is not sustainable in the long will help to ensure that this economicterm. That’s why a development plan, Qatar modernisation is both sustainableVision 2030, was developed. A plan for and effective.modernisation, it promotes developmentbased on economic diversification through Silatechhigh value knowledge services. Silatech is a regional social initiative that works to create jobs and expand economicWhat this means is that that there is an opportunities for young Arabs. It promotesawareness that ambitious, educated people large-scale job creation, access to capitalare crucial to a bright future for everyone. and markets and the participation andThis has led to a heavy investment in a engagement of young people in economicworld-class system of higher education and social development.which will develop the capabilities of Qataris. The week in QatarTo help, the government has simplified Last year, GEW drew in almost 3,000processes, opened greater access to participants at over 60 separate events. Thisfinancing and provided support services for year, Qatar has raised its sights even higherstartup businesses. A recent Silatech-Gallup and is determined to provide its aspiringstudy found that one-third of young Qataris entrepreneurs with the tools and knowledgeplanned to start their own business within the they need by linking them with rightnext year, which is the highest percentage in organisations and mentors, by conveningthe Arab world. local entrepreneurs to discuss regulatory and financial policies and to raise awarenessThe country is in a period of significant of the rewards of enterprise among thechange as it evolves from a natural resource country’s youth.Impact of GEW 2013 GEW host organisation: SilatechCountry QatarActivities 62Partners 33Participants 3,900Details www.gew-qatar.com GEW Magazine Page 15
GEW 17 Nov - 23 Nov 2014 Large cities vibrate with noise but, if you listen carefully, you can hear a new buzz of excitement rising across Turkey With an estimated population understand that their legacy lies of 77 million, Turkey is not only in the performance of their the bridge between two companies, but also in how they continents, where east meets west, exercise their influence. a dynamic marketplace featuring a well-educated young population and Endeavor recently conducted a series of growing middle class. It is also a country studies to explore relationships across in the middle of a political and cultural tech startups over time and tracked renaissance which makes this the perfect five fundamental behaviors: inspiration, time for visionary entrepreneurs to invest mentorship, investment, startup work in Turkey. experience and serial entrepreneurship trends. Over the past decade, throughout Turkey, discussions about entrepreneurship have The study showed a very robust level taken place. These conversations have of interaction in Turkey: first generation spread out from Turkey’s commercial technology entrepreneurs are involved center of Istanbul to its policy center in in 63% of the next generation of startup Ankara and, more recently, to the fertile investments, 46% of these first generation heartlands and beautiful coastlines. The investors serve as mentors while another country has fully embraced high impact 45% of them serve as board members entrepreneurship as the most critical for new companies in their investment driver for innovation, job creation and portfolios. economic development. Perhaps the most compelling stimulus for Of the 220 startups who participated in enterprise is the high level commitment the survey, the founders of three to dialogue amongst both public and companies - MyNet, Pozitron (now private entrepreneurship support organisations and stakeholders. Initiatives Monitise) and Yemeksepeti - interacted like the annual GEW play an instrumental with over 105 startups as role models, role in this. former employers, mentors and investors.Turkey A new generation is helping to revitalise In a true spirit of entrepreneurship, Among these “high impact Istanbul’s retailing heritage. this talk is being converted into entrepreneurs turned high impact action through initiatives like ‘START leaders” is Arda Kutsal, the founderTurkey’s new ISTANBUL’ which promotes the city of Webrazzi, Turkey’s leading techentrepreneurial as a tech hub, ‘ISTANRUE’ highlights news portal. Webrazzi also hosts six of its potential as a retail and services Turkey’s most prominent international Promotional Feature. © Copyright (2014) of Watershed Media Ltd. mecca, ‘SPRINGBOARD’ emphasises tech entrepreneurship and networking Turkey’s role as a platform for investors conferences. and multinationals and ‘INNOVATION RING’ features the launch of technology Kutsal says “Entrepreneurship is parks, innovation centers and technology becoming more attractive in Turkey transfer offices across Turkey. thanks to the increasing availability ofbuzz 50 local VCs, 250 certified angel investors, According to QI 2014 Telecommunications 5 angel networks, more than 20 Sector Report from Turk Telekom, InternetImpact of GEW 2013 subscription in Turkey has increased from incubators, 50 technoparks and 10 6 to 35 million since 2008. Turkey also hasCountry Turkey technology transfer offices supported by both government and private sector 71 million mobile phone subscribers.Activities 185 funding. local and international funds as well asPartners 200 government incentives in recent years. START ISTANBUL: But ecosystem growth also dependsParticipants 80,000 the engine behind a new a lot on the availability of healthier tech hub information and guidance on InternetDetails http://tr.gew.co/tr entrepreneurship, which is where It all starts with a handful of Webrazzi has established itself as a successful entrepreneurs who major provider in Turkey.”Page 16 GEW Magazine
The Turkish government launched Recently, several Turkish restaurant The most recent FDI incentive aims to injected more than $2.5 billion into a new incentive in 2013 for chains have received major investment boost production and investment for R&D activities in 2013, up 29% on the qualifying angel investors and for national and international growth. high-import-dependent intermediate previous year.it features major tax deductions on Talented Turkish designers are also goods and to increase investmentinvested funds and exemptions on making the leap, from designer to in the lesser developed regions. Endeavorcapital gains. entrepreneur, by creating new luxury The incentive offers reductions and Endeavor Turkey has hosted GEW brands. exemptions on tax and social security since 2008 and this year has a steeringEven before this angel incentive was premiums to investors together with committee of 20 organisationsannounced, Hasan Aslanoba, former SPRINGBOARD helps various land allocation privileges, R&D including the Union of Chambers andCEO of Erikli Su and Nestle Water, foreign investors and grants and soft loan support. Commodity Exchanges of Turkeydoubled the amount of angel capital multinationals to jump (TOBB). They will also be workinginvestments in Istanbul between 2013 on board INNOVATION RING with over 200 NGOs, universities,and 2014 with his $38 million angel embraces cleantech and government agencies and businessesinvestments in 39 startups. Now he is Turkey has a robust domestic market, life sciences in a great example on how institutionsleading the charge to challenge other advanced infrastructure, a competitive can work together towards creating aprominent family business owners workforce and also provides an Turkey has begun an exciting new better entrepreneurial environment.to establish formal family investment open platform to pursue emerging programme of development inoffices, including an angel investment opportunities in the neighboring cleantech and life sciences under The week in Turkeystrategy, across the country. Europe, Caucasus, Middle East and the umbrella of INNOVATION RING. In 2013 the GEW campaign reached North Africa regions. Its strategic According to the Deloitte 2013 over 80,000 participants throughoutOther globally competitive government location gives easy access to a Researcher’s Report on Turkey, Turkey and this year, in collaborationincentive programs include important potential market of 1.5 billion people, the Supreme Council of Science with the International Entrepreneurshiptax breaks for R&D staff and expenses, a combined GDP of $25 trillion and and Technology has committed to Initiative (UGM), the campaign willeligibility for major grants and foreign trade of $8 trillion. increasing the number of full time be rolled out to even more cities andsoft loans to support startup office researchers in the public sector from regions nationwide.expenses, R&D, branding, consulting, Exports have reached $150 billion roughly 36,000 to 300,000 and in thetradeshows and exports. with many multinational companies private sector from about 24,000 to GEW Turkey’s Co-Chair, establishing manufacturing bases or 180,000 by 2023. Sezai Hazir, says “Turkey is in theISTANRUE is reviving moving their regional headquarters throes of a major cultural paradigmIstanbul’s reputation as to Turkey. Coca-Cola, for example, Borsa Istanbul (BI) is innovating shift that applauds efficiency anda retail giant manages operations in 94 countries access to finance on the stock innovation based entrepreneurship from its regional HQ in Turkey. Similarly, exchange. BI’s Emerging Companies as a career choice and celebratesIstanbul is poised to revitalise its GE Healthcare and Microsoft manage Market was launched in 2010ancient reputation as retail and operations in 80 countries across to support earlier stage growth high impact entrepreneursservices mecca. The Istanbul Shopping four regions from Istanbul. Foreign companies. New angel investor as champions of economicFest was initiated in 2011 and is hosted companies can locate their regional development. Entrepreneurs andevery June to stimulate business and management centers in Turkey under matchmaking and pre-IPO investors alike are invited to comeentrepreneurship in retail, tourism, a liaison office structure with full platforms led by BI are also explore the opportunities andfood, transport and accommodation. corporate and personal income, VAT helping investor efficiencyThe 2014 festival attracted 1.1 million and stamp duty tax exemptions. join the impressivetourists and generated over €3 and confidence. level of collaboration with haste.”billion in revenue in just three weeks. In 2006, the Turkish Prime MinistryAccording to the UN World Tourism launched the Investment Support These ambitious goals mean that GEW host organisation:Organization statistics for 2013, Turkey and Promotion Agency of Turkey (ISPAT) government and private capital Endeavor Turkeyis the 6th most visited country in the from both Turkish companies andworld and Istanbul is poised to attract a to provide foreign investors multinationals, such as TEB-BNPhealthy share of the 38 million tourists with assistance. Companies with Paribas and DuPont, has begun flowingwho visit Turkey every year. foreign capital rose from 5,600 to into designated R&D projects designed almost 40,000 during the past decade. to serve as world-class innovation centers. The Turkish government A Webrazzi eventTurkey has 329 majorshopping centers, ofwhich 97 are based inIstanbul. According to DTZEuropean Retail Guide,this puts the city ahead ofMadrid at 94,Barcelona at 45,Berlin and Rome at 43,London at 42 andParis at 15 GEW Magazine Page 17
GEW 17 Nov - 23 Nov 2014IranA new dawn of opportunityin an ancient landIran is not a country that investors Iran offers incredible The economy is growing, in all sectors,normally associate with entrepreneurship, opportunity and this means there are opportunities forbut that is changing more and more for investment, Irianian entrepreneurs and for internationalevery year particularly in investment practically everywhere. the advancedIRANIAN ENTREPRENEURSHIP Abbas Aliabadi industries for Iran Entrepreneurship Association IN ACTION which it is famous – GEW is being hosted by Iran energy production, Entrepreneurship Association (IEA), a not- construction and for-profit organisation that champions the transportation. entrepreneurial spirit in Iran by providing assistance to startup businesses. IEA helpsGEW Iran is supported employees, the company But the country also has a highly educated to develop local business communities,by MAPNA Group. This has a significant role in and experienced workforce that is eager improve and increase access to latestis the epitome of Iranian Iran’s growing economy and to bring its expertise to other countries training and education, ease enterpriseentrepreneurship: a group infrastructure and has the around the world. This is in line with regulations and policies and to attractwith 39 subsidiaries engaged expertise to contribute to the Iran’s desire to develop its own economy media attention to startups. It also works toin the development and economic growth of other while also helping to contribute to the support the development of acceleratorsimplementation of power, oil countries too. development of its neighbours. One and incubators, increase access to financeand gas, railway transportation way to do this is to encourage Iranian for new businesses, attract local andand other industrial projects, as “We owe our success to our entrepreneurs to bring their skills and international investment and to empowerwell as equipment manufacture high-caliber, knowledgeable knowledge in everything from finance and other NGOs and institutes that supportand the necessary investment management, technical, engineering to project management and entrepreneurship.schemes they need. Since engineering, financial and services to the world.1992, it has completed over economic experts who are all The week in Iran100 projects worth over €30 committed to improving and Within Iran itself, there are excellent Last year was Iran’s first as a participant Promotional Feature. © Copyright (2014) of Watershed Media Ltd.billion, manufacturing 95 growing the company as they opportunities for entrepreneurs and in GEW but, even from a standing start,different commodities and reach the group’s goals,” says investment in infrastructure and supply the committee still managed to organiseproviding over 50 services. Abbas Aliabadi, chairman & chain through public/private partnerships, more than 20 events in conjunction withWith more than 12,000 direct president, MAPNA Group something that Iran recognises as offering 15 partners. Once again this year, Iran a solid foundation for the nation’s future sees GEW as a golden opportunity and economic growth. a window into the country. There is a new programme of events planned thatImpact of GEW 2013 While these areas of growth amongst the promise to connect Iran’s entrepreneurs traditionally strong Iranian industries of to the global grid of ideas, innovationCountry Iran petroleum, petrochemicals and transport and investment while, at the same time, may be obvious, it is worth noting that building a stronger entrepreneurshipActivities 10 there is a whole generation of highly ecosystem at home. qualified Iranian graduates who havePartners 14 specialised in power generation, oil and GEW host organisation: gas, IT, mining and healthcare. Iran Entrepreneurship AssociationParticipants 2,200Details http://ir.gew.coPage 18 GEW Magazine
Brazil State government recognises theA success story importance of GEWFor the third year Brazil has the The challenge is to create an entrepreneurial More than a weeklargest GEW and aims to use its environment in which people feel confident in starting Throughout the month of November, publicstrength to promote important up their own businesses and to create the conditions in and private sectors will cooperate to fosterchanges for the entrepreneurial which those companies can thrive. entrepreneurship and promote a more conduciveenvironment environment for enterprise. The plans for 2014 To do that, the Brazilian government has taken an include a national advertisement campaign on theGEW has enjoyed six successful years in active approach to fostering entrepreneurship with challenges entrepreneurs face in Brazil, a petition Brazil. In that time 700 partners have helped many new initiatives to assist startups, providing around new tax regulations, a challenge to reward to hold 4,000 events for more than 2 million them with funding (e.g. FINEP, BNDES), strengthening and promote the most successful initiatives onparticipants and 40,000 social media followers. mentoring networks (e.g Sebrae, Endeavor, InovAtiva entrepreneurial education in the country as well as Brasil, Startup Brasil, SEED), providing facilities to flagships events to engage government leaders.This popularity proves that the entrepreneurial culture open a company in less than a week (e.g. Sala dohas spread throughout the country with millions Empreendedor, Portal do Empreendedor) and GEW host organisation: Endeavor Brazilbelieving that it drives economic growth, generates expanding the benefit of special tax regulations forjobs and creates opportunities. SMEs (Simples Nacional). Impact of GEW 2013Despite this, there are still very few people that are Endeavor Brazil Country Brazilwilling to take the risk of starting their own business. Around the world, Endeavor is the leading supporterAmongst those that do, even fewer can be considered of high impact entrepreneurs. This is true in Brazil Activities 4,127high impact entrepreneurs. Brazil has only 34,000 high too, where Endeavor’s primary goal is to increasegrowth companies, less than 1% of the total, which are the number of high impact entrepreneurs, seeking Partners 598responsible for 50% of the new jobs generated in the out those with the greatest potential to create greatrecent past. companies and inspire others to transform the country Participants 1,678,250 through employment and wealth creation. Details www.semanaglobal.org.brTunisiaChange is an opportunity to improveTunisia is on a course for great these firms must open up to new methods, products 400 business managers. Since its foundation in 1984,change and key to that must be and markets. Creating jobs for youth and transforming AIBM has empowered Tunisian business, thanks toa plan to encourage its young, the business sector are two aspects of the same its expertise and its local and international relations.educated and enthusiastic people challenge, a challenge that only entrepreneurship can Today it is a powerful network of economic exchangeto embrace entrepreneurship address. and a cradle of enterprise development.Tunisia is facing a long road to prosperity but The Tunisian government is introducing a The week in Tunisia has a detailed map of how to get there. A number of programmes and reforms to stimulate There are a wide selection of events planned across young population will help, with 80,000 young entrepreneurship at national and local levels. Access Tunisia during GEW, all of which are designed topeople graduating every year. One of the obstacles to financing will be improved through new seed funds encourage entrepreneurship, open debate amongstis Tunisia’s business sector which is dominated by and loan guarantees, startups will be supported policymakers and business support organisations andtraditional firms in traditional industries with poor through new business incubators and training and increase cooperation between business people andgrowth and income generation opportunities and coaching to entrepreneurs to increase their skills and legislators. competences.Tunisia is keen to embrace entrepreneurship GEW host organisation: Arab Institute Of All universities in Tunisia are offering a teaching Business Leaders (IACE) module in entrepreneurial culture and several have established entrepreneurship professorships and Impact of GEW 2013 departments with dedicated start-up support services in the form of entrepreneurship centres, business Country Tunisia incubators and technology transfer units. Activities 161 Partners 105 Arab Institute Of Business Leaders Participants 94,085 The Arab Institute Of Business Leaders (IACE) is a Details http://tn.gew.co renowned Tunisian think tank that unites more than GEW Magazine Page 19
GEW 17 Nov - 23 Nov 2014IrelandA completely new mindsetThe most exciting feeling in Ireland today is a new wave ofinnovative and creative thinking CoderDojo co-founder James WheltonThe very essence of entrepreneurship is when “This has had a major global impact on youth series of national events and competitions and thisan idea occurs to someone with the passion to do entrepreneurship” says Mary Moloney, CEO is Ireland’s first year to participate in the globalsomething about it: A spark meets energy. of CoderDojo.“We are giving kids the skills, Creative Business Cup during GEW. the confidence and the networks to build small, orWhat has been interesting in Ireland has been large, technology-based enterprises in a safe and GEW host organisation:the emergence of a new mindset that seems to supportive environment.” Think Ireland Inc.have been created, ironically, by the last five yearsof economic turmoil. Necessity has forced the CoderDojo has become a featured event of GEWcountry’s entrepreneurs to trust themselves to find Ireland and is launching a new competition foreconomic solutions. Ireland’s Prime MinisterWhen Ireland went to the very brink of (Taoiseach) Enda Kennycollapse, this imminent disaster became a recently released acatalyst for change and spawned a new way statement supporting theof thinking. The hugely successful Celtic efforts of Think Ireland Inc.,Tiger years that preceded the collapse the host of GEW/Ireland,seemed to paralyse the nation’s thinking. in bringing the global celebration to Ireland.In this incredibly comfortable cocoon withseemingly booming construction and tech young entrepreneurs that challenges their abilities Coders and “I am delighted to seeindustries there was no compulsion for Ireland participate in Globalthe younger generations to do something to be creative and innovative. ‘ brothers Entrepreneurship Week, as Promotional Feature. © Copyright (2014) of Watershed Media Ltd.new or to be innovative. The cosy affluence this re-enforces the enormousstifled the nation’s entrepreneurial creativity. Darragh, age contribution entrepreneurs make to our economy and firmlyAnd then, out of the blue, the ship hit a rock Think Ireland Inc. 8 and Danny places Ireland’s entrepreneurialand it was time to sink or swim as this very spirit on the global stage. Thecatastrophe became the country’s savior. Think Ireland Inc is a movement of creative and age 9 with their week aims to inspire Ireland’s next generation of entrepreneursIreland’s natural instinct has been to survive project ‘Starwar to think of starting a businessand in this it has excelled. In the first quarter Shoot Em up’ while connecting globally to aof 2014 GDP grew 2.7% while there was a worldwide entrepreneurship47% rise in the number of Irish tech startups community to share ideas andcompared with the previous year. knowledge.”In what could be a great economic recovery, innovative leaders who are moving to rebuildnecessity has been the mother of invention and Ireland’s economy through entrepreneurial thinkinga key driver is the realisation that the path toeconomic prosperity must involve embracing and action. These entrepreneurs and businessentrepreneurship. leaders are driving Ireland’s recovery and believeA great example of this entrepreneurship in actionis CoderDojo, founded by young Irish entrepreneur that startups are critical to the growth of ourJames Whelton and philanthropist Bill Liao. Just outof college, James was recently featured in Forbes economy.magazine as one of the Top 30 Young Innovators ofour Time. The week in Ireland Impact of GEW 2013 Ireland’s celebration theme for 2014 is ‘HarnessingCoderDojo is a non-profit global movement which, New, Innovative and Creative Thinking’. The aim Country Irelandso far, has taught 50,000 children how to code and is to create a national awareness about the impactdevelop games in close to 50 countries around the of this new thinking as an essential driving force Activities 120world. for the creation of new business. There will be a Partners 3 Participants 5,400 Details http://ie.gew.coPage 20 GEW Magazine
Ireland: A global destination that attracts worldclass eventsIreland has always been a preferred destination for corporate events– meetings, conferences, exhibitions and trade fairs. The reason forthis in the past was that Ireland was famous for a tradition of warmhospitality, the land of the “hundred thousand welcomes”. Dublin’s state-of-the-art digital hub Meet in Ireland is the Traditional Irish hospitality is alive and well official business tourism brand for the island of Ireland. World-class conference and meeting services in Ireland It is made up of three official tourism authorities, Fáilte Ireland, Tourism Ireland and the Northern Ireland Tourist Board. These three authorities promote Ireland for the purposes of business tourism and as a leading conference and meeting destination.As of August 2014,already more than60,000 delegates haveattended conferencesin IrelandOne of the biggest annualconferences in Dublin isthe Web Summit, Europe’slargest tech event and amust-attend conferencefor any tech entrepreneur.In more recent times, however, A global centre of excellence facilities and expertise. The group of Irish headquartered Ireland has become home to some What that means is that Ireland is government made it a priority to companies that have achieved of the world’s biggest technology a global centre of excellence for invest in an ambitious programme significant success on the globalcompanies (Google, Facebook, Intel, innovation and enterprise but it also to attract some of the world’s best stage. An increasing number of theseetc), the best-known pharmaceutical/ has the infrastructure in place for research talent to new research were founded, and are now run by,life sciences companies (Abbott, these global technology, pharma, centres focussed on topics of entrepreneurs who relocated toBayer, Johnson & Johnson, etc) and services and finance leaders. In other particular relevance to their key Ireland to establish their startups.the fast-growing services companies words, top quality hotels, conference business sectors, including Centres(AirBnB, PayPal, eBay, etc). centres and support services are all for Science Engineering and Combining all of these elements, highly developed and close at hand. Technology (CSETs) together with Ireland is perfectly positioned as aIn fact, Ireland is the Internet and competence and Applied Research leading destination for internationalgames capital of Europe and more Research and development Enhancement (ARE) centres. business events.than more than 50% of the world’s facilitiesleading financial services firms have These industry giants have helped High Potential Startup Companies Visit www.meetinireland.comoperations in the country. Ireland to become home to world- Active support for globally focussed class research and development startups has created an expanding GEW Magazine Page 21
GEW 17 Nov - 23 Nov 2014 Ireland cont...Entrepreneurs are keyto economic recoveryEnterprise Ireland in the technology and pharmaceuticalis working hard to industries.encourage homegrownentrepreneurs and to Entrepreneurs can access significant Dougie Howlett, Munster Rugby Alexandra Milne winner of the Enterprise Irelandattract people with new support from the government and Student Entrepreneur Awards 2014 with her project Little Deli and Tom Hayes,ideas into Ireland from the private sector and the spirit of Enterprise Ireland enterprise is encouraged from an earlyIreland’s economic recovery is well age with entrepreneurial competitions a €50,000 investment is offered in head of micro enterprise and smallunder way thanks, in part, to the work run throughout the country in exchange for 10% of the business. business at Enterprise Ireland.being done by the state economic secondary schools.development agency, Enterprise Alongside state support there is Ireland is very successful at attractingIreland, and the extraordinary support At third level, Enterprise Ireland hosts a vibrant private sector offering HPSUs from overseas too. Enterprisestructures that are currently in place for student enterprise awards and a New mentoring, incubation and networking. Ireland has a team dedicated to thisentrepreneurs. Frontiers enterprise development There is strong financial support too and a fund to draw in early stage programme funds and supports 150 with approximately €800 million mobile projects. The attraction is theInternationally, Ireland has always been new ideas each year. This year Ireland’s available through angel investment, entrepreneurial culture, the ecosystem,regarded as a hotbed of enterprise BestYoung Entrepreneur competition seed funds and VC firms. the availability of finance and investors,with a flourishing support ecosystem is currently running in every county the young, enterprising peer groupsfor entrepreneurs. It is also seen throughout the country. “Even during the height of the and the support from mentoringas a gateway to Europe and a rich recession there was a strong spirit of networks and advisors. Enterpriseresource of vibrant, well-educated, Every year the government agencies entrepreneurship in Ireland with many Ireland’s wider support through accesswell-connected young people. That, support about 1,000 startups with of the startups during that period now to their international offices and theand a great quality of life for people early stage financial support and scaling their operation as we emerge support offered by embassies andworking there has led many of the investment in High Potential Start Up from the recession. It certainly proved trade missions plus the good esteembiggest global players to make (HPSU) companies if their ideas look the adage ‘the best ideas come out of a that Ireland is held in around the worldIreland their home, especially those strong enough to be internationalised. recession’ to be true,” says Tom Hayes, A number of programs are in place to all helps too. encourage startup companies such as the Competitive Start Fund where GEW impact snapshotBelgium Impact of GEW 2013 Moldova Impact of GEW 2013 “Belgium’s finest organisations Country Belgium “The entrepreneurial movement Country Moldova reach out to create and stimulate opens business borders, discovers an entrepreneurial culture. Join us Activities 50 innovation and creativity and Activities 27 in Brussels, Flanders and Wallonia!” stimulates investment for poverty Partners 35 reduction and equitable growth” Partners 24 Host: n2euro Host: GEN Moldova Participants 6,000 Participants 1,000Freddy Nurski, Managing Director, n2euro Details http://be.gew.co Details http://md.gew.co Olesea Fortuna, President of Global Entrepreneurship Network MoldovaBotswana Impact of GEW 2013 Israel Impact of GEW 2013 “GEW fosters connections that will Country Botswana “GEW-Israel focuses its efforts on the social Country Israel aid progress in creating effective, periphery, reducing gaps by introducing the scalable solutions and practical Activities 3 concept of entrepreneurship to the younger Activities 424 tools that will aid entrepreneurship generation and providing a route to a better education in Botswana.” Partners 4 future.” Partners 65 Host: Ngwana Enterprises Host: GEW Israel Participants 300 Participants 24,420 Details http://bw.gew.co Details www.gew.org.ilMooketsi Bennedict Tekere, CEO, Ngwana Enterprises Promotional Feature. © Copyright (2014) of Watershed Media Ltd.Greenland Impact of GEW 2013 Bermuda Impact of GEW 2013“The theme for the 2014 campaign is ‘Be A Country Greenland “Bermuda is proud to celebrate Country BermudaPioneer’. Greenland is the last frontier with a our country’s innovations andworld of possibilities: Heli skiing, dog sledding, Activities 8 entrepreneurial startups during Activities 15adventure camps, arctic farming, hunting, GEW each year” Host: Bermuda Partners 2 Economic Development Partners 24fishing.” Corporation (BEDC)Host: Happy GEN Greenland Participants 200 Bermudian entrepreneur pitches at Launch Pad Participants 4,180 Details http://gl.gew.co Barbados Details www.bedc.bmSweden Impact of GEW 2013 “BYBT, a not-for-profit, youth development Impact of GEW 2013 organisation focused on entrepreneurship“The ESBRI leads Sweden’s research into Country Sweden utilising mentoring to create job opportunities Country Barbadosentrepreneurship in small and medium sized for youths ages 18 - 35.”enterprises, education and research for Activities 211 Host: Barbados Youth Business Trust (BYBT) Activities 37business and the public.”Host: Entrepreneurship and Small Business Partners 108 Partners 39Research Institute Participants 11,700 Participants 23,053 Details www.esbri.se Details http://bb.gew.co For a full list of participating countries see pages 12 & 13 or visit www.gew.coPage 22 GEW Magazine
Greece FAC 2014Sowing the seeds of Competition categoriesentrepreneurship Disrupt Startup ScaleUP, • AgTech the fastest growing • Modern practices, products & cross-sector event packagingGreece is hosting the Future Agro Challenge, the world • Ideas that increase incomechampionships of agricultural innovation unleash the potential and creativity generations for farmers of entrepreneurs who can become • Logistical infrastructureWe live on the edge of food The challenge is aimed at global players in agriculture as they • N utritional & healthy food scarcity. At the same time we entrepreneurs in agribusiness and promote sustainable development.are creating a volatile environment focuses on innovative development and In 2013, winning startups received culturefor agriculture which now faces an fresh ideas. With food processing on over €400,000 in cash prizes and • Farming & animal farminguncertain future. With the Earth’s the rise, globalisation boosting mass gained access to startup servicespopulation expected to grow to 9 production and healthy lifestyle taking and distribution networks. practicesbillion by 2050, how will we be able the center stage, agriculture • Food home grownto feed everyone? is changing and growing. With over 20 countries from four • Gastronomy & culinary continents already involved, FAC • P ost or alternative uses of farmFuture Agro Challenge (FAC) is is the We want to address the issue of invites you to join this dynamicnew featured event of GEW hoping healthy food from the farmer to community. There is not one simple productsto answer this question. It is the the consumer. solution to these complex challengesworld championship for innovators, and so our community offers a If you have a great agribusinessvisionaries and leaders who are FAC’s ultimate aim is to address year round dialogue into a deeper idea that can change the worldoffering change in our everyday life the great challenges affecting our understanding of each challenge. or if you want your country to bethrough farm, food and lifestyle. future, create healthier citizens and involved in this global dynamic community, please visit www.futureagrochallenge.com The FAC international finals will take place during Disrupt Startup ScaleUP, the fastest growing cross-sector event, November 15-16, 2014, in Athens, Greece. FAC and Disrupt Startup ScaleUP are powered by Industry Disruptors- Game Changers (ID-GC), a leading organisation that promotes and fosters entrepreneurship in the European, Mediterranean and Balkan regions. For more details, visit www.industrydisruptors.orgThe fastest growingcross-sector event inthe regionIn 2013, €565,000 was awarded The figures: The event everyone wants to win...in cash prizes during Greece’s • 1 million livestream hitsDisrupt, Startup, ScaleUP, but that’s • Over 2,000 attendeesnot why the number of startups and • 5 live competitionsattendees have doubled. • 5 different sectors • Over 450 startup applications“Scaling new heights, this fast, high • 50 live startup pitchesenergy event showcases pioneering • 31 judgesstartups competing from around • 14 winnersthe world with breakthrough ideas. • 50 speakersAt the same time, first class global • 60 hours of contententrepreneurs inspire and mentor, • 25 workshopsinternational investors hunt their • 12 entertainment showsnext startup, various organisationsand institutions voice employment The sectors:opportunities and international • Healthmedia reports the results” says • AgribusinessMichalis Stangos, co-founder • Creative Industriesof ID-GC. • Cleantech • ICTDisrupt Startup ScaleUP will take • Tourismplace on November 15-16, 2014in Athens, Greece. ...but choosing is not so easy GEW Magazine Page 23
Promotional Feature At GEW we have a MISSION... “T o expand as a platform for connection and collaboration that helps millions of people unleash their ideas and turn them into promising new ventures - solving global challenges and strengthening economic stability around the world”Page 24 GEW Magazine
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