Global entrepreneurship is on the rise. According to the latest Global Entrepreneurship Monitor from Babson College, there are nearly 400 million active entrepreneurs around the world. One of the most significant findings in the GEM survey was the steady increase of total entrepreneurial activity (TEA) across all the different economic levels despite a worldwide economic struggle over the past few years.
In Pakistan the private sector is also actively involved in promoting entrepreneurship but public sector support and drive is very much missing. Government must take measures to encourage entrepreneurship culture, particularly in youth.
The Young Entrepreneurs Forum of Islamabad Chamber of Commerce & Industry has recently organized Global Entrepreneurship Week. In this event panelists, researchers, economists and youth highlighted the importance of entrepreneurship issues and cited examples of successful entrepreneurs to motivate youngsters.
Taking another initiative, YEF is planning to organize National Entrepreneurs Conference in March this year on the theme “Inspiring a New Wave of Entrepreneurs”. This will provide an opportunity to youth to share & exchange ideas, experiences, skills and knowledge, learn from each other and set a road map to unleash their entrepreneurial potential.
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In 2011, CIPE Pakistan raised the profile of entrepreneurship while exploring the impediments to an entrepreneurial culture. Initiatives throughout the year covered opportunities in the IT sector, women’s entrepreneurship, innovation, education, financing, and more. See Emad Sohail’s summary of 2011 highlights on CIPE Development Blog.
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Russia – Local governments in Russia’s North Caucasus region awarded in December certificates to 10 graduates of a CIPE-administered youth entrepreneurship program to assist in business startups. The winners, seven from the Stavropol region and three from the Republic of Kabardino-Balkaria, are being granted space in business incubators for up to a year to develop their start-up projects. The business incubator is maintained by Russia’s Ministry of Economic Development. The business start-ups had been developed as part of a youth entrepreneurship training program funded by USAID. The new businesses range from a children’s clothing store to an advertising agency and a day care center.
Afghanistan – CIPE conducted a national business proposal competition among students from the schools participating in CIPE’s Tashabos youth entrepreneurship course. Continue reading ‘CIPE Entrepreneurship Update’ »