Global Entrepreneurship Program

The Global Entrepreneurship Program (GEP) is a new U.S. Government program focused on supporting and empowering entrepreneurs in Muslim communities around the world – and beyond. It will do this by marshalling partners, both U.S. and in-country, as well as multiple U.S. government programs around the six areas considered to be essential to creating a successful ecosystem for entrepreneurs.

These six areas are: ‘Identify,’ ‘Train,’ ‘Connect,’ ‘Guide to funding,’ ‘Sustain,’ and ‘Celebrate’ entrepreneurs. The proposed program has twelve focus countries throughout the world, including seven Muslim majority countries. GEP will provide expertise, tools and support for entrepreneurs that will help them to develop and flourish – spurring innovation and creating jobs and economic opportunity.[1]

Secretary Clinton's announcement

During her speech at the Presidential Summit on Entrepreneurship on April 27. 2010, Secretary of State Hillary Clinton launched a number of new programs. The first and foremost of these was the Global Entrepreneurship Program, which she announced with the following: "Here are some of the outcomes of this summit, as to what the United States intends to do. First, we are launching the Global Entrepreneurship Program. That’s an initiative that will provide concrete support to new entrepreneurs, starting in Muslim-majority communities and eventually expanding to others worldwide. Through this program, we will work with the United States private sector partners and local businesses, along with civil society groups, to help create successful entrepreneurial environments. We will help sponsor business plan competitions to identify and support promising ideas. We will work to expand access to capital so entrepreneurs with a sound business concept will have access to credit to enable them to put their ideas to work. We will facilitate partnerships between business schools in the United States and educational institutions worldwide to share knowledge and help strengthen business education. We will support mentoring programs so someone starting out can benefit from the experience of someone who’s been down that road before. I’m pleased to announce the launch of the Global Entrepreneurship Program’s first pilot program, in Egypt, coordinated by a team of Entrepreneurs in Residence from USAID. We will soon launch our second program in Indonesia, and we plan to expand to a dozen countries within the next two years."[2]

First pilot in Egypt

In Egypt, as part of GEP, On the Frontiers Pioneers of Prosperity program is bringing its highly regarded business plan competition programs; the Small Enterprise Assistance Fund’s Centers for Entrepreneurship and Executive Development, CEED, will provide their training and alumni networking programs; Endeavor, will deepen their best-in-class high-impact mentoring with the addition of their new Mentor Capital program. In addition, GEP’s eight local Egyptian partners include the Egyptian Junior Business Association, Nile University, the American University in Cairo, Delta Financial, and the Egyptian Business Leaders Forum and others. The local partners will work with U.S. partners in every area from training to mentoring to seeding angel investor networks.

In Egypt, the Global Entrepreneurship Program will be managed by a team of "Entrepreneurs in Residence" funded by USAID. They will grow the partnership network and the programs and partnerships offered. In Washington, GEP will be managed as an interagency team, led by the State Department’s Bureau of Economic Affairs/Office of Commercial and Business Affairs. It will work together with several U.S. government agencies, principally the Department of State, Department of Commerce, USAID, OPIC, SBA, and the Millennium Challenge Corporation.[3]

See also

Notes and references

  1. ↑ http://www.state.gov/documents/organization/141163.pdf Global Entrepreneurship Program
  2. ↑ http://www.state.gov/secretary/rm/2010/04/140968.htm Secretary Clinton's speech at the Presidential Summit on Entrepreneurship
  3. ↑ http://www.state.gov/documents/organization/141163.pdf Global Entrepreneurship Program
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