United States President Barack Obama and First Lady Michelle Obama. PHOTO | FILE |
AFP
Later this month, President Obama will become the first sitting US President to visit Kenya.
This
historic visit reinforces the strong ties between the American and
Kenyan people and reaffirms our belief that in the 21st century, the
world will see Africa and its citizens at the forefront of economic and
social development.
Central to President Obama’s trip is entrepreneurship, that “spark” characterised by innovation and risk-taking.
To
promote this spark, Presidents Obama and Kenyatta will co-lead the
Sixth Global Entrepreneurship Summit in Nairobi on July 25-26. Also
known as the GES, the summit will bring together some of the world’s
leading business innovators to share experiences, make new connections,
and brainstorm ways to identify and invest in the next big idea.
Entrepreneurship
has always been central to the United States ethos and to its
progress. Between 1980 and 2005, companies that had been operating for
less than five years accounted for significant net job growth in the
United States. Experience has taught us that entrepreneurship is not
only a driver of innovation, but also a core engine of economic growth
and social inclusion.
The first GES, in Washington DC,
in 2010, and the four since then, have attracted thousands of business
leaders, foundations, investors, and social entrepreneurs. Each has
created opportunities to secure financing, improve investment
environments and, most importantly, forge new business partnerships.
This
month, the GES will come to sub-Saharan Africa, home of nearly half the
world’s fastest-growing economies. Few countries better typify the
entrepreneurial spirit than GES co-host Kenya.
From
world-leading commerce and banking technologies like M-Pesa to
veterinary smart apps assisting small-scale dairy farmers like iCow,
Kenya is a pioneer in businesses improving the lives of millions.
When
we think of an entrepreneur, we often envision someone in high
technology. However, entrepreneurs across all sectors — not just
information technology — help us expand our economies and improve lives.
Many
of the best entrepreneurial, job-creating ideas will be sparked by the
boundless creativity of youth. Young people bring new perspectives to
the table, fresh ideas, and drive. In economies that struggle to
generate formal employment, entrepreneurship can open doors for the
bright and ambitious.
But entrepreneurs cannot do it
alone. Governments must create conducive environments that allow
innovators to bring their ideas to life instead of hampering them with
time-consuming hurdles or expensive barriers.
Towards
this end, the United States has invested in over 1,000 initiatives
focused on promoting entrepreneurship globally. In Kenya, US Feed the
Future programmes are scaling up innovative market-driven solutions to
food insecurity, under-nutrition, and poverty.
President
Obama’s Power Africa initiative is supporting innovative entrepreneurs
looking to connect those off the electricity grid. The US Global
Innovation through Science and Technology project has assisted young
African scientists to generate revenue for their companies.
During
last year’s US-Africa Leaders’ Summit, President Obama said: “Even as
Africa continues to face enormous challenges, even as too many Africans
still endure poverty and conflict, hunger and disease, even as we work
together to meet those challenges, we cannot lose sight of the new
Africa that’s emerging.”
The world already has more
than 400 million entrepreneurs. However, this is nowhere near its full
potential. This year’s GES will highlight to the world the successes and
potential in Kenya, and will provide an opportunity to start the next
great innovative chapter.
The Global Entrepreneurship
Summit will be an important contribution by Kenya and the United States
to promoting and expanding entrepreneurship in Africa and around the
world. It is another example of how our two countries are working
together across a range of issues.
I look forward to
meeting many young entrepreneurs later this month and I am confident
that some of them will help create the Facebooks of the future!
Mr Godec is the US ambassador to Kenya. @BobGodec
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