US Raise $1 Billion for Entrepreneurs

The United States of America has raised over $1 billion new investment as start up capital for upcoming entrepreneurs around the world. 

U.S. President Barack Obama (L) and Kenya's President Uhuru Kenyatta (2nd R) take part in a roundtable with young businesspeople at the Global Entrepreneurship Summit at the United Nations compound in Nairobi, Kenya July 25, 2015. Photo/REUTERS - See more at: http://www.the-star.co.ke/news/what-next-after-global-entrepreneurship-summit#sthash.XphbLeAr.dpuf

U.S. President Barack Obama (L) and Kenya's President Uhuru Kenyatta (2nd R) take part in a roundtable with young businesspeople at the Global Entrepreneurship Summit at the United Nations compound in Nairobi, Kenya July 25, 2015. Photo/REUTERS - See more at: http://www.the-star.co.ke/news/what-next-after-global-entrepreneurship-summit#sthash.XphbLeAr.dpuf

President Barak Obama gave this revelation at the 2015 Global Entrepreneurship Summit –-

an American initiative in Nairobi Kenya during his recent visit to Africa. The event, which was held at the United Nations compound was attended by inspiring entrepreneurs from over 120 countries worldwide and many from across Africa.

According to President Obama, who aptly described entrepreneurship as the spark of prosperity, America is taking the next steps to partner aspiring business owners by offering entrepreneurs more start-up capital.

“Today, I am proud to announce that not only did we make our goal, we surpassed it. We’ve secured more than $1 billion in new commitments from banks, foundations, philanthropists, all to support entrepreneurs like you,” he announced.

He told his audience that that was an upshot of last year’s Entrepreneurship Summit, where a goal of generating $1 billion in new investment for emerging entrepreneurs around the world was set.  

 

US President Barack Obama (L) and Kenya's President Uhuru Kenyatta (2nd R) & a couple of young entrepreneurs at the summit. Photo: Reuters

 

The summit also witnessed an assemblage of over 200 selected seasoned investors, business leaders and innovators from the US and other parts of the world.

Apart from that, women entrepreneurs whom he dubbed powerhouse entrepreneurs got special attention.  

“We’ve already helped build a network of more than 1,600 women entrepreneurs across Africa.  We’re launching three women’s entrepreneurial centers -- one in Zambia, one opening later this year here in Nairobi -- and I’m proud to announce that the third center will be located in Mali,” the American president unwrapped.  

He added that it has been revealed by research that when female enterprisers bring home the bacon, they drive economic growth and invest more back into their families and communities.   

The United States Overseas Private Investment Corporation is also said to be contributing $100 million to support Goldman Sachs’ 10,000 Women initiative, making more capital available to women-owned enterprises around the world.

According to President Obama, “Entrepreneurship creates new jobs and new businesses, new ways to deliver basic services, new ways of seeing the world -- it’s the spark of prosperity.” 

He is also of the view that entrepreneurship could stem the tide of violence as being witnessed currently by parts of the world. 

“Entrepreneurship offers a positive alternative to the ideologies of violence and division that can all too often fill the void when young people don’t see a future for themselves,” he argued.  

The Nairobi meet is the first time the summit was held in sub-Saharan Africa. Obama had actually declared: “We wanted to come here. I wanted to be here because Africa is on the move. Africa is one of the fastest-growing regions of the world.” 

Interested entrepreneurs out of the US may wish to contact the information section of the American embassy in their respective countries for further details on how to benefit from this thrust.

In round off this piece, let’s leave you with the parting shot of President Obama at the said summit: “Go out there and start something. We're excited about it.  We expect great things out of you.”