CG Remarks Launch of Global Entrepreneurship Week, hosted by Bermuda Economic Development Corporation

Congratulations to everyone involved in Global Entrepreneurship Week 2015 – which in Bermuda is really Entrepreneurship Month.   The range of events and the breadth of sponsorship is impressive – and really speaks to the vibe that Bermuda is actively generating.   The U.S. Consulate is pleased to be part of this effort.

I especially want to recognize the participants and winners of the BizCamp for their BizPlans.

Global Entrepreneurship Week was launched by the Kaufman Foundation in the United States in 2008 from my home state of Missouri.  Ewing Kauffman is undoubtedly looking down from heaven today with a huge smile on his face.  His beloved Kansas City Royals won the World Series last night.  He owned the team for many years – and brought his creativity and entrepreneurial spirit even to his sports management.

The Kaufmann Foundation launched Entrepreneurship Week to nurture and strengthen entrepreneurial ecosystems around the world.  Today after only eight years, there are thousands of events and competitions taking place in 160 countries, including Bermuda.

A recent survey pointed to entrepreneurship as the strongest element of the US national economy – ahead of other significant strengths such as capital markets, university quality, and innovation.  It is easier to start a firm in the United States today than it was just 10 years ago.  All the elements of a robust entrepreneurial ecosystem – capital, talent, professional networks, office space – are more available in the United States than anywhere else in the world.  We want to see these ecosystems grow and prosper everywhere – it is actually in our own national interests to see entrepreneurship flourish everywhere because competition stimulates good ideas, solutions to global problems of all sizes, and better ways of doing business.

The purpose of Entrepreneurship Week is to stimulate more entrepreneurial ecosystems by instilling an entrepreneurial spirit in young people, by providing mentors to young business people who are dreaming big and launching start-ups, by encouraging women entrepreneurs to succeed in competitive markets, by fostering social entrepreneurship which both contributes to society’s well-being while serving a market need and finally by connecting investors and capital with these dreamers and doers.

Again, congratulations to everyone here in Bermuda who is involved with Global Entrepreneurship Week activities.  Who knows what spark we might be lighting this month in a young entrepreneur?