Remarks at the Global Entrepreneurship Summit
Thomas Nides,Deputy Secretary for Management and Resources
Dubai, United Arab Emirates
December 12, 2012- "Entrepreneurship is about the human drive to do something new and different. It keeps our societies vital and resilient. Anyone with a good idea and the willingness to work hard can improve the way we live - and make some money to boot.Moreover, the biggest challenges facing our world today can only be solved with widespread innovation. Combating climate change. Finding sustainable clean energy solutions. Solving global health crises. These are worldwide foreign policy priorities that need more than new resources. They need new ideas and creative problem-solvers adding their shoulder to the wheel.
All around the world, stability and economic opportunity go hand-in-hand. The recent democratic transitions in this region reaffirm the importance of broad-based economic advancement for all of a country’s citizens. And nothing creates new opportunities like entrepreneurship. Here in the Middle East, unemployment numbers are already too high, particularly among young people. And it will take 50 to 100 million new jobs over the next 8 years just to keep it from rising any higher. This is a problem in Europe, Asia, Africa and every region of the world. We can’t hold the line on youth unemployment, much less improve it, without a laser-sharp focus on entrepreneurship.
The good news is that the world’s leaders understand that entrepreneurship is vital. That’s why President Obama has a global engagement agenda centered on entrepreneurship. That’s why Secretary Clinton is putting economic statecraft at the top of our diplomatic agenda. It’s why the leaders of the UAE have organized this important event. And that’s why I’m here.
The bad news is, we haven’t totally unlocked the system to enable entrepreneurs to unleash their talents and help us build a more stable and more prosperous future. That’s why all of you are here. It’s why you spent yesterday making connections, talking about the barriers you face, and discussing practical solutions we can put forward to amplify the impact of entrepreneurship around the world.
And it’s why this is the third time we’ve held this conference – and why we’ll continue to do so. First in Washington, then last year in Istanbul, and now here in this hub of commerce connecting Europe to the Middle East to Southeast Asia. Each time, we bring together people from the business world, from finance, from government, from civil society to build partnerships and strengthen ties. This summit links up American economic leadership with the innovation and entrepreneurial energy that is brimming over in this region of the world.
Because let’s face it: entrepreneurship is hard. It takes incredible determination, long hours, and a lot of trial and error to come up with a game changing innovation. Entrepreneurs need all of us working together to make it easier for them to succeed.
