Entrepreneurship Remains Engine Of Growth, Says Obama

From Mohd Iswandi Kasan Anuar PALO ALTO, California, June 25 (Bernama) -- US President Barack Obama says entrepreneurship is essential in an increasingly globalised world and remains the engine of growth. Speaking at his seventh, and last, Global Entrepreneurship Summit (GES 2016), here, he said entrepreneurs have the power to shape businesses, create jobs and build new products. "I believe we are better off in a world in which we are trading, and networking, and communicating, and sharing ideas. "But that also means that cultures are colliding, and sometimes it's disruptive and people get worried," the outgoing president said in front of over 700 entrepreneurs from 170 countries, as well as 300 investors for pitch competitions, panels and networking. "You're the bridge. You're the glue, particularly the young people who are here, who can help lead to a more peaceful and prosperous future that provides opportunity for everybody," he said. The Obama administration supports entrepreneurship and makes it a top priority in his diplomacy and foreign policy. His government worked directly with entrepreneurs overseas by establishing centres in Pakistan, Cambodia, Zambia and Kenya that provided training, mentorship and access to technology to women entrepreneurs. Meanwhile, GES2016, held from June 22-24, is the 7th installment in a series previously hosted by the US and the governments of Turkey, the United Arab Emirates, Malaysia, Morocco and Kenya. -- BERNAMA