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Entrepreneurship

How Can We Promote A More Entrepreneurial Environment Together?

Siddhartha Nanayakkara's picture

 CAAYE Facebook“If you cannot do great things, do small things in a great way.” - Napoleon Hill
 
Eight Commonwealth Asian Nations joined hands to discuss the contemporary needs of young entrepreneurs in the region at the Commonwealth Asia Alliances of Young Entrepreneurs (CAAYE) Summit held in Colombo, Sri Lanka from the 9th - 11th of November, in parallel to the Commonwealth Heads of Governments Meetings (CHOGM). The theme of the summit was highlighted as “Profit with a Purpose” which argued around its key objectives in promoting an ecosystem that supports the development of young entrepreneurs who contribute to economic, social and environmental sustainability across CAAYE countries. CAAYE 2013 was hosted by the Federation Chamber of Commerce and Industry Sri Lanka (FCCISL) in partnership with the Commonwealth Secretariat
 
South Asia concurrently holds the greatest opportunities and the risks of been responsible for the world’s largest youth populations in transition, therefore facing reality and addressing those contemporary needs should be key to those respective stakeholders such as governments, for a more stable and prosperous economy. Common challenges faced by young entrepreneurs in Asia are “fundamentals” concerns, which could easily been eliminated if there is right focus and continuous review by the relevant authorities in these countries. Those concerns that caught my eye included the need for updated knowledge and curriculum development at all level, need to not jail but celebrate failure, revamping of “extensive” government and organizational procedures allowing to reduce the lead time.

Everybody is an Innovator

Thrishantha Nanayakkara's picture

Join Thrishantha and other experts on the World Bank Sri Lanka Facebook page on April 2nd at at 4PM Colombo Time for a live chat on innovation!

One day, I was driving in a remote town in Sri Lanka, when I saw this encouraging scene. A few school kids were playing cricket on a rainy day, and they had made a wicket out of three umbrellas. It might look simple, but a very powerful message about innovation is hidden right there. An innovator in my view is somebody who practices to ask two simple questions: 1) is there a better way to do this, or simply, is there a way to do this? 2) why did it happen that way? The second question is driven by the curiosity to learn the rules of nature, while the first question is driven by a very healthy attitude to get things done by exploiting the rules of nature. The kids who used the three umbrellas for a wicket simply asked if they could find something in their environment to serve the purpose of a wicket. Quite subconsciously, these kids, by embedding in nature, by walking barefooted on mud, grass, and sand, have mirrored natural laws of nature in their brains, that provided them with the basis to change the utility of an umbrella to a stump of a wicket. Therefore, in my view, best innovators are those who are active outside the classroom as well as in the classroom and laboratories.

Think Big, Start Small

Ismail Radwan's picture

Join an online discussion with Ismail on Tuesday, April 2nd at 8-11AM on the World Bank's South Asia Facebook page to ask questions and learn more about his experiences.

The Dalai Lama once said - that if you ever feel you are too small to make a difference then try sleeping in a room with a mosquito. And the same goes for business. Every big business starts as a small business. General Electric was at one time the world's biggest company and it started with a simple but revolutionary idea - the invention of the incandescent light bulb in 1878 and the vision of just one person Thomas Edison.

Walmart started with a single store in 1945 and is now the largest private employer in the world. Starting with one store and the idea of making lots of cheap goods available all over the US, Walmart has created more than 2 million jobs. And of course more recently we have lots of examples in the technology and innovation space Apple, Microsoft, Google, Amazon, Ebay, Dell and Facebook. All are multi-billion dollar companies that started out in a single room, a basement or garage with a simple idea shared at first by a one or two people.

Why ICT (Information and Communication Technologies) and why NOW?

Lahiru Pathmalal's picture

“If you think the most important thing you need at a startup is capital, you will be wrong. It’s the wealth of mentoring and handholding you will have getting your business up and running.”

I have been asked to write a few paragraphs on the use of ICT for creating jobs and solutions in Sri Lanka. Even though I am an entrepreneur of an upstart, the question really stumped me. Why? As an entrepreneur my main objective is to establish a profitable business venture guided by some core values; this question has made me rethink where ICT stands in the context of job creation and solutions.

Well, the short answer to the first question is YES. It creates jobs; in the short time we have been in operation we have seen rapid growth and have hired several people to join our team. In the future we will continue to need additional staff as we expand our operations. One can argue that through job creation, our site is playing a role in alleviating unemployment and thus a part of the solution. But, ICT can offer Sri Lanka so much more.

Bridging the Gender Gap: Empowering India’s Female Entrepreneurs

Mabruk Kabir's picture

A quiet revolution has been sweeping the Indian political landscape. Last year, the reservation (quota) for women in panchayats — rural local self-government — was increased to at least 50 percent, bringing women into the political fold in vast numbers.

However, economic empowerment may not have kept pace with political empowerment. When it comes to female labor force participation, gender disparities remain deeply entrenched. The 2012 World Economic Forum's Gender Gap Index ranked India 123rd out of 135 countries on economic participation and opportunity.

Engaging the Future: Conversations with Global Youth

Mabruk Kabir's picture

It is hard to talk about South Asia without invoking its demographics. The region will contribute nearly 40 percent of the growth in the world’s working age (15-64) population, and will need to add a staggering 1 to 1.2 million new entrants to the labor market every month for the next two decades. Absorbing the influx of youth into the labor force is one of South Asia’s core challenges. But while economists grapple with employment statistics and economic policy, jobs are created at the grassroots. Entrepreneurship is the spark that lights the fire, and the engine that generates opportunities in local communities.