OFFICIAL LAUNCH OF WECREATE | VIETNAM

October 27th, 2016|Comments Off on OFFICIAL LAUNCH OF WECREATE | VIETNAM

The Women’s Entrepreneurial Centers of Resources, Education, Access, and Training for Economic Empowerment (WECREATE), an initiative of the U.S. Department of State, was launched in Hanoi on Friday, October 21st, 2016. The development of the WECREATE center in Vietnam was announced by U.S. President Barack Obama during his historic trip to the country in May 2016, the U.S. Embassy in Hanoi said in a press release. The inauguration ceremony was attended by U.S. Ambassador Ted Osius, WECREATE Executive Director Nguyen Thi Tuyet Minh, Vietnam Chamber of Commerce and Industry Vice President Doan Duy Khuong,  Vietnam Women’s Union Vice President Tran Thi Tuyet and Mr. Ousmane Dione, World Bank Country Director. The WECREATE centers will serve as an entrepreneurial community center for women interested in starting or expanding an existing business. WECREATE | VIETNAM is the second of five centers in the world. “This center will influence many lives, which in turn will help Vietnam to not only continue to achieve growth, but also to achieve growth in a way that sustains and protects what society values – the health of the environment, the well-being of its workers, education and the means of creativity for a young, dynamic, entrepreneurial population,” said Ambassador Osius during the launch. Women entrepreneurs are integral to stable and thriving formal economies, but often face barriers, including gender-based, cultural and social discrimination, so WECREATE centers are designed to be where women can access essential resources needed to overcome these barriers and start or grow their businesses. WECREATE | VIETNAM will help to connect local entrepreneurs with mentors in private companies form and develop business skills and ideas which in turn will feed into the local economies. Members of the WECREATE community have full access to mentor and coaching networks, business building programs, co-working spaces, Incubator SpaceNetworking & Events, visual thinking tools, and day care. The WECREATE center also houses the StartUp Academy, which is acapacity building program for women business-owners which supports them in transitioning from operating in the informal economy to formally registered companies.  

The 98% Entrepreneurship Reality

October 14th, 2016|Comments Off on The 98% Entrepreneurship Reality

An Entrepreneurial Renaissance There is no question about it. It’s an exciting time to be an entrepreneur wherever you live in the world. There is more attention being given to entrepreneurialism as a viable career path and way to innovate than at any other time in history. We are at the beginning of a full-blown entrepreneurial renaissance. Organizations and programs that support new technology companies to launch and gain access to the tools, resources, and capital that accelerate building scalable, high growth businesses are being introduced on a daily basis. Startup programs like Startup Weekend, Lean Startup Machine, TechStars, and YCombinator are highly successful at filtering large numbers of technology companies with mentoring and funding designed to test their business models in an effort to grow big, fast. Let’s face it, you are hard pressed to go a full day without being fed a news story about a technology company that has raised their first and second multi-million-dollar investment or the latest IPO making the founders into millionaires and billionaires. Very exciting times indeed. At least for those that are able to turn their startup into piles of cash. Over Promoting Unrealistic Behavior There is a little known fact behind every startup story that puts a newly funded company on a pedestal, and very few people are talking about it. What is this little know bit of information? Only 2% of all startups are funded by angels, accelerators, or venture capitalists. Let’s state this in a different way so that it will fully sink in. Only 2% of all startups have a business model, experienced team, connections, and scalability, usually technology based, to raise money from investors. Funding is for the elite. More and more the funding is going to ivy league college graduates and teams that have a proven track record of generating huge returns for investors. This means that 98% of all entrepreneurs and startups are not gaining access to the tools, resources, and financing opportunities that will give their new company the opportunity to grow. It’s Not Always a Technology World It is time to think different [...]