 Well, welcome to everyone here in Davos and those of you around the world, particularly the global shapers community, the next generation of leaders, some of whom are here, some of whom are going to be joining us on a hub and others who will be joining on their laptops or their smartphones wherever they are or wherever you are in the world. It's about creating 75 million entrepreneurs. Why do we say that worldwide? Well, because that's what the UN estimates is needed because 75 million of the next generation, the young people are unemployed at the moment, the vast majority relying on small enterprises to join the workforce. So we want to get to the root in the next hour of how you cultivate an entrepreneurial mindset at an early age. How possible is that and who has succeeded so far? What about redefining risk in career assessments and planning? That's critical at every age, whether you're young or middle age. And thirdly, what about building entrepreneurial ecosystems? Well, to get the discussion going with the audience here and around the world, we've got a number of people who are going to join us in a moment. But what's critical here is that it's the small businesses, those under 50 people in a company, the new startups, the innovations, they are where work is being discovered, where work is being created. The question is how entrepreneurial will people be? How well qualified will they be? The trouble is certainly while that has been a great success over the last few years, in the last year or two, there's a sign that there's a fall off in the number of companies, the number of startups, the number of innovations which are coming forward, making it even more difficult probably to get 75 million new entrepreneurs. A reminder, that is the UN target. It's ambitious. Who have I got here? Well, I'm joined by Edward Tai and John Hawthorne. Welcome to both, and I'll come to the hub in a moment around the world. Eddie, Tai, what do you do? Give me 30 seconds on your background. Sure, I'm a global shaper from the Ho Chi Minh City hub in Vietnam. I'm also a venture partner with 500 startups. It's the most active seed stage venture capital fund based in Silicon Valley. I work primarily on Vietnam investments, and I also help advise corporations and ecosystems on, excuse me, governments on ecosystem development. Are all the 500 startups successful? No, not all of them, and that's expected. We have invested actually now more than 1,400 startups around the world. So we do believe that innovation could come from anyone, anywhere, but it takes work and some not always successful. John Hawthorne. I'm John Hawthorne. I'm a YGL. I'm based in Boston and I run Mass Challenge, which is the most startup-friendly accelerator on the planet, and also one of the largest in the world. We do 128 startups per program in Boston. We just launched a London program, and this year we're launching Geneva, Jerusalem, and Mexico City, and we will keep launching them until we touch everybody on the planet. We don't take any equity from startups. We don't take any revenue. We take nothing from startups. We just want to promote more entrepreneurship, more innovation, help create these jobs and wealth, and growth, and solve problems around the world. And we're a nonprofit that doesn't take any equity. We're funded by the corporations, typically, some government money and some foundation money. Just a reminder, you can always contribute to this discussion by going to hashtag-shaping-jobs. I'll put it up on the screen in a moment. Let's go to the four hubsters, I might call you. Give me 30 seconds on your background. Let's go to Muscat, first of all, to Shabib Al-Mahmadi. Hi, everyone. This is Shabib. I'm the executive director of Fingers Romana, a nonprofit organization. Part of Junior Human Worldwide established back in 1919, 120 countries, 100 billion youths, participated in INGAS and JA programs, Interpreneurship Financial Literacy, and Work Readiness is what we concentrate on. All programs are for free. We're funded by corporates and private sector volunteers conduct the program inside a classroom premises. All right, let's go to Al-Kobar, to Ines Al-Ashkari. My name is Ines Al-Ashkari, I'm the chief operating officer of Ramco Entrepreneurship Center, which is a wholly owned subsidiary of Saudi Ramco. Our mission is to provide entrepreneurial support to the entrepreneurial community in the kingdom, to be able to diversify away from oil and gas and promote the economic development of the kingdom. We provide non-collateral loans and we provide entrepreneurial support, development support from training, mentorship, coaching, and we've been in existence for about five years now. All right, let's go to India. Thank you. To M. Nagarajan, in Ahmedabad. Hi, I am Nagarajan. I'm a career second servant. I belong to the Indian Administrative Services and I'm probably the odd man out here and I work on bottom of the pyramid solutions and we look at entrepreneurship and startup as an opportunity to raise the lives of 1 billion people of India and the digital provides an opportunity to impact the every aspect of life and we have been trying to do hubs for rural entrepreneurship and also divert the attention of entrepreneurs in these cities to problems that touch a billion people of India and the startup India program that the government of India has unveiled would like to take it to the ground. All right, thank you. That's Ahmedabad in India. Let's go to Akra in Ghana to Bright Simons. Hi, this is Emanuel and I am representing Bright Simons. I am a member of the Global Shapers Community in Akra Hub. I'm also the Director of Digital Innovation for the Broadcasting Board of Governors and Impact Hub Akra, Office of Digital Innovation. Impact Hub Akra is one of 70 global impact hubs across the globe and locally what we do is to accelerate, give support and groom entrepreneurship across the continent. So I'm excited to join in the conversation as well. Emanuel, thank you very much indeed. Right, now let me give you that address again. It's important for those of you here to contribute because I've got an iPad here or should I say a tablet, a tablet which will help me get a sense of what you're saying as you watch this discussion. The address is hashtag shaping jobs. Hashtag shaping jobs at any time from now on and we'll curate it here in Davos. Right, 75 million jobs. Now, neither of you is going to create 75 million jobs. 75 million entrepreneurs and there it is, the hashtag. What's your view about how doable this is, Eddie? I think it's very doable. I think the panel is misnamed. It's not can we create 75 million entrepreneurs? It's simply how 75 million is 1% of the global population a little over than that. So I think many people, if given the right opportunities can do so but obviously they need to be provided the right toolkit within themselves and the society around them, the mindset which we'll go into in more depth. Excuse me, the training required to develop a successful business that can scale, obviously access to capital and then finally regulatory, proper regulatory environment. So it's a lot of pieces that make a startup ecosystem work. Silicon Valley obviously does it well but I think you can put the pieces together in any city with the right willpower. Help us understand the mentality which generates entrepreneurship. Can you define it? Are you born with it? Does it have to be developed? What? Maybe some people are born with better skills in some way or than others or more willingness to take risks but I think it can be fostered in anyone. And so that's point number one, the willingness to take risks. That starts from an early age. You can't just be born with it or without it being encouraged by your parents or whomever is taking care of you to be willing to take risks, to be willing to fail but obviously also very mindful about learning from the failures. Having that kind of encouragement early on as opposed to what we often see in Vietnam and other parts of East Asia, the mindset of failure being a bad thing, of always having to strive for, for example, strive for perfection in school. A quick anecdote, when I was in fourth grade, I brought home a progress report and I had a 97% out of 100%, which is an A range and my mother asked me, why is it only a 97? Why didn't you get 100? So that comes from her, you know, Vietnamese. All right, we'll explore that in a moment, John. 75 million, what's your view of whether 75 million new entrepreneurs and that's the current figure can be created? Absolutely, it can definitely be done. You can definitely foster the ecosystem so it won't happen by default. What do you mean by the ecosystem? So there's a whole ecosystem that surrounds the entrepreneur that is necessary in order to support them. There's the funding aspect, there's the government, the legal infrastructure, there's some source of other ideas and inspiration often universities, but it could be in different environments from different sources. You have the press and the media have to care enough about startups that they cover it and make heroes out of the success stories. The corporations and the businesses have to play a role in that as customers or as sources of funding or mentorship or advice or maybe talent and then you have entrepreneurs themselves, obviously, right? So all of those pieces have to come together in the community, but the beauty is startups help everybody. Everybody wins when startups are growing, they create jobs, they create wealth, they solve problems. So all of those components should want startups, they may not know it, but once you plant that seed, it's almost unavoidable that they will begin to support it and foster it and it takes off. And I think it's absolutely doable that you can train people to do startups. And I think the key is you have to inspire them to do first and once people understand and are part of the startup world, it's almost like a virus. You can't get it out of your system. I could never go back to working for somebody else now. This is, you get too passionate, too inspired, too excited about the opportunity to solve problems and improve the world. You really can't take that back out of the bag. It's just done. I can just jump right in there. Actually your last comment hints that the possibility that not everybody in a society necessarily wants to support startups. I mean, if I'm a large corporation that's already making a lot of money doing what I do and I can just sit pretty, maybe I don't want startups to change the way I'm doing things. Maybe I don't want startups to pull my best talent away. So the lazy and the complacent may not like startups because they're disruptive, but the corporations that are smart should like them because they double the size of the pie. The key thing, the key realization in my head is this, is that most business strategy is focused on how do we fight other people to get a bigger slice of the current pie, right? How do I take more from my customers, my suppliers, my competitors and get a bigger slice of the existing pie? But what startups are about is doubling the size of the pie. And everybody can keep the same slice and get twice as much pie. Or you can invite more people in and have a more inclusive society with more people. But both of you, let me come back to this idea of when does the entrepreneurial spirit start? Is it the age of 10 just selling things to your friends or does it come in high school? Does it come in university? I think there's a capacity as you know, that certain people have a higher capacity for it and that will show itself in childhood. But I think you can foster it even in people that don't have that strong capacity just as anybody can be a runner. Not everybody is gonna win the Olympics, but everybody has the capacity to run. And if you inspire more people and you train them, then they will get faster and they will get better runners. Let me give you an idea of the kind of reaction we're already getting quite a lot of tweets coming in. This from Matthew Machana. It is possible, and he's talking from Africa, the question is how will this democracy in every stage on planting new ideas into action actually end? In other words, he's saying there's a kind of bureaucratic authoritarian mindset. Is that something you faced, particularly in a place like Vietnam? Yes, absolutely. How do you get over it? It takes time. There needs to be dialogue to discuss with officials, understand what it is that they're worried about. Are they worried about being less able to manage their society, their population? Are they worried about resource pool? Do they have the existing stakeholders whispering in their ear that the pie cannot expand? Over time, each of those elements can get pulled apart and officials can be seen the higher opportunity, but it does take time. So that bureaucratic obstacle. Yeah, I would say entrepreneurs are often like water. You just kind of flow around that obstacle and build your own thing. You can ignore it. Yeah, in some cases, there are certainly, I mean, there are some totalitarian regimes that are very difficult to underwitch to operate. Are you talking about the United States? I mean, because the amount of legislation there is in the United States and Western world is quite extraordinary sometimes. Yeah, it can be absolutely right. And in the US, there's a lot of regulation that is very harmful to the innovation space. The visa is a massive problem in order to attract the right types of talent. And also it takes too long to set up a company. It's too expensive. It's faster in the UK. It's faster than most of the rest of the world in the US, but still it's a burden. So I agree it can do a lot better, but I don't think that the regulation stuff should be an obstacle for most entrepreneurs. The core essence of an entrepreneur is a desire to overcome problems. Problems are an input for the entrepreneur and solutions are an output. So a system that's rife with problems is actually a pretty good market in which to find fixes. All right, we're going to our four hub locations in a moment because they've been doing a lot of work before they came on to this broadcast, collectively within the hubs to decide what initiatives are needed. Now, there is one other question already which has come in from Salma Al-Haraqi, how can we, I don't know where she's from, how can we promote entrepreneur education in schools? Obviously there are schools and there are schools. There are those who promote opportunity at every stage, but those who are struggling to even provide basic education, John, you're nodding. So yeah, and I think this is a problem also in the US school system, which is not that good at this. But one of the core problems is that most educational models are designed for an expert to tell somebody what the right answer is, to teach them directly at them didactic. And actually the entrepreneurial mindset is one where you're not quite abandoned, you're given structure and a format and opportunities to solve problems, but you should be putting more of the burden on the child to learn and express on their own how to think critically, how to break things down into pieces and how to solve it without a lot of guidance because the hardest part of being an entrepreneur is you're forging new ground. Nobody knows how to tell you what to do if you're doing something radically new and you have to have comfort with the ambiguity and the complexity of doing something radically different, feeling very alone, most people think you're crazy, you might be crazy, you don't really know if it's gonna succeed or not and you have to be willing to do that anyway. And so I think the educational model should shift more towards giving open problems to solve, not quite as structured and didactic, but really teaching kids how to ask the question, not just develop the answer within a defined little box. So Eddie, an acceptance there are limits to the education system, it's gotta be much more. What's your view on that? I agree, and I think particularly coming from an emerging market like Vietnam, we see that there's a lot of movement that has to happen from the way, at least the public education system is designed now, sometimes purposefully, versus where it could be to help foster more entrepreneurs. So actually in Vietnam, what we see is a lot of extracurricular services or offerings being provided. We also see some social entrepreneurs developing games to try to gamify this element of teaching that they cannot get in schools. But ultimately, the key element that opens the door is, at least in Vietnam, is English training. All right, here's one from Dar es Salaam, from the Dar es Salaam Hub in Tanzania. If all things are in line, this is from Lillian Sechilela Madejie, if all things are in line, i.e. training, access to capital, regulatory framework, but no mindset, can we reach the goal? That's for more mature, I would say teenagers in the early 20s. I think it starts with the mindset. The mindset helps you get around all these other problems. Define the mindset, help us understand the mindset. Willingness to take risk, ability to take any sort of problem and structure how you think about a solution. The realization that you can't sit at a desk and come up with a solution, you have to kind of go out and test things and learn from that. Bias to action is another one. Like there's too many people that will just sit and think on a whiteboard and come up with a brilliant, beautiful solution that's totally divorced from reality or how you would execute it. So you have to be willing to say, great, let's do it right now. Very rapid sort of move towards the field. And then, but still being open enough to hear back from the field. And when people tell you it's wrong, that you can learn and adapt and modify the model. And I agree completely that I think it starts with the mentality. So is conformity a real obstacle at the moment? Yes, I think conformity is the sort of the opposite of entrepreneurship in a way. So that is a challenge. So how did two guys like you come through? And there are others in the audience here who are young females who've made it through. But why do you think you've come through if actually the system is rather conformist and conservative? For me, I felt like, and I've had an extremely easy life, especially from a structural perspective, relatively wealthy white male from the Boston area. I've had no major strategic obstacles in my life path. But I kind of never really felt like I fit in. I didn't really like authority. I didn't like, I always, I went to a private school and I thought it was a kind of a totalitarian regime. Obviously this is, it was very soft. I had a cushy life. But for me that I always felt like I had to rebel against it. I didn't like the way I was taught. I felt like there was always a better answer. I wanted to be independent from the system and the structure. And so I always just sought my own path. And then I found that I really liked my path better. So you've got to be rebellious. Yeah, I think so. For me it was rebellious. School teachers don't like. Yeah. Similar, actually. The idea that I had nothing to lose in that particular, for my case, it's thanks to my. But are you telling me in class you even said to your teacher or whatever I've got nothing to lose. I'm going to rebel. Oh, well, I mean, I did stand up in high school to my principal and ask why wasn't he doing more about a particular issue. He's plainly upset, but it's the US education systems obviously quite different from. Because that's important to understand the answer to the question about mindset. Yes. About conformity. About how the system maybe doesn't prepare people to become entrepreneurs. I guess for me, I don't know how much of it was instilled from my parents and how much maybe I was born with it or some other thing, but kind of at a higher level. I looked to where could I make the most impact. And I looked it up all around the US and doing either typical jobs or typical traditional markets in the US and I saw, hey, you could replace me with anybody else and probably the same exact thing would happen. All right. Right. Let's go to the hub now and to the fore, to Muscat, to Alcoba, to Amitabad and a crop. Because there's one question here. How do we encourage youth to take risks and take the first step? That from Nirmid Kacheria. I don't know where Nirmid is. But let me ask you, because you've been doing work within your hub groups of global shapers, let's go to Muscat, Shabeef Al-Marie, to ask the question about the two main challenges now, to promote entrepreneurship and young entrepreneurs in a community like, say, in Oman. Shabeef. Yes. Part of it goes back to what your guest has been saying about creating a healthy ecosystem. And for us, we have to tackle educational system here, not only in Oman and the entire region. There is a huge gap between what the market needs and what the educational system provides. And again, one of the challenges we are facing in the region, everybody is working in silos. Academics are working in silos. The private sector are working in silos. And the government is stuck in the middle trying to figure out how to solve all these challenges. We've kind of seen a big change after the 2011 incident across the region. There is a real will to change. But there is a lot of groundwork that needs to happen. And to me, in my opinion, needs to happen ground at the root, grass root level in our educational system. But where in our educational system would you start if we talk about entrepreneurial education? Is it the teacher? Is it the curriculum? Is the private sector needs? Is it marketplace identification? It's all these elements that we need to identify, tackle one by one, and then work gradually into the higher educational system in identifying the potential opportunities in the marketplace. I'm looking at the chart just before we started about the population here in GCC. And Oman is no exception. Between 50% to 65% of the total population are expats. And expats are here to work. We have a lot of opportunities. But then we have the mindset problem where the majority of our graduates wants to work for the government. And they don't prefer working for private sector. Let alone start in your own business. And start in your own business. It's all a different story here in the GCC, I would say, region where you bring up the capital. You can take a loan from the government or from one of the banks. And then you hire an expats. And they run the business. And you become what we call here in the region a sleeping partner or your cash in, while someone else is working hard. This is going to change. Rain soon, the population is growing. 65% of the population is under 25. Majority of these youngsters are going to join the marketplace really soon. And they need jobs. Government can't hire all these people. Private sector is not going to hire not qualified graduates. And all the studies show that 45% to 65% of GCC graduate lack the basic skills of what does it take to be successful in private sector. Thank you very much indeed. Let's stop it there because I think there's going to be a degree of overlap with all the hubs. And I don't want to take you to take away all the initiatives in Oman. Let's move to Saudi Arabia. And here's one question from Katie O'Waire. How can we ensure that entrepreneurship is not just for the brave few? Well, I know Sal Ashkar. You're in Al-Koba. And you actually work for the biggest company in Saudi Arabia. But the important thing is also you're a woman. What is your hub saying about opportunity entrepreneurship? Yeah, so opportunity really, as mentioned by Shabib, it's different parties that have an impact on overcoming these obstacles and ensuring that these opportunities are available, such as the centers that provide the funding, the support, the training, and the development. But I think the most important thing is really comes back to the individual. And especially here in the kingdom, you'll find that the culture here is quite risk-averse. And that's one of the main obstacles, not taking into account the regulatory challenges and so forth, but really the mindset and the risk-averse culture where the preference for individuals is to really secure a corporate job. And typically, this is in preparation, especially for a young graduate, to almost a prerequisite to getting married, which is also part of the culture here, is to go into a secure job in preparation for a family and a life. But I think really what's missing is not only the family support and overcoming that, but the individual mindset of not having to line out the approach of taking the lead. The desire is there, the motivation is there, and we see it with individuals, we see it with the youth, we see that they have dreams, they have aspirations, but then there's that hesitation to take the bold step. And in many cases, you'll find that the hesitation is because of the fear of failure, mainly since the scope of unknown is quite wide. But really what needs to take place is a change in thought, a change in mindset, sort of like the lean startup approach applied to the individual where, just being able to take a miniature project and go through the experimentation, the trial and error, gain the confidence while keeping the security of a secure job. Ines, I want to come in at that point because first of all, because you're a woman and because of the challenges, particularly in the kingdom until very recently, but secondly, let me just put it to you that Saudi Arabia at the moment with the drop in the oil price is facing a significant problem of cash liquidity. That means there's going to have to be more entrepreneurship and there's going to be less handouts from the state. Is that going to change the mindset significantly? I believe so. I mean, you just hit the nail on the head. I think this pressure is quite healthy for the ecosystem. It really puts a pressure on all levels of the government, on society, on individuals to try to make something out of this industry where we're highly reliant on the oil sector and having this instability, if you want to say this instability of a future for the kingdom, really puts a pressure to open up and diversify for other opportunities. Ines, thank you for the last five years. Thank you very much indeed. Let's move now to Ahmedabad, the capital city of Gujarat. Welcome, and of course, the capital city of Gujarat which is where Prime Minister Modi comes from. Nagraj, welcome again. Now I've got to put to you first of all, I want to know what your group has come up with and what it is saying, but you are a bureaucrat. There are people who say that bureaucrats like you get in the way of enterprise. So, the Ahmedabad Global Shapers Group did a survey with the entrepreneurs asking what is it that is giving them an obstacle and as you know, India is a land of challenges and also the land of opportunities. So the main obstacle as seen was the procedures which were very cumbersome and it was taking time to start up and a lot of running around the offices. The other is the ecosystem expansion in terms of geography and also in terms of diversity. And last week, our Prime Minister who is the sort of entrepreneurial thinker himself released the startup India plan and there he has categorically committed that we will reduce the procedures and you can start give a startup with a mobile application. So hopefully that will solve the major problem. But the numbers Nagraj are enormous in India. There are many who are very computer literate, very digital literate, but they can't find old fashioned jobs. This ability therefore to create an enterprise spirit which creates some kind of career like we've heard from our two main guests here in Davos. Yes. So it's a billion plus opportunity. How do we convert that is to create a hub of entrepreneurial ecosystems the way Davos is doing here like we are connecting from the hubs. So we will need to have entrepreneurial hubs in every district of our country. It is like 600 districts in India and also ecosystem diversification. Tell the entrepreneurs about the opportunity that is existing. Even today we had a discussion and we identified many types of startups like lifestyle startups, small business startups, scalable startups and the most vanity once the viable startups. There are even corporate startups, social impact startups and finally government startups. So we need to have variety across all these things and get people work on problems that are affecting the billion plus bottom of the pyramid solutions. Then we can be solving the real problems and then which will make it viable and scalable. All right, Nagraj thank you very much indeed. Stand by, let me go now to West Africa to a cry to Emmanuel Garner welcome. Let me Emmanuel I want the same answer as I've asked from all the other hubs but let me put into the mix this comment from Tonya Cole. Where do you start educating the youths on entrepreneurs? Is it with the teachers, government or policymakers? I've met a lot of new startup new entrepreneurs in Ghana but they're also very frustrated. Yes, incredibly so thank you very much for the opportunity. So in response to the first question I think all three are key, all the stakeholders are key both government, policymakers especially young people coming through and we need to meet the demands, job demands and development demands of our country. So when we had our session last week we spoke a lot about social impact about entrepreneurship and filling the void and we had a West member our founding curator Mr. Ruben at TechBail in the COVID group talk about opportunity and the time of crisis. So for us to have young people who are trained and tuned to realize that that's an opportunity and crisis and situations we're going through as we speak right now we do have some challenges with power and that has affected greatly the entrepreneurial landscape in the country. That's something that a lot of the entrepreneurs spoke about in terms of then what needs to be done to fill in that gap. Locally, we've also spoke about two things one of the most interesting thing is in Ghana as a country, we're English speaking a stat that was out there is that Ghana possibly has the most Microsoft certified people per capita in the world. So we're definitely trainable and you can see that with a lot of times in terms of the spotlights that we see coming out of the country, CNN and the Asuka series Ghana always has some type of positive story showing this but one of the things we're struggling to deal with is taking advantage of local expertise. So a representative from in pedigree spoke about how we've been trading an entrepreneurial for centuries. Most of our commerce or our economy is really supported by buying and selling and trade commerce but we have to have one, an understanding of local enterprise on the continent so that how do businesses thrive and how do we make money and then two, understand how we can scale companies so that we have companies from Ghana, from Africa becoming global giants just like we're seeing like how do we template that so we can have Walmart and other things be asking countries or we can have NAND bills that is a Ghanaian local e-tree that's gotten to that size. Those are the things that we spoke about and we spoke about the youthful population being a strong point and so even within our hub a majority of our members are entrepreneurial have different businesses and we're trying to be innovative in that space but we're marrying the difficulties or gaps in infrastructure so electricity, so financing so policy that makes it easy for entry so technology that allows for easy transaction and payments and then barriers of entry in order to scale so that we become global companies those are challenges that we face but we're more than excited to be able to solve them. Well, thanks Emmanuel. Yes, I heard an entrepreneur from Ghana recently saying I've got a great business but I only get electricity for two hours a day. It is a challenge but we're finding ways around it so as I speak with you now and I'm finding ways around electricity challenge with and burn, with generating some power and there's a business opportunity so for those looking to partner as well, we're open. All right, fine. Look, we've got several others who are global shapers and who've created their own business. Let me come to the front row to Matzee. Yeah, you won't be able to see her unfortunately because she's got her back of her head to the camera but go ahead and tell us what you do. Matzee Mudisa from the Soweto Hub in South Africa. I run an industry association called Simodesa Startup and it's about building South Africa's entrepreneurship ecosystem but my question is more, if you had to look at the top 10 ecosystems globally, there are four American cities that feature so the question is, I mean, namely Silicon Valley being the first Los Angeles, Boston and New York, of course. So what is a secret source? How do you get it together? But just tell us how difficult is it still being a young entrepreneur in South Africa? Well, in South Africa, the function is it's very difficult if you have a segregated ecosystem. South Africa within most of the African countries has a lot of key ingredients to make for a successful ecosystem. However, they don't speak with one voice. You know, the government, the private sector, everybody is not integrated. So it's very difficult to measure the impact and it's a function of how do you consolidate and collaborate in our efforts so that it's easy to say, this is where we are as a country. We have 25% unemployment, 62% of the young people are unemployed. It's a function of how then do we create this ecosystem that's going to be enabling. We have the key ingredients. Let me just pass it along to two others as well, please. Where are you from? I'm from Dar es Salaam, Tanzania, Dar es Salaam hub. Maybe to take it, how challenging is it? So I work with small-medium enterprises in Tanzania and one of the challenges, I can just give a case and study, a lady called Mersege Tomari, she has an ice cream and gelato making business. It's called Nellis. And it's been featured in CNN, I can start up on BBC. But behind the scenes I do coaching with her is that we're still challenged in getting funding for her to expand. Background on that one, she had a challenge in that she had a partner beforehand. She did not know the legalities behind it. Now she cannot get away from the partner but the partner is not invested in her business. So all of these things are still challenges in terms of there are budding entrepreneurs but then all the things in terms of the ecosystem when we look at, so the mindset, we do have to nurture that and grow that because it's not there, but then we still have all these legal, we have access to capital and et cetera. Well, let me bring the spirit of that together and talk to Eddie and John about that because two other questions here which have come in on the hashtag from Omar Albright, what is the biggest struggle and challenge for future entrepreneurs? And secondly, from Tariq Buhalaga, do you believe there is some sort of formula to becoming a successful entrepreneur? That's from Saudi Arabia. On the first point, I think entrepreneurs in the near term, especially around the world in emerging markets, very clearly those of you and tuning in through Skype as well, you know, it's the regulatory frameworks. Most of these emerging markets are not ready to have such disruptive companies come online in split seconds. So you heard about the physical business from a manual in that crowd, just the basics of electricity or water. Yeah, those as well, but I mean those are, you know, entrepreneurs will solve those problems. It is much harder to solve the regulatory problems. So they either have to wait for, you know, try to push for the regulations to change or try to work around them. In the US, many people who support startups say, oh, just go around the legal and handle it later, but many emerging markets entrepreneurs don't necessarily have that luxury. We've already had cases in Southeast Asia where the government has tried to shut down the equivalent to Uber in Indonesia, the equivalent to NineGag in Vietnam for not obeying the regulations. So I do think most of these 75 million entrepreneurs around that we can create in the world over the next several years, I mean just statistically ought to be in emerging markets rather than emerged markets, but it's emerging markets that have this key roadblock. Let me talk about the psychology going back to the point from Muscat from Shabib there, the fact that most people in his country in Oman say I want a job with the state because the state will look after me. The business of the psychology of accepting failure, you've had 500 startups Eddie, John you're nodding as well. The fact is you've got to accept that many of the things you do may not work. Yeah, absolutely. So there's a tolerance for failure is a huge part of it. And then a lot of it honestly is what will your family tolerate, right? So in a lot of markets that we see people say, well my mom would never let me go. Like literally you'd be disowned from your family if you don't go to a big corporation because that's the safe, easy path. And that's what the moms want to say that their son is doing, look how great he is. He went on to Mitsubishi or wherever or what their daughter did that they followed a more traditional path. And breaking that traditional path is very difficult. There's real, real personal social network obstacles to doing that, that's a huge problem. And so how to overcome it? Well, it will take some brave individuals to just break the mold and do it anyway. But I think one of the keys that we can do consciously, key steps we can take is to celebrate success stories and also celebrate attempts that may not work. So you've got to have symbols of heroes. You've got to have heroes. You've got to have heroes. Think of this, children will play soccer until it's too dark to see, right? You don't have to teach them. You don't have to make them go to school for eight hours to do that. They will just do it. And why is it? Well, sure soccer is fun, but look on television all they see and there's jerseys, people wear jerseys with soccer players' names on them, right? They're heroes. Everybody wants to be the hero. And if you could wear entrepreneurs' names on the back of people's shirts and they were celebrated on the news every night and you saw them on TV and on billboards, people would want to be that person too. All right, let's go to Gaza to Asma Abu Mazid. Very difficult to do anything in Gaza for various political reasons. Let's not go into that. But how do people survive? You're of the next generation. You've been through Hellenback probably in the recent years. But how do you create an entrepreneurial spirit in an ongoing security quasi-war situation? So it's very difficult to talk about entrepreneurship and ironic in the same time, because to people in Gaza, especially entrepreneurs, it is the hope for them to find job opportunities. But they've got to create them, haven't they? They have to create them, especially they have like, there are 45% of unemployment. So the government is not actually employing and the private sector cannot actually tolerate like employing people. And what is also ironic is that the actor who's leading the entrepreneurship movement in Gaza are international organization, which is employing large percentage of the young people. But my question, and it's a question to everyone, how we can, the challenges that an entrepreneur in the US is facing are challenges that is multiplied 10 times by an entrepreneur in a conflict area or in a refugee camp. Although entrepreneurship is a very empowering tool, how can entrepreneurs in the US or in China or other countries that actually made it help these entrepreneurs in conflict areas to go through their struggles and build the ecosystem? Yeah, I mean, that's, obviously neither of you got that kind of experience, but when you look at the refugee crisis, many of those camps are going to be there for generations. Absolutely, and create a new ecosystem. It's incredibly difficult in those kind of situations and a lot of empathy and sympathy. Because there is a question here from MSME advocate. I'm not sure actually who it is. I'd want to know what developed economies can do to support developing ones in supporting the 75 million drive. But in refugee camps or those in deprived areas, there are those who could make great entrepreneurs, as we're seeing in the micro-action of Christ in Britain. So we're launching Mass Challenge Jerusalem and we will support both Arab population and the Jewish-Israeli population together in Jerusalem. And so that's one opportunity where we're literally going to go and try to help. What does that mean then? So we'll run an accelerator there and we have partners in Israel proper and in the Palestinian Authority and in the West Bank to identify high potential ideas, opportunities, early stage businesses and then bring them together in Jerusalem. So acting as a kind of broker there. Yeah, well we act as we aggregate them together and then we connect them with mentors, resources, equipment, office space, experts, potential customers in the form of companies, corporations, we give prize money. So there's opportunity to get access to the resources. To the prior question of what's the most challenging thing, it's often aggregating resources. You have a great idea but you need a little bit of money to get started or you need access to one person that you have to have a meeting with to get their input on the business model or something and getting access to those resources is really challenging. So that's what we do is provide those. We also are looking in Berlin where you have this Tempelhof Airport which is a massive airport originally built by the Nazis that became where the airlift landed when the Americans were saving and the British were saving Berlin. And now it's beloved by the German people as the symbol of friendship with the Americans and the Brits and it's empty but they're filling it with refugees from Syria. This is where a lot of them are being housed. And so we are talking with the Berlin government about could we run an accelerator there to help harness the intellectual power of these refugees and give them an opportunity to actually convert that knowledge into action. You think, I think Steve Jobs's family were Syrian immigrants to the US. So think of the opportunity to create the next apple. There's massive talent that's just totally wasted, hidden, lost because of lack of access to an opportunity. But Johnny comes down and Eddie comes down to that massive number of 75 million creating entrepreneurial opportunity. They've got to create it for themselves or within a small enterprise or with innovation or within startups. You say it's doable but the numbers are frightening. They don't seem frightening to me. We believe again, as I said earlier, that innovation can come from anyone anywhere. I think a lot of the innovation attention has been on unfortunately just a few cities here and there around the world. 500 startups is trying to break that. We have investors and staff in 20 different markets. We actually, Dave McClure, one of our co-founding partners visited Israel and Gaza just a few months ago. And so there's an observation there that there are awesome entrepreneurs all over the place already. There are awesome entrepreneurs that can be developed over time. The US investors and other resources and other parts of the developed world can go out there and just spend a little bit of money and attention and foster so much expansion. Right, let's give one more clue from this opportunity. One more, where are you from? I'm from India. What's your view on this? Are you an entrepreneur? Yes. What do you do? What do you do? I'm a global shaper. My name is Aditi Gupta and I make comic books to teach girls about periods. So that is what I do. My view on this is that when we were talking about mindsets for young people to do more of entrepreneurship, I think the mindset of families needs to be changed to and we need to find strategies because what I see in India is that parents are really fearful of letting their child or letting their kids go and do businesses. They would stop, yeah, you are completely isolated. They want you to do jobs in all these companies and I think startups are doing quite well in India. We are having an amazing entrepreneurial culture with our prime minister talking about stand-up India, start-up India. We see startups as the way forward for creating more jobs. Right, thank you. Right, what I want to do now is go to the four hubs because you've given us some idea of the way forward or as you see it from your countries and from your state as in India, what kind of ask do you have of Davos and those gathered here? Do you get a sense that what is being discussed or will be discussed? Will I have any relevance to the kind of solutions you would like to see where you are? Shabeeb Al-Mal in Muscat. Yes, actually Davos can do a lot. From our experience, transfer of knowledge and know-how, there's wonders, especially in the education and the system. And we have a lot of resources and by resources I mean people, human capital. Talk about challenges, talking about solutions that have been working for a while transfer of those solutions to countries in need, to education and system in needs, to government, to policy makers. All this transfer of knowledge and know-how can do wonders in our countries and all part of the world. We have the money, we have the will, but still something is missing and in our experience with India as the junior achievement it's been always the connection between private sector and academia that does wonders and been a success with us at least for the past 15 years. All right, let's go to Saudi Arabia to Enes Al-Ashkar in Al-Kobar. What's your view of what should be being demanded here in Davos? Yeah, I believe that, I mean in today's world we're living in a global village and starting up an enterprise in a country is no longer enough. It's really about crossing the borders, about putting pressure on governments, international institutes to collaborate, to ease startups' ability to scale up across the borders and really just the different mechanisms like Shabib had pointed out from transfer of knowledge to regulatory to all aspects of being able to utilize the international arena for startups. All right, thank you. Let's go to Nagarajan in Ahmedabad in India. What do you think something like Davos with those who are at the peak of their careers and influence gathered here should be doing which might affect not just Ahmedabad, not just Gujarat, not just India, but even more broadly? The startup wave is here and it's happening. How do we make it inclusive and impactful? That is a call that should be built by design in the Davos thinking process. What do you... Give me more detail of what you mean by inclusive. Inclusive means solutions for the people living in rural areas. Entrepreneurs coming from rural areas getting connected to the ecosystem of opportunity and access to everyone for funding, guidance and connect to the ecosystem and support by the government to enable the bridge the industry, academy cap and also increase the employability because we need talent for the startups and also the capital power by the venture capitalist and seed money and basic support by the government with reduced procedures so that it's not just the cities that are happening places, but every district and every village. I would mean it to be for any emerging country in the world that everyone, every part of the society be part of this wave and get empowered and change their lives and destiny. All right, let's go to Ghana, to Accra, to Emmanuel. What do you believe should be being looked at here? There are enough problems in the world, particularly when it comes to what's being led by the Chinese problem at the moment with that sense that another 2008 is looming. But what needs to be addressed here? So a couple of things, and thanks for the opportunity, I think. Thank you. The further... who won't... Emmanuel, I'm going to have to stop you because you're breaking up at the moment. You're breaking up at the moment. Let me come to John and Eddie. Just kill that sound for the moment because we'll try and get you back if we can. Eddie and John, you were both nodding in agreement with virtually everything that was being said down the line and also here in the small studio we've got in Davos. Yeah, I mean, it's not any one piece that makes a startup ecosystem. You need all the pieces to come together. 500 startups and Mass Challenge and other folks are trying to reach out into the rest of the world and offer elements. One thing for the viewers here, I offer you to email me directly if you already have startups at NeedFunding and Silicon Valley Connections, eddie at 500startups.com. Do you want to repeat that? Eddie, eddie at 500startups.com. Put in hashtag shaping jobs, if you want my attention for sure. And those are the kinds of things where we're trying to make it accessible. Do you have to keep changing the address when you keep creating? Don't reveal my secret. It's the same one, don't worry. I'm not going anywhere. So I agree with what everybody has said. I mean, there's huge challenges. These are difficult, but that's what entrepreneurs are good at, overcoming challenges. And if we aren't up to the task to address these challenges, then we aren't worth this conversation. I do think it can be accomplished. You say 70 million jobs are entrepreneurs, but there's billions of people that don't have access to water and food and opportunity. Those problems are crying out for solutions, which is where we will create the jobs. So I think it's absolutely doable. What we want to accomplish here is to meet all the people that can help us to launch more programs around the world. We want to touch everybody on the planet beyond all the populated continents by 2019. Our program in Boston has generated 6,500 jobs in its first five years of existence. And we have 39% of our startups have female founders. So it is inclusive, it works, it's a model that we can replicate everywhere. And the way that we think of it, and I think everybody can put this in their own mind, is that we built MassChallenge to be a factory that creates startups. Think of it at scale. We have to operate at scale. We can't be supporting five or 10 startups. We're supporting 128 in Boston and typically 50 to 100 in each new location that we go to. We have to do this at Mass. And when you think of it that way, you just design it differently. You need to amass a whole pool of mentors. You need to get some capital together. You need to get access to the corporations. You need to have the ear of the government so that you can tell them what friction is in the way of the startups. And then you bring them all together and the fact is they all want it to work. They all win when there's more startups being produced. You just have to convene them and kind of force the conversation. And once you do, it takes off and it works well. John, there's one tweet here from Tonya Cole who says, who pays tribute to you and what you've done. And he says, what you've achieved, very impressive and a wake up call for Africa. I would love to come to Africa with this. We will. It's a big continent, not a country, a continent, more than 50 nations. Final thought in the last five minutes, the issue of sustainability. Here we are six weeks after the amazing COP 21 agreement, climate change agreement. Do you see this as an important area of development and entrepreneurial opportunity? Kumar Manish says, how do we make money and remain sustainable is the biggest challenge for entrepreneurs. The idea that there's a completely new sector opening up here, Eddie. I think we have to be very mindful about these issues, especially environmental sustainability but sustainability in all of its forms, social sustainability and so on. I think that's where this startup movement that's happening all around the world has so much impact to change things. I mean, a lot of it, not all of it is migrating products and services that used to be offline into online services and products that can be delivered at a much lower cost of the environment. There is also a lot of innovation that's not necessarily replacing offline products and services but adding a layer of efficiency. So we can use Uber as an example, taxis hanging out looking for passengers, wasting all that gas versus on demand at managed network of drivers. That's definitely a better for the environment. And John, jumping technology, jumping generation, jumping mindsets, the issue of sustainability. I think, yeah, I agree that I think technology is the answer. I think that startups are the answer to sustainability because they can operate much more efficiently and they can be specifically targeted at reducing waste, increasing, optimizing energy generation, distribution, et cetera. So I think this is the answer. And that optimization will come with some loss. So Uber will displace some taxi businesses but on the whole, I think in the U.S., for instance, Kauffman Foundation did a study and over the last 20 years, new businesses less than five years old were responsible for all-net job creation in the United States. They all come from small businesses. Big businesses consume jobs because they convert labor to capital. That's the natural path of a big business, trying to save costs, remove labor, get a robot that does it instead. But when you're a five-person startup, you can't afford that technology. You have to do it with labor. All right, we've got two minutes to run. Thank you very much to all of you in the hubs and also those here in Davos. But let me, in the last 90 seconds, ask you, Eddie and John, what are your takeaways from what we've been discussing here in the last hour? We probably haven't created any jobs. But on the other hand, have we given indications of how those 75 million new opportunities can be created whether you're in a rich country or one of the poorest conflict-ridden countries of the world, John? So I don't think we've solved the problems now. I do think that we've laid out some of the solutions and I think one of the keys is really just to inspire and get the right mentality and mindset. People need to recognize it is possible. You can overcome obstacles and you can create growth even under very difficult circumstances. I'm inspired and excited by what you guys are doing. I think it's great to see Emmanuel. I love your smile. I love the Ghanaian smile. You guys are awesome and I'm super excited to bring MassChallenge to each of your regions and work with each of you to help create more solutions and create more jobs for the world. So MassChallenge, we're on our way. We're working our way through. We're a startup ourselves, but it won't be more than two years before we're in each of your regions or three years at most. So we're coming soon and I'm looking forward to working with you all. You'll have to be bringing 24-hour electricity to Ghana, Eddie. Similarly inspired by hearing these things. The mindset is the core, the foundation. Beyond that, I guess the role gets split. There's obviously a lot, I've referred to regulatory challenges and kind of what I see as artificial barriers to business that can be brought down through the conversations that happen at the venues like Davos. Beyond that, I think there's a lot of ideas to develop ecosystems coming from the grassroots. And so conversations like these that allow for collisions need to happen more frequently. And so thanks. Well, look, hopefully we stimulated that. Let me just turn back to the harbors and say, thank you to Aman, to Saudi Arabia, to Gujarat in India, and to Ghana as well. And they're all putting their thumbs up as well. Thank you very much indeed. The thumbs are going up here. We had a thumbs up from Alcoba as well in Saudi Arabia. Thank you all very much indeed. I'm sorry there'd be more men than women up here, but we'll rectify that as part of this generating of new jobs. But thank you both very much as well, Eddie Thigh and John Hothelman. Thank you very much indeed. Thank you. I hope that what we've done is really hit a significant opportunity, even if many are worried about the way forward. And I'm taking away, there's still so many silos in teaching. When I hear from Eddie that actually the teachers have to be taught how to be good for enterprise, good in stimulating for enterprise, allowing radicalism and unthinkable thinking alternatives, that's going to have to happen. Secondly, the mindset, the culture. How is that going to change? Because it's got to change pretty quickly. And also that issue of the transfer of knowledge that need to be more inclusive and sharing. And that's what this one hour has been about here in Davos. Thanks to our panelists, to the Hupsters, and also all of you here. For a minute, guys, bye. Thank you.