THE POWER OF 1.8 BILLION UNLEASHED
Never before has the world seen so many young people as mentioned in the United Nations' Population Fund (UNFPA) report. The Future of Entrepreneurship lies with this segment of the population, who will who have the potential to lead and solve our global challenges. However, to become the innovators, leaders, thinkers and problem solvers, families, societies, cities, and countries should invest in the skills and knowledge that they will need to advance economic and social progress. This is the future of work. This is the meaning of work in a sustainable world.
ICSB 64TH World Congress shines the light on Egypt. Why?
Well, Egypt is on the move. How so? With a population approaching 100 million people and with more than 50% under the age of 30, that is all you need to know. But the good news doesn't just stop there. With a large tech-minded population with expertise in mobile and web-based applications, innovative products and services are at your fingertips. The numbers also bear out the impact of entrepreneurship and small business formation is having on the Egyptian economy. Here is what we know; the current internet penetration rate is 40% and growing. There are more than 100M mobile phone users and clients. Mobile banking is growing at a fast rate. Currently, only 10% of the population have a bank account. There is room for tremendous growth to occur with Egypt becoming a leading hub for promising entrepreneurs.
Throughout its history, Cairo has been a gateway for commerce and culture between the peoples of Africa, the Middle East, Europe, and Asia. The 64th ICSB World Congress will convene a world-wide gathering of entrepreneurs and thought leaders to host a global forum to discuss the future of entrepreneurship. ICSB in partnership with the International Labour Organization (ILO) will explore how the paradigm shift towards a more inclusive economic growth and sustainability is impacting support for MSMEs. Inspiration from Egyptian small business leaders and experiences Leaders of Academic, Social and Political Organizations will continue a common reflection about the role of the entrepreneurial system in the pursuit of sustainability and social promotion. The results of this debate will nurture further initiatives of ICSB to be undertaken in the framework of the collaboration with the United Nations about SDG accomplishment.
ABOUT THE CONFERENCE THEME and SUBMISSION
Small and medium-sized enterprises (SMEs) are major contributors to every economy. With more than 70% of the population in many countries employed by SMEs, there is an increasing awareness of the need to foster and support entrepreneurship. The private sector is undergoing a tremendous transformation led by SMEs. Innovation is occurring throughout the country and not just limited to urban areas. An environment has been established where locals are able to create their own job opportunities. Creative ideas around the financing and licensing of companies are available to the private sector and small business owners. Legislation has been passed which gave a specific mandate to support SMEs.
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