5 key actions to foster innovation identified by G20 young entrepreneurs

Celeste North fue seleccionada como parte de la delegación mexicana para el G20YES en la Ciudad de México. Compartimos el artículo que escribió sobre su experiencia en Opinno.

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Youth entrepreneurship for jobs and growth, that’s how the official communiqué of Mexico City’sG20 Young Entrepreneur Summit 2012 begins. After four days of constant sharing, discussing and proposing, young entrepreneurs from all over the world handed their conclusions to Mexican President Felipe Calderon, host of the upcoming G20 Leaders Summit.

The G20 Young Entrepreneur Summit is a gathering of young entrepreneurs to discuss policy and regulatory changes needed to foster entrepreneurship in G20 countries. It was first held in Toronto two years ago where hundreds of attendees helped identify the five key priorities to foster entrepreneurship: regulations and taxes, institutional support, the building of an entrepreneurial culture, access to financing and education and training

The second summit was in France, where Ernst & Young and McKinsey presented results from research around the key priorities and joined G20YES as knowledge partners.

G20YES is an official program of the G20 Young Entrepreneurs Alliancea collective of leading entrepreneurially-minded organizations representing the G20 countries who seek to promote youth entrepreneurship as a powerful driver of economic renewal, job creation, innovation and social change.

During Mexico’s Summit, delegates from all the G20 countries shared their particular situations, which helped identify similarities and opportunities. At the end, the communiqué they shared, identified five key actions to foster innovation, inclusive economic growth, social cohesion and job creation:

  • Creating a continuum of traditional and innovative funding sources with incentives through all stages of business growth.
  • Increasing access to simplified information and integrated youth enterprise support with a strong knowledge and skills infrastructure.
  • Promoting a collaborative environment across private and public sectors, civil society and academia that enables young entrepreneurs to start, grow, learn and have a second chance in business  within their countries and internationally.
  • Minimizing regulatory and tax barriers for start-up and early-stage businesses to reduce costs and increase efficiency.
  • Fostering a stronger youth entrepreneurship culture through promoting and teaching entrepreneurship and raising awareness.

Hopefully G20 Leaders will take into account these simple but world-changing proposals, it is very empowering to discover so many young people looking change the world. The next G20YES will take place in St. Petersburg, Russia in 2013.

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