On 27-Nov-2017 In News
The stage is set, security has been beefed up. Falaknuma Palace is decked up to host women entrepreneurs from over 150 countries across the world. And all eyes are on US President Donald Trump’s daughter and advisor Ivanka Trump.Global Entrepreneurship Summit, which will last three days from November 28 to November 30, will be inaugurated by Prime Minister Narendra Modi and is themed WOMEN FIRST, PROSPERITY FOR ALL.Take a quick look at why Global Entrepreneurship Summit (GES) is so important for India.
At the GES emerging entrepreneurs, investors and business leaders from all across the world indulge in networking and pitch ideas for future investments.
The GES was first established in 2010 by former US President Barack Obama as a platform to bring together American and Muslim entrepreneurs. And thus the previous summits were held either in the US or Muslim countries.
Year 2010 onwards, the GES has been hosted by Washington DC, Istanbul, Dubai, Marrakech, Nairobi, Kaula Lumpur and Silicon Valley, and this is the first time it will be hosted in South Asia.
The GES serves as an important link between governments and private sectors and helps them showcase their projects and also opens to them new ideas for investment.
The reason Hyderabad has been chosen to host this year’s GES is because it is home to major US tech firms like Amazon, Apple, Google, Microsoft, Uber, premier academic institutions, and is likely to be named the next start-up capital of India.
According to various reports, this event will also provide a major push for the Narendra Modi-led government’s Start-Up India program and other schemes.
On behalf of the Indian government, NITI Aayog is taking the lead in organising the GES, and the other organisations supporting the summit are Amazon, Amway, CNBC, Cognizant, Dell, Google, Intel, Kauffman Foundation, Salesforce, Silicon Valley Bank and Walmart.
This is the first time over 52.5 percent participating entrepreneurs, investors are women. And more than 10 countries are being represented by an all-female delegation. Ivanka Trump will be leading the delegation from the United States.
The focus of GES 2017 is the digital economy and financial technology, media and entertainment, energy and infrastructure and healthcare and life sciences.
Speakers at GES 2017 include John Chambers, Chairman, USISPF; Cherie Blair, Founder, Cherie Blair Foundation for Women; Prem Watsa, Chairman and CEO, Fairfax Financial Holdings Ltd; Marcus Wallenberg, Chairman, SEB, a Swedish financial group; Chanda Kochhar, Managing Director and CEO, ICICI Bank and Tessy Thomas, Director, Defence Research and Development Organisation (DRDO).