The 2022 Global Entrepreneurship Congress, co-hosted by the Global Entrepreneurship Network and Monsha'at, Saudi Arabia's small and medium-sized business authority, made the news across the Middle East and globally, with features in Forbes, Entrepreneur, Inc and more.
GEC 2022 Press Highlights
Return of the GEC: ‘Building One Global Entrepreneurial Ecosystem’
Forbes | March 2022
GEN Senior Advisor and GEC speaker Dane Stangler shares his top takeaways from the Congress. "Today’s entrepreneurs, too, are tomorrow’s leaders of successful companies, nonprofits, civil society organizations, and government. The more connections they build with their peers around the world during their entrepreneurial journey, the wider their view will be when they sit on top of the social and economic pyramid."
Global Entrepreneurship Congress 2022 in Riyadh Sees Almost US$8 Billion in Investments Announced on its Second Day
Entrepreneur Middle East | March 2022
On Day 2 of GEC 2022, investment agreements and announcements reached a value of almost US$8 billion. "GEC 2022 marks the entrepreneurial rise of the Middle East, and of Saudi Arabia's potential as an innovation hub for the region," said H.E. Saleh Ibrahim Alrasheed, Governor of Monsha'at.
Study: Most Entrepreneurs Will Skip Money From Investors Who Fall Short on Sustainability
Inc | March 2022
Research commissioned by Monsha'at and released during GEC 2022 shows that two-thirds of entrepreneurs and investors polled from the United States, United Kingdom, Saudi Arabia, China, and France, rank an investor's sustainability practices as a key factor in decision making. "The big headline is that seemingly everyone -- particularly women -- has their sights on businesses that emphasize the triple bottom line of people, planet, and profit," writes Elizabeth Gore.
Apple Co-Founder Wozniak for ‘Mapping’ Space Junk Calls Elon Musk an Outstanding Expert
New Zealand Times | March 2022
Calling for international standards on sharing space waste data, Apple co-founder Steve Wozniak said at the Global Entrepreneurship Congress that his new space company called Privateer will map space waste.
Royal Commission for AlUla Highlights Unique Formula for SME Growth as Global Entrepreneurship Congress Begins in Riyadh
Yahoo Finance | March 2022
The Royal Commission for AlUla (RCU), a GEC 2022 knowledge and programming partner shared the pillars of its plan for the SME sector: promoting indigenous growth, building capacity and capabilities, and opening a gateway to opportunities. "Our ancestors were entrepreneurial," said Amr AlMadani, CEO of the RCU. "To survive in a harsh environment they made clever use of the materials at hand. They wove and embroidered with silk and metal thread, farmed dates and gathered hay, worked as metalsmiths, and ran coffee houses. Think of how much we can achieve today if we apply this heritage of initiative and perseverance in a modern AlUla fully connected to the wider world and all its possibilities."
Entrepreneurs are Ready to Refuse Funding from Non-Sustainable Investors
Startups Magazine | March 2022
Entrepreneurs across five of the world’s biggest investment hubs have said they are ready to turn down funding from investors without adequate sustainability practices, new research shows.
Saudi Arabia's Startup Sector to See $162m in New Investments
The National | March 2022
Six startups received licenses from Saudi Arabia on Day 2 of GEC 2022, and collectively pledged to invest up to $162.2 million. “As the world continues to emerge from the Covid-19 pandemic, entrepreneurs are shaping our new normal. In Saudi Arabia, the start-up scene is thriving and there is enormous potential for venture capitalists,” said Minister of Investment Khalid Al Falih.
Wozniak Startup to Share Orbital Space Junk Data
The Register | March 2022
Onstage at GEC 2022, Steve Wozniak shared that the mission of his new startup, Privateer, is to build software that taps into data from various sources to track objects in Earth orbit including satellites and debris that could potentially damage or destroy those satellites. "Our lives depend on things that come from satellites, our navigation systems, a lot of our television, a lot of our internet, our phone calls from country to country, go through satellites," said Wozniak at GEC 2022.
Why the Government Has a Significant Role to Play in Unleashing an Entrepreneur’s Potential
Harvard Business Review | March 2022
"During a pandemic that has ravaged economies, tested health systems to the limit, unbalanced finances, and strained global supply chains, it is no surprise that governments around the world are reeling. Sadly, this too often means that the government’s priority for supporting entrepreneurship is underplayed and neglected. But the government’s role in promoting entrepreneurs and startups has never been more critical—not despite the pandemic but because of it. It is entrepreneurs who were nimble enough to react to Covid-19. Entrepreneurs continued to innovate through lockdowns, creating jobs and growth, and kept the world economy flowing."
Entrepreneurs are the medicine for global economic recovery, and it’s up to governments to administer the cure
Fast Company | March 2022
Saud Alsabhan, vice governor for Monsha'at shares how entrepreneurs will help innovate the world out of the pandemic and support economic recovery. "A particularly revealing phenomenon was that while the global economy slowed, taking business revenues with it, the number of entrepreneurs applying to start new business went up in key markets, he writes. "In Saudi Arabia specifically, we have seen a 24% increase in entrepreneurs starting a business since 2019."
Don't let regulation stifle innovation: OECD
Digital Nation | March 2022
"The problem that you have with regulation and innovation is twofold," said Céline Kauffman, head of the entrepreneurship, SME and tourism division at the OECD. "On the one hand, you don't want to prevent new ideas, innovation, entrepreneurship. But on the other hand, regulation is in place to protect consumers."
How leaders can unpack the startup ecosystem
Digital Nation | March 2022
"With incubators, innovators, angels and entrepreneurs, the start-up ecosystem is a rapidly changing and complex beast," writes Velvet-Belle Templeman. "New players are frequently emerging, bringing their unique traits to a system born from disruption, dependent on risk-taking, and with expectations to scale fast."
Saudi Arabia on Path to become MENA financial hub in 3 years: GEN President Ortmans
Alarabiya | March 2022
Saudi Arabia's transformation from an oil and gas powerhouse to a startup hub is well underway. Jonathan Ortmans shares his prediction for its future.
Special Coverage from Arab News
Watch news highlights and video interviews with GEC speakers including GEN President Jonathan Ortmans, Netflix co-founder Marc Randolph, Startup Genome CEO JF Gauthier, Entrepreneurship World Cup alumni and Lendo co-founder Osama AlRaee and many more.
News highlights from Arab News:
- Global Entrepreneurship Congress kicks off in Riyadh as regional startups boom | Read More
- GEC 2022: Saudi Arabia issues licenses for startups that could invest $162 | Read More
- AlUla’s incubator to support entrepreneurial ecosystem, says Al-Madani | Read More
- Good societies nurture entrepreneurs, who grow their economies | Read More
- Netflix former CEO says he left streaming giant after losing startup status | Read More
- Silicon Valley’s Plug and Play hopes to accelerate 100 Saudi startups in 2022 | Read More
- Careem grows beyond original avatar; CEO eyes ‘Super App’ status | Read More
- Saudi Arabia’s rise as global startup hub attracts Egyptian entrepreneurs | Read More
- KAUST spends $200m to promote tech startups in Saudi Arabia: VP | Read More
- Saudi Arabia doles out $533m on startups in 2021, says Monsha’at official | Read More
Watch and read all the coverage from Arab News here.