A Look at Policies Advancing Entrepreneurship
Kristin Schreiber
Experts look at the crucial role policy makers play in building a strong entrepreneurship ecosystem.
18 Nov 2021

With "policy" a key theme of Global Entrepreneurship Week 2021, experts put a spotlight on those designed to help entrepreneurs start and scale, and the crucial role that policy makers play in building a strong entrepreneurship ecosystem. Read about the measures in place in select countries around the world, from unemployment law in France to a large-scale business plan competition in Nigeria.

#GEWPolicy: To Get More Capital to Entrepreneurs of Color and Women, We Need to Reform Section 3(c)(1) Investment Funds 

The overwhelming share of equity capital goes to entrepreneurs who are white and male. In recent years, women entrepreneurs have received only about two percent of total venture capital and entrepreneurs of color have received less than one percent. But what can policymakers do to encourage and facilitate greater diversity among startup investors? A potentially powerful policy opportunity lies within one of America’s landmark laws pertaining to capital formation. Center for American Entrepreneurship President John Dearie and Global Entrepreneurship Network President Jonathan Ortmans look at Section 3(c)(1) Investment Funds in the United States. 

#GEWPolicy: How French Unemployment Law Supports Startups 

Prior to 2002, unemployment insurance in France was seen as a barrier to entrepreneurship because individuals lost their eligibility when they founded a business. This changed after a series of reforms allowed founders to collect unemployment benefits for up to two years from launching their business and to continue to do so in the event that the business failed. As a result, the rate of new firms created rose by 25 per cent. GEN France Board Member Bruno Berthon and GEN President Jonathan Ortmans look at how this has impacted the country's startup rate.

#GEWPolicy: A Unique Financing Initiative Propels Startups in Nigeria

YouWin! (Youth Enterprise with Innovation in Nigeria) is a large-scale national business plan competition for young entrepreneurs. It provides winners with an average of US$50,000, has help to create 7,000 new jobs, and has a track record for spurring profitable firms. GEN's Peter Komives looks at its impact.

#GEWPolicy: A Look at Labor Market Fluidity and Entrepreneurship

Restrictions on employee mobility are coming under scrutiny through emerging case law in the United States, legislative activity across U.S. state governments, and recent statements from the European Commission. Senior GEN advisor Dane Stangler looks at how non-compete agreements impact the rate of new startup formation. 

#GEWPolicy: Lessons from Fintech Sandboxes and 'Scaleboxes' in the UK

A regulatory sandbox in the UK, implemented by the Financial Conduct Authority in 2016, has been touted as “instrumental" in supporting innovation and fintech. It was launched to help firms test products and services in a controlled environment; reduce time-to-market; and identify appropriate consumer protection safeguards to build into new products and services. GEN's Matt Smith looks at lessons learned and how regulators and startups can work together to nurture innovation.

#GEWPolicy: Lessons in Designing National Incentives for Local Financing Innovations

The U.S. State Small Business Credit Initiative, first created in 2010, received funding again in March 2021 through the American Rescue Plan (ARP). The ARP allocated $10 billion this time around, a nearly tenfold increase from 2010. Senior GEN Advisor Dane Stangler looks at whether this increase is justified and lessons that can be applied to government programs leveraging public dollars to catalyze private financing.

#GEWPolicy: Digitalizing Away Red Tape - Reducing Barriers Through Online Administrative Portals

Internationally, unclear and complex administrative requirements considerably increase the cost of doing business, discourage new firm registration and investment, and create fertile ground for corruption. To address this challenge, GEN partnered with UNCTAD, which has developed digital government platforms that help simplify and automate administrative procedures so anyone, anywhere can access the services they need. Frank Grozel, Coordinator of the Business Facilitation Programme at UNCTAD and Peter Komives, Vice President at GEN, provide an overview.

#GEWPolicy: Singapore's Startup SG Founder i.JAM Micro-Funding Initiative

In Singapore, the Startup SG Founder i.JAM Micro-Funding Initiative provides an example of government capital access programs. The initiative is a key component of the i.JAM (IDM Jump-start and Mentor) initiative, which is championed by the multi-agency Interactive Digital Media R&D Programme Office and aims to support individuals and start-ups with breakthrough ideas that can be developed into innovative products and services. Peter Komives, Vice President at GEN looks at the program. 

For more Global Entrepreneurship Week news, visit www.gew.co

Kathryn Forrest

Manager for Communications | Global Entrepreneurship Network

Kathryn is the Manager for Communications at the Global Entrepreneurship Network (GEN), where she is… More