This year we have chosen the headline theme “Enabling the Entrepreneurial Ecosystem”. The Entrepreneurial Ecosystem in Sierra Leone is in its nascent phase.
To enable the entrepreneurial ecosystem in Sierra Leone, stakeholders and actors have to connect and engage with entrepreneurs. They also have to inform and inspire these entrepreneurs.
During GEW 2018 Sierra Leone, we will hold events where stakeholders and actors will inform, connect, engage and inspire entrepreneurs in Sierra Leone.
Below are the key components of an Entrepreneurial Ecosystem:
- Human Capital (educational institutions, TVET, Professional training others)
- Networking Assets
- Economic Assets
- Enabling Environment
- Infrastructure
Why the theme- Enabling the Entrepreneurial Ecosystem?
To identify, develop and grow high growth, value creating and disruptive productive entrepreneurs in Sierra Leone
That will attract investment, leading to the creation of employment; generating economic growth and facilitating social inclusion.
In order for Sierra Leone to be relevant in this emerging future global economy (with sub-regional implications); For entrepreneurship and innovation to play the crucial role that they can in creating significant value, employment and growing Sierra Leone’s economy, we must build and grow value-creating and high-growth entrepreneurs -Productive Entrepreneurs, -who participate in these new methods of value creation. Further, to grow the national economy and develop the nation.
As a country, we must identify and support the entrepreneurs who are disrupting and cannibalizing the old business models with the new. These types of entrepreneurs- Schumpeterian Entrepreneurship- need an Entrepreneurial Ecosystem infrastructure to support them.
Entrepreneurial Ecosystems facilitate the creation of environments conducive to collaboration, synergy, networking and internationalisation.
They further encourage and spur innovation. Evidence shows that domestic and foreign investors are attracted to sectors with strong entrepreneurship ecosystems, such as tech and innovation.
Inspired by research on the importance of entrepreneurship for sustained economic growth and improved well-being, many governments and non-governmental grant-making organizations have sought over the past decade to implement policies and programs intended to support entrepreneurs.
Over this interval, growing appreciation of the limits of strategies focused narrowly on financing or training entrepreneurs has prompted a number of such entities to shift their efforts toward more broad-based strategies aimed at enabling “entrepreneurial ecosystems” at the city or sub-national regional scale. “Enabling the Entrepreneurship Ecosystem-Philip E. Auerswald, October 2015. Ewing Marion Kauffmann Foundation”.
Events will include Women in Tech, Students and Big Corporates. More information will follow.