The 8th Global Entrepreneurship Summit is beginning in Hyderabad today. It is being held in India for the first time. The summit focuses on women entrepreneurs and all eyes are on US President Donald Trump's daughter and advisor Ivanka Trump.
Prime Minister Narendra Modi along with Ivanka Trump will inaugurate the three-day event themed around "Women First, Prosperity for All".
GES, a personal initiative of former US President Barack Obama to bring entrepreneurs from across the globe on one platform, made a beginning in 2010 in Washington and thereafter it has been hosted by Turkey, United Arab Emirates, Malaysia, Morocco and Kenya.
In 2016, Silicon Valley hosted the GES. India was given opportunity to host GES during Modi's US visit in June.
The summit is taking place at the Hyderabad International Convention Centre (HICC) in Hitec City, the Information Technology hub. The event will bring together 1,500 emerging entrepreneurs and investors, and ecosystem supporters from 150 countries for training and mentoring sessions, networking and investment matchmaking.
File image of Prime Minister Narendra Modi meeting Ivanka Trump. Twitter @USAandIndia
"For India, the summit holds a special place as we are more intensely focused than ever before to give entrepreneurs the opportunities and ecosystem to help them thrive," said Amitabh Kant, CEO, NITI Aayog.
The US State Department and other American agencies in partnership with NITI Aayog, India's think tank, are organising GES, which seeks to create an environment that empowers innovators, particularly women, to take their ideas to the next level.
GES will highlight India's enabling environment for innovation and entrepreneurship - including actions by the government to increase the ease of doing business, eliminating unnecessary regulations and supporting start-ups.
The 2017 event will focus on four innovative, high-growth industries -- healthcare and life sciences; digital economy and financial technology; energy and infrastructure and media and entertainment.
The event consists of breakout sessions, master classes, and workshops. Three networking sessions are also planned to enhance opportunities to interact with other participants.
The delegates include about 400 each from India and the US and the remaining from rest of the world.
Women will represent 52.5 percent of the participants, the highest in GES' history. Afghanistan, Saudi Arabia and Israel are among 10 countries being represented by all-female delegations.
Ivanka Trump, who has been speaking out on the world stage about women empowerment, will be leading the US delegation.
She will speak at the GES inaugural session on Tuesday and another session on Wednesday.
According to Gayathri Vasudevan, Co-Founder & CEO, LabourNet, the theme of this year’s GES Summit is a curtain raiser for a much-awaited launchpad for women entrepreneurs globally who are harbouring aspirations for inclusive economic growth.
"While statistics reveal that workforce participation of women in India is reducing, female micro-entrepreneurs are on the rise. This is because of the rise of the service and trading sectors as result of a booming consumer market. Understanding India’s present entrepreneurial landscape, I hope that this summit will be able to open doors to the large proportion of women micro entrepreneurs in the service and trading sectors. This could be the right platform for increasing female workforce participation in Indian economy as well as ensuring equitable economic development,” she said.
Updated Date: Nov 29, 2017 13:23 PM