Home | Discussion | News | Articles | Submit Articles | Cartoons | Shop .

Search Articles
Advanced Search
Publish Date




Iviews > Articles > Obama Hosts Presidential Summit on Entrepreneurship



U.S. Secretary of Commerce Gary Locke says it is time the United States broadened its relationship with the world's Muslims through stronger economic partnerships.

Obama Hosts Presidential Summit on Entrepreneurship
4/27/2010 - Social Economic Political - Article Ref: VN1004-4152
Number of comments: 5
Opinion Summary: Agree:1  Disagree:1  Neutral:3
By: Meredith Buel
VoA News* -

U.S. President Barack Obama speaks at the Presidential Summit on Entrepreneurship at the Ronald Reagan Building in Washington, DC. Obama has announced a string of new educational and entrepreneurial exchanges with Muslim nations, in a bid to honor his promise to forge a new beginning with Islam. Source: France 24

U.S. President Barack Obama is hosting a conference of more than 250 entrepreneurs from 50 countries, many with large Muslim populations, to encourage greater economic ties between the United States and the Muslim world. 

Fulfilling a pledge he made in his Cairo speech to the Muslim world last June, President Obama invited to Washington successful business and social entrepreneurs to strengthen America's engagement with Muslim-majority countries.

In a speech to the summit, Mr. Obama announced new programs designed to bring together entrepreneurs, so they can learn from one other.

"The United States is launching several new exchange programs," said President Obama. "We will bring business and social entrepreneurs from Muslim-majority countries to the United States and send their American counterparts to learn from your countries. 

The president announced a new program to assist women in technology fields who will have the opportunity to come to the United States for internships and professional development.

"And since innovation is central to entrepreneurship, we are creating new exchanges for science teachers," said Mr. Obama. "We are forging new partnerships in which high-tech leaders from Silicon Valley will share their expertise in venture capital, mentorships, technology incubators, with partners in the Middle East, in Turkey and Southeast Asia."

President Obama said that a Global Technology and Innovation fund he announced last year in Cairo has the potential to mobilize more than $2 billion in private capital for investment in sectors like telecommunications, health care, education and infrastructure. Mr. Obama said a second summit on entrepreneurship will be held next year in Turkey.

U.S. Secretary of Commerce Gary Locke opened the conference, saying that boosting Muslim business would help not only the Islamic world, but also would advance U.S. security and trade.

Locke says it is time the United States broadened its relationship with the world's Muslims through stronger economic partnerships.

"This entrepreneurial force extends across our respective shores," said Gary Locke. "It unites America and Muslim-majority countries in a shared vision of promise."

The two-day conference brings together established business people, young entrepreneurs, government officials, bankers and other experts.

Indonesian entrepreneur Sandiaga Uno lost his job during the Asian economic crisis in the late-1990s.

Uno says he started his own business simply to pay off credit card debt and put food on his table. More than a decade later, he is estimated by Forbes magazine to be worth about $400 million. 

"I basically, successfully, built the first private equity firm in Indonesia, focusing on natural resources and infrastructures, from four employees to about 15,000 employees now in Indonesia," said Sandiaga Uno.

Palestinian Waed al Taweel is a 20-year-old student from the West Bank town of Ramallah. With help from a mentor at the Arab Bank, she and her friends entered a contest for young entrepreneurs and started an event planning business.

In seven months, her shareholders earned a 200 percent profit on their investment.

"So it was a great opportunity for us to learn how businesses are made," said Waed al Taweel. "And we learned that a good idea can succeed in Palestine, if we have the determination, the perseverance to work on it even if we were young or not really experienced in this field."

Topics at the conference include innovation and technology, encouraging youth entrepreneurship and empowering women in business.

RSS Feed - ITunes Podcast

The opinions expressed herein, through this article or comments, contain positions and viewpoints that are not necessarily those of iViews. These are offered as a means for iViews to stimulate dialogue and discussion in our continuing mission of being an educational organization.

The iViews site may occasionally contain copyrighted material the use of which may not always have been specifically authorized by the copyright owner. iViews is making such material available in its effort to advance understanding of humanitarian, education, democracy, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, and such (and all) material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use any copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Search in this page for:

Print this article
Email to a friend
Post comments
RSS Feed
ITunes Podcast



About Us | Contact Us | Submit Articles
Copyright 1999-2015 by iViews.com. All Rights Reserved
Powered by IslamiCity