Young entrepreneurs are a tremendous source of innovation, providing a fundamental way to improve living standards
Stresa, Italy (Vocus) July 10, 2009
Leaders from the Entrepreneurs' Organization (EO) joined organizations from around the world in Stresa, Italy, at the G8 Young Business Summit on 3 July 2009. Held in conjunction with the 2009 G8 Summit taking place this week, the event brought together entrepreneurial leaders, academics, representatives of civil society and community leaders to discuss innovative solutions to the current economic situation.
"Young entrepreneurs must be recognized as drivers of the economy, leading the way to economic recovery through job creation and innovation," said Kevin Langley. Langley is a past president of EO's New Orleans chapter and was a member of the coalition representing EO at the G8 Young Business Summit. "Supporting entrepreneurship through strong government policy and sound business practices is vital to the success of the world's economies," Langley said.
At the G8 Young Business Summit, organizations representing a diverse set of cultures and experiences teamed up to draft a joint declaration, consisting of recommendations built around the importance of fostering innovation to boost the world economy.
"Young entrepreneurs are a tremendous source of innovation, providing a fundamental way to improve living standards," said Langley. "Studies have shown that more than one-third of job creation is due to the entry of new businesses, which speaks to the importance of entrepreneurship and innovation in spurring economic recovery."
As an organization dedicated to engaging leading entrepreneurs to learn and grow, EO is committed to ensuring that the next generation of entrepreneurs will have success and greatly impact the world's economic fortunes. To realize this goal, EO operates two programs focused solely on helping young entrepreneurs achieve success in their businesses.
EO's Accelerator program is designed to take first-stage entrepreneurs to the next level of business success. The program is focused on four key issues faced by first-stage entrepreneurs: strategic planning, sales and marketing, human resources and finance. In the face of record job losses suffered worldwide in 2008, companies participating in the Accelerator program were responsible for creating 1,500 jobs last year.
The Global Student Entrepreneur Awards (GSEA) is a program for undergraduate students who own and run businesses while attending a college or university. The program fosters young entrepreneurs by providing them with opportunities to enhance their business skills, network, gain media exposure and win prizes, including cash to help fund their businesses and donated business products and services.
"It was the consensus of those participating in the G8 Young Business Summit that developing cultures in which entrepreneurship is cultivated and embraced is the first step the global business community needs to take on our path to economic recovery," said Langley. "By encouraging entrepreneurship among younger people and fostering an environment in which innovation can thrive, EO's programs are setting the stage for the next generation of entrepreneurs to lead the world into a prosperous economic future."
About the Entrepreneurs' Organization:
The Entrepreneurs' Organization (EO) - for entrepreneurs only - is a dynamic global network of more than 7,300 business owners in 42 countries. Founded in 1987 by a group of young entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. Membership in one of EO's 116 chapters is by invitation only; the average member is 40 years old with annual revenues of US$17.3 million. For more information on EO, visit http://www.eonetwork.org or call +1.703.519.6700.
Contact: Ryan Meyer
Public Relations Manager