Latest news with #GlobalEntrepreneurshipMonitor
Khaleej Times
4 days ago
- Business
- Khaleej Times
UAE leads youth-driven startup surge in the Middle East
Entrepreneurial ambition among young people in the Mena region is on a sharp rise, with 46 per cent of workers expressing interest in starting their own business. Nowhere is this intent more visible than in the UAE, where a dynamic ecosystem of startups and small and medium enterprises (SMEs) is enabling youth to turn vision into reality. A new PwC Middle East report, Future Ready Mena, highlights the urgent need to strengthen entrepreneurial capabilities across the region. It notes that the survival rate of small businesses doubles when guided by experienced mentors, and that mastery of emerging technologies — from artificial intelligence to digital commerce platforms — has become critical as the global workforce braces for the disruption of more than a billion jobs by 2030. The UAE's record in fostering entrepreneurship is already world‑leading. According to the 2024–2025 Global Entrepreneurship Monitor (GEM), the nation ranks first globally for the fourth consecutive year as the best destination for startups and SMEs, surpassing 55 other economies. It leads in 11 out of 13 indicators that measure institutional support for entrepreneurship, including access to financing, regulatory ease, integration of entrepreneurship in education, and supportive cultural attitudes toward enterprise creation. SMEs are a cornerstone of the UAE's non‑oil economy, numbering around 557,000 and contributing an estimated 63.5 per cent of non‑oil GDP. That share is expected to rise as the nation pushes towards its target of one million SMEs by 2030, driven by an expanding digital economy, government funding programmes, and improved access to financial services. The third edition of the Mastercard SME Confidence Index shows that 91 per cent of SMEs in the UAE are optimistic about their business prospects this year, while 90 per cent expect revenue to match or exceed 2024 levels. The country's startup scene is equally vibrant. More than 5,600 active startups operate in the UAE, the highest number in the GCC. In May 2025 alone, these ventures attracted nearly $87 million in funding across 14 deals. Abu Dhabi's Hub71 has become a key catalyst, hosting over 260 startups as of mid‑2023 and offering equity‑free incentives, investor introductions, and global market access. In Sharjah, the Sheraa entrepreneurship centre has helped over 450 startups raise $297 million in capital and generate $372 million in revenue, with more than half being women‑led. This growth in entrepreneurial activity is supported by evolving education and cultural attitudes. Surveys among Emirati university students show a strong correlation between self‑confidence, institutional support, and entrepreneurial intention. While public sector careers remain attractive, a growing share of youth see business ownership as a viable, even preferred, career path. PwC's report recommends that governments, educators, and the private sector collaborate to expand structured entrepreneurship education, develop mentorship networks, empower women entrepreneurs, and promote technological proficiency. Programmes such as university incubators, government‑backed accelerators, and industry‑linked training are critical in translating youth ambition into scalable enterprises. The UAE already has a track record of producing high‑growth, tech‑driven ventures. Success stories like Talabat, Tabby, Swvl, and Tamara demonstrate how digitally native business models can rapidly scale when built on a foundation of entrepreneurial agility and strong market understanding. The World Economic Forum notes that Gulf states benefit from a maturing startup environment, strong investment flows from sovereign wealth funds, and regulatory innovation that reduces barriers for new businesses. Nearly 49 per cent of GEM's global respondents cite fear of failure as a barrier to launching a business, a sentiment shared by many in the region. But policymakers and investors in the UAE are addressing these concerns with simplified licensing processes, early‑stage funding opportunities, and structured mentoring support designed to build resilience among young founders. The convergence of strong youth ambition, robust ecosystem frameworks, and institutional backing positions the UAE as a model for inclusive, sustainable entrepreneurial growth in the Mena region. Yet experts stress that maintaining this momentum will require deeper mentorship engagement, embedding entrepreneurship across all levels of education, and ensuring equal opportunities for women and underrepresented groups. As PwC Middle East's education lead Roland Hancock points out, entrepreneurial capabilities extend far beyond traditional business knowledge. 'It's about adaptability, creativity, problem‑solving, and digital fluency. By investing in these capabilities now, the region can unlock the full potential of its youth and establish itself as a global hub for innovation and industry leadership.'
CNBC
31-07-2025
- Business
- CNBC
42-year-old CEO dropped out of high school—now his company buys others for millions: His best advice for young people
Aaron Levant, CEO of Complex, a media and e-commerce platform, never graduated from high school or attended college. But that hasn't stopped him from building businesses in spaces where formal education is often seen as a prerequisite to success. For Levant, a lack of industry knowledge in his early career wasn't a disadvantage — it was an opportunity to do things differently, he says. His experience has turned into a business philosophy, he says: "Ignorance is rich." "[I had] no experience in trade shows and fashion and media companies and events, and I went in and did it," he tells CNBC Make It. "And my naiveness toward the subject matter allowed me to try things that no logical person would have." After over two decades of building businesses as a serial entrepreneur, Levant's company NTWRK, a video commerce platform, acquired Complex in 2024 in a $109 million deal. Ultimately, his career success comes down to risk-taking and hustle, he says — plus a lack of perceived barriers. Here's what he says about being young in work and entrepreneurship. Learned limitations are a mindset challenge Levant notices a lot: People are too often scared to try something new because of how others have done things — or attempted and failed at doing things — before, he says. Data indicates the same: Among those considering entrepreneurship, 44% would not start a business because of fear of failure, according to the Global Entrepreneurship Monitor, a report from Babson College. After dropping out of high school, Levant taught himself graphic design tools and started working in the fashion and design space, which quickly got him working in trade shows. Eventually, in the early 2000s, he started working on building the Agenda Show, which grew to become a leading streetwear and action sports trade show, featuring performers like Tyler, the Creator and booths from brands as big as Nike. Following Agenda's success, he then started building ComplexCon, an annual festival for music, streetwear, art and food, which reported $20 million in sales at its 2024 show, according to Billboard. While managing his trade shows and other startups, including Hall of Flowers, a cannabis tradeshow, and Truff, a hot sauce company, Levant pivoted to starting NTWRK. Conventionally, someone in his position as a founder and CEO might have had corporate experience in commerce, media or fashion, or some level of formal education relating to business — but Levant didn't. His entrepreneurial ventures all started because he was willing to try and unafraid of failing, he says. "Sometimes, the less you know about something, you might actually stumble on being successful," Levant says. "Sometimes institutional knowledge of a subject matter, of an industry, can actually cause you not to be successful because you have perceived roadblocks." To be sure, data indicates that people with a high school diploma or college degree make more money, on average, according to the U.S. Bureau of Labor Statistics. Some employers also will only hire people with specific experience. But you don't always need typical white-collar qualifications to pursue your passions and turn them into viable ventures, Levant says. And the people who wouldn't hire you may be the very same people whose businesses your idea could disrupt. Levant's message to would-be entrepreneurs: Don't be afraid to try. Even if you don't have access to insider knowledge or a near-perfect business plan, he says, you should muster the courage to start anyway — then start hustling. "I really encourage people to not be discouraged or scared," Levant says. "Go out there, get into a field you're interested in and passionate about, try, regardless or your experience level, work really hard."
Malaysian Reserve
22-07-2025
- Business
- Malaysian Reserve
APEC 2025 Seminar on Promoting Green Jobs and Resilient Development by Enhancing the Capacity Building of Sustainable Entrepreneurs
Beijing, 16–17 July 2025 BEIJING, July 22, 2025 /PRNewswire/ — APEC seminar on 'Promoting Green Jobs and Resilient Development by Enhancing the Capacity Building of Sustainable Entrepreneurs' was held on 16 – 17 July 2025, at Tsinghua Science Park, Beijing, China. Organized jointly by National Entrepreneurship Research Center, School of Economics and Management, Tsinghua University and Tus-Holdings Co., Ltd., the event convened government officials, scholars and industry experts from 14 APEC economies, including Australia, Canada, China, Indonesia, Malaysia, Mexico, Philippines, Singapore, Korea, Thailand, United States, and etc., to share best practices and explore the effective pathways for promoting sustainable entrepreneurship across the APEC region. Opening Remarks Mr. Jiang Wei, Deputy Director General of International Cooperation Department in Ministry of Human Resources and Social Security of China, stressed that green jobs and sustainable entrepreneurship are critical levers for high-quality employment and economy-wide green transition. He outlined China's three-pronged approach: (1) embedding 'dual-carbon' goals in national strategy and green-growth frameworks; (2) reskilling and redeploying workers in traditional sectors such as coal through retraining grants, severance top-ups and green-industry funds; and (3) integrating 134 green occupations into the national occupational classification—more than 8 % of the total—while scaling up green-skills training nationwide. Mr. KIM Minkyu, representative of 2025 APEC presidency of Korea，Labor Attaché Counsellor in Embassy of the Republic of Korea in China, highlighted sustainable entrepreneurship as essential for inclusive and resilient growth and the effort of Korea as 2025 presidency to deepen APEC collaboration on green-job creation amid geopolitical uncertainties. Mr. Wang Jiwu, Chairman of TusHoldings Co., Ltd. reiterated the company's commitment to leveraging Tsinghua Science Park as a global innovation hub and to sharing resources and experience with APEC members to accelerate technological upgrading worldwide. Prof. GAO Jian, Director of National Entrepreneurship Research Center, School of Economics and Management, Tsinghua University, noted that this was the first APEC meeting dedicated to capacity building of sustainable entrepreneurs. He emphasized youth as the primary entrepreneurial force and called for continued improvement of inclusive, resilient entrepreneurial ecosystems. Keynote Speech Prof. Donna Kelley, Frederic C. Hamilton Chair of Free Enterprise in Babson College, and head of Global Entrepreneurship Monitor team in USA, demonstrated through cross-economies indices that GDP level does not automatically translate into superior social and environmental performance. GEM data reveal that more than three quarters of entrepreneurs in China and Thailand already take SDG-oriented actions. This figure stands in a contrast with several high-income economies, which reflects the difference of regional incentives mechanism and culture background. Mr. Chen Hongbo, Executive Senior Vice President of TusHoldings Co., Ltd., President of the International Association of Science Parks and Areas of Innovation (IASP), introduced Tus-Holdings''Four Step Theory' for building sustainable entrepreneurship ecosystems, which is resource gathering, integration and cooperation, prioritizing target areas, and generating innovative outcome. Mr. Mou Rui, on behalf of National Entrepreneurship Research Center, launched the report 'The Entrepreneurial Ecosystem and Capacity Building of Sustainable Entrepreneurship in APEC Economies'. Based on surveys and policy reviews across 16 APEC economies, four recommendations are proposed in the report as: (1) an APEC Sustainable Entrepreneurship Platform for policy learning and industry cooperation; (2) dedicated financing facilities; (3) an APEC Sustainable Entrepreneurship Academy for scaled-up, quality training; and (4) enhanced policy coordination, evaluation and data sharing. Panel discussions The Seminar includes four session with following topics:1. Creating More Green Jobs – Policies and Scaling Strategies for Green Tech Startups 2. Skills Upgrading for Entrepreneurship and Employment in the Context of the Sustainable Development Goals (SDGs) 3. Enhancing the Resilience of Startups through Digital and Green Transition 4. Challenges and Opportunities for Women, Youth, and Persons with Disabilities in the Digital and Green Transition Characterized by broad representation and a diverse range of participants, the seminar set up a multi-level, cross-sector platform for international cooperation and exchange. China's innovative practices in green entrepreneurship and green employment, together with Chinese entrepreneurs' proactive efforts to align with the UN Sustainable Development Goals, offered all APEC economies the valuable insights on how to turning sustainable development from vision into action.
Indian Express
17-07-2025
- Business
- Indian Express
Top 10 richest self-made women in the world 2025: Falguni Nayar, Kiran Mazumdar-Shaw make global list at #31 and #32
Top 10 richest self made women in the world 2025 Forbes list: In the modern world, women are leading the charge in entrepreneurship like never before. According to the Global Entrepreneurship Monitor, there are over 658 million female founders and business owners worldwide. Forbes reports that self-made women now make up 3.5 per cent of the global billionaire population, up nearly 50 per cent from 2017. Their combined net worth stands at $276 billion, with an average of $5.5 billion per individual, an increase of $158 billion since 2017. Topping Forbes' 2025 list is Rafaela Aponte-Diamant, co-founder of the Mediterranean Shipping Company (MSC), with a net worth of $38.8 billion. The company is now the world's largest shipping line. In second place is Diane Hendricks of the United States of America, who co-founded ABC Supply, a major distributor of roofing and building materials, with an estimated net worth of $22.3 billion. China, including Hong Kong, leads with 18 women in the top 50. Zhong Huijuan, a former chemistry teacher, is the richest among them, having founded Hansoh Pharmaceuticals in 1995. She gained global recognition in 1999 for developing a breakthrough lung cancer drug. Australia's Melanie Perkins stands out as the youngest at 38 years old, renowned for co-founding Canva, a popular design software company, in 2013. Source: Forbes' 50 Richest Self-Made Women on Earth 2025 Former investment banker, Falguni Nayar, with an estimated net worth of $3.4B, founded Nykaa, a retailer of beauty products, in 2012, and ranks #31 among the richest self-made women in the world in 2025. Nayar took Nykaa public in 2021, which made her India's richest self-made female entrepreneur in the process. Following her at #32 is Kiran Mazumdar-Shaw, one of India's richest self-made women, who founded biopharmaceutical firm Biocon in 1978, with a net worth of $3.3B. Cherry Gupta is an Assistant Manager - Content at The Indian Express. She is responsible for crafting compelling narratives, uncovering the latest news and developments, and driving engaging content based on data and trends to boost website traffic and audience engagement. One can connect with her on LinkedIn or by mail at ... Read More
IOL News
22-06-2025
- Business
- IOL News
Entrepreneurship in basic education will contribute to a job-creating economy
The Department of Basic Education's (DBE) ongoing integration of entrepreneurship education into schools, driven by its E³ (Employability, Entrepreneurship, and Education) initiative, is both timely and urgent, says the author. Image: AI LAB South Africans remain resilient and determined, despite their continued efforts to deal with the challenges of youth unemployment, crime, and poverty. Recent reports from Statistics South Africa show that the youth unemployment rate is 46.1% for the 15-34 age group, 62.4% for the 15-24 age group and 40,4% for the 25-34 age group; these statistics indicate a crisis that requires deliberate intervention. The Department of Basic Education's (DBE) ongoing integration of entrepreneurship education into schools, driven by its E³ (Employability, Entrepreneurship, and Education) initiative, is both timely and urgent. Recently making headlines through its new partnership with the European Union, the DBE has entered a critical phase of implementation that goes beyond theory. The focus is now on embedding practical, challenge-based entrepreneurial learning into the national curriculum (CAPS), starting from the foundation phase. With youth unemployment at crisis levels, this initiative represents a strategic shift towards preparing learners not only for the job market but to become job creators in a rapidly evolving economy. This initiative is a great step toward addressing our country's many socio-economic challenges. According to the CEO and Founder of Centennial Schools, Shaun Fuchs, the challenges we have start with our education curriculum at the basic level. He believes that while South Africa does not have as immense entrepreneurial potential, the education system must do more to equip young people with the skills and mindset to build sustainable businesses. Entrepreneurship has been shown to have a positive impact on various aspects of society, including economic growth, job creation, and social mobility. However, it is quite difficult to be an entrepreneur in South Africa. The most recent Global Entrepreneurship Monitor (GEM) South Africa Report (2023/24) shows that entrepreneurial activity exhibited notable variation across different age groups. In 2023, the highest entrepreneurial engagement levels were observed among individuals aged 25-34 and 55-64, with 18,3% and 19,8%, respectively. In contrast, the youngest age group (18-24 years) demonstrated the lowest level of engagement, with only 10,6% involved in entrepreneurship. This disparity suggests that younger South Africans may encounter more substantial barriers to entering the entrepreneurial ecosystem, potentially due to limited access to resources, networks, or entrepreneurial education. These patterns underscore the necessity of targeted support measures for younger and middle-aged prospective entrepreneurs, enabling them to fully realise their innovative potential and contribute meaningfully to the economy. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Where is the problem, and should we put all the responsibility in the education system?As much as we cannot rely on education alone, entrepreneurship education is a solution that can help learners develop essential and relevant skills such as problem-solving, critical thinking, creativity and innovation, opportunity recognition, resilience, leadership, financial literacy and teamwork. These skills are not only valuable in entrepreneurship but also highly valued by employers, making learners entrepreneurial and employable. To address South Africa's high unemployment rate, the basic education system must shift its focus from preparing learners solely to participate in a job-giving economy to enabling them to actively contribute to a job-creating economy, in addition to the job-giving economy. Traditionally, schooling has emphasised compliance, exam preparation, and readiness for formal employment as the sole path to success. This model reinforces dependency on the government and corporate sectors for job opportunities. If we are intentional about embedding entrepreneurial thinking, problem-solving, and value-creation skills early in the curriculum, the education system can nurture a generation of learners who view themselves as future job creators, not just job seekers. However, this approach requires integrating practical entrepreneurship education, design thinking, and local economic understanding into subjects across all phases. Such a shift will promote self-reliance, community upliftment, and long-term economic resilience. One example is the tt100 Learnership/Internship Programme, which has equipped hundreds of unemployed young South Africans with valuable skills in partnership with The DaVinci Institute, the Department of Science and Innovation (DSI) and others. Supported by the DSI since 1994, this youth empowerment programme showcases and recognises the role of leadership in the management of innovation, and sustainable development with the view to creating an enabling environment for a capable state, through innovation and development of people skills and the capacity of citizens. These are the routes we must take to bring the concept of a job-creating economy into the basic education system, which aligns strongly with South Africa's national economic goals. Due to the country's high levels of youth unemployment outpacing job creation, shrinking formal sectors, automation and public sector overload, sole reliance on a job-giving economy where employment is expected from the government or corporations is no longer sustainable. Shifting the focus of basic education towards nurturing entrepreneurial thinking, self-employment, and value creation, learners can be empowered from an early age to become active economic participants. This approach supports several national priorities, including reducing youth unemployment, growing the small business sector, and fostering inclusive economic participation. It also contributes to economic transformation by promoting a shift from consumption to production, enabling innovation, and reducing dependency on the state for employment. This is in direct alignment with policy frameworks such as the National Development Plan (NDP) 2030, the Economic Reconstruction and Recovery Plan, and the White Paper on Post-School Education and Training, all of which highlight the importance of entrepreneurship, skills development, and job creation. I believe that if we are intentional about positioning entrepreneurship as a core outcome of the basic education system, it will help build a resilient, self-sufficient society equipped for the future.
