Summit to map the state of entrepreneurship in South Africa

A Global Entrepreneurship Week summit will pull together international experts, key stakeholder and top decision-makers to uncover the challenges facing entrepreneurship, and the way forward to creating a culture of entrepreneurship.

Successful economies around the world are characterised by a dynamic entrepreneurial culture, and entrepreneurship is recognised globally as a powerful job-creation engine. The Global Entrepreneurship Monitor 2008 reports that “high-impact entrepreneurs in particular make an outsized contribution to job creation, sometimes providing for the totality of new net job creation in the economy.”

In South Africa, however, rates of participation in entrepreneurship stand at just 5%, putting the country far behind its peer emerging market countries like Brazil (12%) and Indonesia (19%).

Drawing key stakeholders together

During Global Entrepreneurship Week in November 2009, top decision-makers and key stakeholders will lead a Summit to debate the state of entrepreneurship in South Africa, and investigate possible solutions to the country’s low rates of entrepreneurial activity.

Entitled “The State of Entrepreneurship in South Africa: Strategies for the Future”, the Summit is being made possible by Endeavor SA, official host of Global Entrepreneurship Week in South Africa, along with sponsor First National Bank (FNB) Commercial Banking .

It will take place on 19 November at the FNB Conference and Learning Centre in Sandton.

“As an NGO that supports high-impact entrepreneurs, Endeavor SA is heavily invested in driving debate and influencing policy regarding entrepreneurship in our country,” says Malik Fal, MD of Endeavor SA.

Marcel Klaasen, CEO of FNB Commercial’s BizNetwork, adds, “FNB Commercial Banking is a proud partner of this initiative as it stands testament to our contribution and participation in enabling, growing and accelerating entrepreneurship in South Africa. We hope that the activities around this week initiate ongoing interventions and debate on issues pertaining to entrepreneurship in South Africa.”

Key panelists will drive White Paper discussions

The Summit will kick off with a headline panel discussion that will outline the state of entrepreneurship in South Africa, strengths and challenges. This will set the stage for five breakaway panels dealing with Access to Capital; Incubator Support; Culture of Entrepreneurship; Access to Skills; and Broad-based Black Economic Empowerment and Enterprise Development. Delegates will be able to choose which of these five interactive panel discussions they wish to join.

“We are thrilled to have the likes of Adrian Gore, Hlumelo Biko, Alec Hogg and Mike Herrington on the panels, along with other key stakeholders, decision-makers and successful South African entrepreneurs. The discussions arising out of these panels will be captured in a multi-authored White Paper that will cover key issues and propose innovative solutions to drive a dynamic culture of entrepreneurship in South Africa,” explains Malik Fal, MD of Endeavor SA.

GIBS, which recently launched a full-time entrepreneurship MBA, has a strong focus on entrepreneurship and will sponsoring the Access to Skills panel discussion.

The keynote address will be delivered by Jonathan Ortmans, Head of Global Entrepreneurship Week at the Kauffman Foundation for Entrepreneurship, Kansas City, USA.

Launching the South Africa Fast Growth 100 list

The Summit will also see the official launch of the South Africa Fast Growth 100 list. Founded by AllWorld Network, Professor Michael Porter of the Harvard Business School and Endeavor SA, this initiative will identify and rank the country’s fastest-growing entrepreneurial companies and in so doing, map the South African entrepreneurial landscape.

AllWorld Network co-founder, Deidre Coyle explains, “The fastest-growing entrepreneurial companies across South Africa will become role models of success, inspiring others to pursue entrepreneurial ventures, and thereby foster a culture of entrepreneurship in the country. The South Africa Fast Growth 100 List will also provide real time data into where South Africa is most innovative and best-positioned to create jobs.”

AllWorld launched the Saudi Fast Growth 100 in 2008 and already has its sights set on launching the Arabia 500, the Brazil Fast Growth 100 and the Latin America 500. The South Africa Fast Growth 100 list will be followed by a regional Africa 500 ranking, targeting sub-Saharan African countries. The list is based on revenue performance over five years.

“Winning companies will enjoy national media exposure, earn a powerful endorsement, have the opportunity to network with the other emerging country fast-growth companies and will automatically qualify for the Africa 500,” says Malik Fal from Endeavor SA.

AllWorld Network Chairman and Harvard Business School Professor Michael E. Porter, adds, “The South Africa Fast Growth 100 will demonstrate that emerging company owners in the country are true corporate heroes. These South African men and women represent the leading edge of a new approach to job growth and competitiveness.”

Bookings and information

The State of Entrepreneurship Summit is open to  big business, entrepreneurial enterprises, academia, government, entrepreneur support organisations, the media, and financial and venture capital institutions.

The delegate fee of R500 includes a three-course sit-down gala lunch. Tickets can be purchased by contacting:

Mary Brooks
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
+27 11 884 4145

Details of the event can be found at Endeavor