Corporate Partnerships for Entrepreneurship: Building the Ecosystem in the Middle East and Southeast Asia

Abstract

One of the interesting elements of President Barack Obama's statement on economic development in his 2009 Cairo speech is his inclusion of business volunteers as facilitators of development. The President's remarks underscore the degree to which the private sector has become a critical player in development. Many firms have recognized that as the global economy evolves, the sophistication and skill level of consumers, workers and business partners shape not only national standards of living, but feed firm innovation, productivity and profitability as well. In particular, a growing number of corporations are joining governments and public sector actors in building and improving ecosystems to facilitate entrepreneurship, which itself is increasingly identified as a catalyst for economic and social development. Corporations are working strategically to build the culture, develop skills, provide financial resources and create markets to shape environments in which entrepreneurship can flourish.