This week, I was honored to be a lead judge for the US State Department’s Young Transatlantic Innovation Leaders Initiative Fellowship Program Eastern European startup pitch contest, hosted by World Denver. All five of the entrepreneurs who presented had great pitches, and it was a pleasure to work with fellow judges Mike Connolly, Director Economic Development at Rockies Venture Club and Alana Vaughn-Phillips, Investment Operations Manager at Rockies Venture Club.
The 2023 YTILI Fellowship Program, sponsored by the Bureau of Educational and Cultural Affairs of the U.S. Department of State, includes a five-month virtual entrepreneurship curriculum and a four-week Fellowship experience with a U.S. company. Chosen from a competitive applicant pool, the 60 YTILI Fellows represent 36 European countries and reflect a wide variety of industry sectors. The program is a collaborative, enriching experience that combines entrepreneurship training with leadership development and networking opportunities.ytili.org
The winning team was Ukranian company Uff — “The First Direct-From-Consumer Furniture”, lead by founder Alona Prenkovska. Alona will be moving on to pitch in the next competition in Washington DC. Congrats Alona!
ChatGPT, please write a 500 word blog post about the importance of supporting international entrepreneurs:
Entrepreneurship has always been a driving force behind innovation, economic growth, and job creation. However, in today’s globalized world, the success of entrepreneurship is not limited to any particular country or region. International entrepreneurs are playing an increasingly important role in the global economy, and it’s vital to support them.
Here are some reasons why supporting international entrepreneurs is essential:
- Economic Growth and Job Creation
International entrepreneurship has the potential to create economic growth and job opportunities in both the home country of the entrepreneur and the country where they establish their business. By investing in and supporting international entrepreneurs, countries can create a favorable environment for them to start businesses, which can help to create jobs, increase trade, and stimulate economic growth.
- Innovation and New Ideas
International entrepreneurs bring new ideas and approaches to business. By working across borders, they are exposed to different cultures, markets, and technologies, which can lead to innovative solutions and new business models. These new ideas can help to create new products and services, which can benefit not only the entrepreneur but also the local community and the economy as a whole.
- Global Trade and Investment
International entrepreneurs can act as a bridge between countries, facilitating trade and investment between them. By establishing businesses in different countries, they can create new markets for products and services and facilitate the flow of goods and services across borders. This can lead to increased trade and investment, which can benefit both the home country of the entrepreneur and the country where they establish their business.
- Cross-Cultural Exchange
International entrepreneurship can help to promote cross-cultural exchange and understanding. By working with people from different cultures, entrepreneurs can learn about different ways of doing business and different perspectives on the world. This can help to promote understanding and respect between cultures and can lead to the creation of more diverse and inclusive businesses.
- Resilience and Adaptability
International entrepreneurs are often more resilient and adaptable than their domestic counterparts. They have to deal with different legal and regulatory frameworks, cultural differences, and market conditions, which can be challenging. However, this also means that they are more likely to be able to adapt to changing circumstances and find new opportunities.
In conclusion, supporting international entrepreneurs is essential for creating economic growth, promoting innovation, facilitating global trade and investment, promoting cross-cultural exchange, and promoting resilience and adaptability. Governments, investors, and other stakeholders should work together to create a favorable environment for international entrepreneurs, including access to funding, mentoring, and other resources. By doing so, we can create a more prosperous and connected world.
Written by ChatGPT Mar 23 Version