Date: September 8 to 10, 2016
Venue: Hotel Jen, 2 Dongsihuan Beilu, Chaoyang District, Beijing
The 2016 G20 Young Entrepreneurs Summit took place in Beijing, China from September 8 to 10. Building on the success of our previous G20 Young Entrepreneurs’ Summits, hosted in Canada, France, Mexico, Russia, Australia and Turkey, 2016 focused on hosting a forward looking meeting of young entrepreneurs from across China and around the world under the theme “Disruptive Innovation. Smart Entrepreneurship”.
The G20 YEA Summit in Istanbul focused on a vital element that underpins the ability of young people to start and grow successful businesses around the world: entrepreneurship culture. We know that governments have a key role to play in fostering this culture to support and encourage young people to start their own businesses. Through engagement of thousands of entrepreneurs across our network and in collaboration with the B20, we defined our priorities for entrepreneurship. This was aided by research we conducted in partnership with the G20 YEA knowledge partners EY and Accenture to identify best practices in promoting entrepreneurship and encouraging high-potential growth firms. As a result of our alignment and work with the B20, the B20 Turkish Presidency has endorsed our communiqué.
The young entrepreneurs of the world gathered at the Sydney G20 YEA Summit support the Australian G20 priorities on private sector led growth and greater resilience of the world economy. We call on the G20 Leaders, Finance Ministers and Central Bank Governors to focus on entrepreneurship and agree to implement policies, legislation and incentives for ecosystems that support start-ups and sustainable high growth entrepreneurial SMEs, young entrepreneurs and enhance private sector led growth. Global structural unemployment is a crisis that disproportionately harms young people. Measures to increase youth employment and promote entrepreneurship will increase medium to long-term trend growth and productivity, thus reducing social risks. The nations of the world would improve the return on investment in education by reducing work skills mismatches. The G20 YEA continues to endorse the G20’s call for specific, actionable recommendations to increase growth.
Hundreds of young entrepreneurs from all G20 countries gathered in Moscow for the 2013 G20 YEA Summit. They declared: “Crisis delenda est. Entrepreneurship est memorandum”. Legitimacy of this statement is obvious. We demonstrated that no transitory and short-term measures can succeed without structural reform. This approach was also taken by Angel Gurria, OECD’s Secretary General, during his speech at the B20 Summit in St. Petersburg in June 2013. There is ample evidence to say that any seriously grounded policy to reinvigorate growth and job creation should have entrepreneurship at its core, with a strong emphasis on youth. For the new world not to repeat old mistakes, and for new experience not to produce old conclusions we need to maintain that key strategic sectors of our countries are supported: education, infrastructure and economic law, which should correspond to the realities of business operations.
The 2013 Moscow G20 YEA Summit was an important stepping stone for the G20 Young Entrepreneurs’ Alliance, as many precedents were established for the G20 YEA at this event, including:
Over 400 attendees of the Moscow G20 YEA Summit – young entrepreneurs from all G20 countries – left Russia enriched with new experience, contacts and knowledge shared by their peers from all over the world and by internationally-renown speakers. Most of all, they left with good memories from a hospitable Moscow.
The Moscow summit would not have happened without key financial support from the Moscow City Government.
In conjunction with the 2012 G20 Leaders Summit in Los Cabos, Mexico, more than 400 young entrepreneurs from across the G20 and Latin America met in Mexico City from June 2nd to 5th, 2012. In our discussions, we recognized the important role that young entrepreneurs can play in addressing the priorities of the G20 Leaders as they meet in Los Cabos in 2012.
"The 3rd edition of the G20 Young Entrepreneurs' Alliance Summit took place in Nice from October 31st to November 2nd 2011 with 400 passionate, young entrepreneurs from the 20 member states, with the objective to promote sustainable economic growth and job creation. During the first two days, the delegations participate in workshops and proposed concrete changes to regulation, taxation and financing, which are necessary to ensure a thriving entrepreneurial ecosystem. The G20 YEA Summit concluded with an international conference, entitled "A new generation of entrepreneurs: builders of the 21st century", where the results of the first two days of workshops and gatherings with political leaders, economic experts, professors and industry leading entrepreneurs were shared. With the support of Nicolas Sarkozy, President of the French Republic, the G20 YEA Summit committee had the opportunity to share its recommendations with the G20 Heads of State in Cannes on November 3rd. The G20 YEA Summit is a unique and exceptional occasion to participate in key debates and network with entrepreneurs from all over the world."
From June 20th to 22nd, 2010 entrepreneurs and leaders from the business, government, academic and entrepreneurial sectors across the G20 nations met in Toronto, Ontario, Canada to discuss how to harness the potential of youth entrepreneurship worldwide. Hosted by Futurpreneur Canada (formerly the Canadian Youth Business Foundation or CYBF), the G20 Young Entrepreneur Summit was recognized by the Canadian government as an official G20 event.
After a series of discussions and presentations delivered by young entrepreneurial leaders from around the globe, a communiqué identifying five key policy issues was developed and signed by the presidents of the delegations attending from G20 countries.
Summit participants contributed to a communiqué that identified the five key barriers that discourage young self-starters from launching their own businesses. The five issues were: excessive regulation and taxation; inadequate or inefficient coordination of many of the forms of support that are available; social attitudes that discourage risk-taking or stigmatize failure and the need for specific entrepreneurial education in schools and universities.
This important document, which was presented at the B20 Summit, called upon the G20 countries to recognize that young entrepreneurs can change their lives, their communities, and their economies. It also called upon leaders and decision-makers to address the barriers identified to unlock the power of youth entrepreneurship.
We, the young entrepreneurs from the G8 countries gathered together in Stresa, Italy on 3 July 2009 along with academics, representatives of civil society, and community leaders to connect with each other and discuss how to apply innovative solutions to the current economic situation and set the path towards a sustainable and thriving growth.
The timing of this meeting is particularly appropriate due to the current challenging economic climate and the impact and the fallout that it is having on society and its future. Young entrepreneurs must be recognized as drivers of the economy that can help lead the way to economic recovery through job creation and innovation.
In this context the role of young leaders who naturally have a tendency to focus their energies and resources on the most pioneering processes, on the most innovative design, on the most advanced technology is even more relevant. Many young entrepreneurs live innovation as a natural way to perform because they are less entrenched in models and paradigms inherited from the past. As such, we wish to build the case for the G8 Leaders for the need to agree and develop a strategy to support young entrepreneurship by recognizing the important role we play as engines and key drivers for the future. We should be seen as a resource on which to leverage government policy as well as G8 recommendations and empowered to contribute to discussions on the future directions of trade policy, finance issues, access to markets, access to information, and skills development.
Today, in many countries young people are the most vulnerable and have been hit hardest. Youth is answering this challenge by creating their own jobs, and jobs for others. On this ground, they deserve credit and deserve help. Hence as we recognize the importance of youth entrepreneurship and the fundamental opportunities that it presents, we call upon the G8 Leaders to support and create an environment that facilitates a culture of entrepreneurship through:
Innovation has always been the driving force that fostered human progress. Therefore, as young leaders we focused on four of its main aspects:
Entrepreneurship Skill innovation
To enable growth of successful ventures and spur innovation in our economies we must develop a culture of entrepreneurship. Entrepreneurship needs to be embraced as a way of thinking, encouraged, rewarded and celebrated in a manner which develops a culture of merit.
We as young business leaders value public-private partnership and welcome the opportunity to collaborate with our governments in the development and implementation of youth entrepreneurship strategies.
We urge Governments and policy makers to bring entrepreneurship education into the mainstream of teaching and learning at all levels.
We urge Government leaders to recognize the economic and social value of developing a youth entrepreneurship strategy.
Innovation is the major source of new job creation and a fundamental way of improving living standards.
In order to stimulate investment in innovation, it is crucial to have significant support from financial institutions and markets. At the time of writing, we are concerned that it is increasingly difficult for young entrepreneurs to access credit and risk capital, and consequently the potential for new job creation is being reduced.
It is not only important to have the latest technology, but we believe it is equally vital to have accessible technology. Technology that is cost effective, creates an open and competitive market for growth and is available to all.
We as young business leaders will invest in innovation.
We seek in return tangible commitments from G8 governments to protect intellectual property rights around the world.
Entrepreneurs have a strong impact on society, not only as creators of wealth and jobs, but also as contributors to common good.
Therefore we strongly encourage that the concept of Corporate Social Responsibility be adopted by the majority of companies, and be supported by governments. We also stress the importance of Social Entrepreneurship: entrepreneurs can contribute to sectors that offer social services and at the same time be profitable.
We as young business leaders agree to engage in public/private partnerships that will help our businesses grow and to assist the next generation of entrepreneurs so they are contributors to the economy.
We ask Governments to recognize the importance of private/public partnerships and the important role that young entrepreneurs can play if given the opportunity to engage equally with large corporations in government policy development and procurement opportunities.
We as young leaders see green innovation as an opportunity for growth. This can bring new markets, create new jobs and lead to a more environmentally sustainable development.
Therefore, we encourage companies to adopt the highest level of eco-efficiency and invest in green initiatives. We also encourage the development global partnerships among all countries.
We as young business leaders promote studies on the effects of our corporate carbon footprint and undertake proper actions to decrease it until we are carbon neutral.
We urge governments to create matching incentives for young entrepreneurs to adopt new and greener technologies and also to nurture green innovation.
Supporting entrepreneurship is strong government policy, sound business practice and it is vital to the success of our economies.
We thank the Italian Young Business association (Giovani Imprenditori Confindustria) for hosting this first edition of the G8 Young Business Summit. We will begin to implement our commitments, and ask governments to consider our indications and undertake concrete measures as a follow up to the upcoming G8 summit.
As the founding members of the G8 Young Business Summit we will continue our global commitment to discuss, meet and impact on the global agenda and on the next upcoming meetings as the G20 in the United States and the G8 in Canada, and other globally-related events.