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Join us for an incredible week of inspiration, innovation, and connection at the Global Entrepreneurship Week (GEW 2023), brought to you by the American Center Cairo (ACC), in partnership with the AUC Center for Entrepreneurship and Innovation  (AUC CEI)

Global Entrepreneurship Week is a global celebration of entrepreneurship that occurs in the second week of November, from November 13–19 this year. During this week, people from various countries worldwide come together through local, national, and global events to create solutions for worldwide economic growth. Did you know entrepreneurs were first defined as risk-takers in the late 17th century by Richard Cantillon, an Irish-French economist? Entrepreneurs are individuals who start a business, taking a financial risk in the hope of profit. However, with the advent of business analytics methods, these individuals no longer have to hope to make a profit — they can easily forecast the probability of their business being successful by leveraging data.

How to observe global entrepreneurship week?

1. Participate in the Global Entrepreneurship Week events:

   Every year, several events, activities, and competitions occur in countries worldwide to celebrate Global Entrepreneurship Week. Check the internet for the ones happening in an area close to you. Mark the date and come prepared to learn and expand your network.

2. Bring your business idea to life:

   If you have a business idea that you have been contemplating, Global Entrepreneurship Week can be a perfect time to take that leap and make it happen. Business pitching competitions are an essential part of Global Entrepreneurship Week. You can check if there is one happening in your area, enter the competition, and prepare your business plan and pitch ahead.

3. Organize a Global Entrepreneurship Week event:

   If there is no Global Entrepreneurship Week event happening in your local area, why not organize one? Entrepreneurship is a topic that many organizations love to get on board with, especially when it involves youth. That means it will be a little less difficult to obtain sponsorship. Create a project plan and a proposal and submit them to as many like-minded organizations as possible. Don’t wait until you get a signed partnership to start preparing the necessary logistics for the business. The rule of thumb is to prepare three months ahead.

Why global entrepreneurship is important?

1. Entrepreneurship drives innovation:

   Entrepreneurial individuals have brought about every new technology and innovation in recent memory. That includes the likes of Thomas Edison, Steve Jobs, Mark Zuckerberg, Jeff Bezos, and Elon Musk. By introducing new products and services to the market, these entrepreneurs improved the standard of living, evolved society, and paved the way for new markets. We are faced with an unprecedented existential crisis with climate change, and entrepreneurship will be essential in helping us mitigate and adapt to a crisis such as this.

2. Global Entrepreneurship Week recognizes the importance of entrepreneurship to economic growth:

   One of the key reasons Global Entrepreneurship Week was founded is to highlight entrepreneurship as a driver of economic growth. Entrepreneurs are job creators, and through their innovative ideas, they bring about new-and-improved products, services, and technology. All these have a ripple effect on the economy, as it contributes to increased employment, creates more qualified workers for industries, and generates more national wealth.

3. Entrepreneurship contributes to positive social changes:

   Entrepreneurship doesn’t only address economic issues but issues of sustainability too. Social entrepreneurship, for example, helps solve problems of education, water scarcity, and gender equality, contributing to the Sustainable Development Goals.

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