Joining the Forces: The Global Alliance for Mass Entrepreneurship and Its Impact on the Startup Ecosystem
In recent years, there has been an increasing trend of individuals striving to become entrepreneurs, particularly in emerging countries. However, according to a report by the Global Entrepreneurship Monitor, only 14% of the adult population has started a business, and only 17% of startups survive after the first three years. The question then arises, what can be done to promote the growth and success of startups worldwide?
This is where the Global Alliance for Mass Entrepreneurship (GAME) comes into play. GAME is a global coalition of entrepreneurs, investors, and policymakers dedicated to promoting a mass entrepreneurship movement. The alliance has a unique approach to creating an entrepreneurial ecosystem by focusing on finding solutions to the challenges entrepreneurs face, rather than only supporting companies that show promise.
What is the Global Alliance for Mass Entrepreneurship?
The Global Alliance for Mass Entrepreneurship is a public-private partnership, founded in 2018 in India, with an aim to create an entrepreneurial ecosystem where anyone who has the desire and skills can start and grow a successful business. Since its inception, GAME has expanded its footprint in over 30 countries. The organization is unique in its approach as it focuses on four significant areas to create a supportive ecosystem for startups, namely capital, networks, knowledge, and culture.
The Impact of GAME on the Startup Ecosystem
Since its launch, GAME has been making significant contributions to the startup ecosystem worldwide. The alliance’s focus on the four key areas has helped create an environment that encourages and supports entrepreneurship, leading to a positive impact on the business landscape. GAME has been successful in bringing together various stakeholders to create a supportive and collaborative ecosystem for startups to thrive.
Capital
One of the significant barriers to entry for entrepreneurship is access to capital. GAME has been instrumental in creating investment opportunities and connecting entrepreneurs with investors. In India, GAME launched the Mass Entrepreneurship Development Program, which provided training, mentoring, and networking opportunities for aspiring entrepreneurs. Through this program, over 18,000 entrepreneurs received training and support, leading to 5,000 businesses being launched, and over 30,000 jobs created.
Networks
GAME understands the importance of networks and collaboration in entrepreneurship. The alliance has created a network of entrepreneurs, investors, and policymakers, providing entrepreneurs with access to resources and guidance that they may not have otherwise received. GAME has also launched an incubation program in partnership with Nasscom, the Indian IT industry’s association, to provide startups with support in scaling up their businesses.
Knowledge
GAME recognizes that knowledge is essential for entrepreneurs’ success, and has launched various programs to ensure that startups have access to the latest information and tools. In Kenya, GAME launched the ‘Entrepreneurship the Kenyan Way program, providing entrepreneurs with training and resources to build their businesses. The program has been successful in creating over 500 businesses and over 2000 jobs.
Culture
The Alliance recognizes that fostering a culture of entrepreneurship is vital for startups to succeed. GAME has launched campaigns to promote entrepreneurship, such as the ‘Youth Opportunities’ campaign in Kenya, encouraging young people to take up entrepreneurship. By creating a favorable environment for entrepreneurship, GAME has contributed to making entrepreneurship a norm and a respected career option.
Summing Up
The Global Alliance for Mass Entrepreneurship is making significant strides in creating a supportive ecosystem for startups to thrive. The Alliance’s unique approach focusing on finding solutions to the challenges entrepreneurs face has been successful in creating a conducive environment for entrepreneurship. By bridging the gaps in capital, networks, knowledge, and culture, GAME has contributed significantly to the growth of startups worldwide.
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