This year’s MSME Day unfolded as a truly spectacular event, captivating the attention of global audiences with its timely discussions. Convened at the United Nations, subject matter experts from around the world gathered both in person and virtually to address crucial topics ranging from global ecosystem development for MSMEs to the challenges faced by women and youth entrepreneurs, as well as the transformative power of innovation. Against a backdrop of urgency, unity, and hope, the event emphasized a human approach and the allocation of vital resources such as funds, toolkits, and other support services. Recognizing that MSMEs constitute over 90% of global businesses and serve as the backbone of economies worldwide, speakers shed light on how to overcome the multiple shocks and crises that have disrupted the global working environment for these micro-, small-, and medium-sized enterprises.

Throughout the event, representatives stressed the importance of offering comprehensive support portfolios to MSMEs, both to strengthen businesses in developing economies but also to reduce the risk of pursuing entrepreneurship in developed countries. The significance of innovation as a lifeblood for successful entrepreneurship was underscored, so was the need for high-touch, high-meaning solutions. Notable speakers shared their insights including approaches such as “learning by feeling” to empower women entrepreneurs. Furthermore, participants emphasized the role of MSMEs in shaping national policies and highlighted the strategic plans required to galvanize them, ensuring responsible entrepreneurship and knowledge transfer alongside new public support.

Amidst the exchange of ideas and experiences, a shared sense of excitement permeated the discussions, as participants recognized the promising path ahead. The event served as a call to action, urging all stakeholders to embrace the opportunities and challenges that lie ahead. With perspectives shared from diverse economies such as Germany, South Africa, Switzerland, Italy, Saudi Arabia, and others, the discussions echoed the global nature of MSMEs and the collective responsibility to foster their growth and sustainability. MSME Day set the stage for a future where MSMEs thrive and contribute to a more inclusive and prosperous world. As the echoes of the discussions linger, it is our collective duty to heed the call and embark on the journey towards empowering MSMEs, shaping policies, and creating an environment conducive to their success.

As we venture into the forthcoming year, take a moment to reflect on the role you can play in supporting MSMEs. Let us ask ourselves: How can we contribute to their success? Whether it entails making a conscious effort to buy local, enthusiastically spreading the word about their offerings, forging partnerships with MSME associations, or advocating for the simplification of regulations and procedures, each and every one of us has the power to make a tangible difference. By embracing these actions, we can collectively play an instrumental part in fostering an environment where MSMEs thrive and flourish.

Written by: Emmanuel Moges – Analyst at FedTech

The United Nations MSMEs Day has concluded, leaving us inspired and invigorated by the collective commitment to support youth, women, and resilient supply chains. As we express our sincere appreciation to all who attended, it is essential to recognize the remarkable efforts of Argentina’s Mission, commend the invaluable contributions of our partners, and extend gratitude to Dr. Ayman ElTarabishy for his unwavering dedication to making MSMEs Day a focal point of collaboration and engagement.

Moreover, we are thrilled to announce that the event’s memorable moments can now be revisited through the availability of photos and videos.

Expressing Gratitude:

We extend heartfelt gratitude to all those who joined us for the UN MSMEs Day. Your presence, active participation, and commitment to supporting micro, small, and medium-sized enterprises (MSMEs) underline the importance of fostering inclusive and sustainable economic growth. Together, we are shaping a brighter future for MSMEs and empowering them to thrive.

Commending Argentina’s Leadership: We commend the Mission of Argentina for its exemplary leadership in championing MSMEs Day. Their dedication to advancing the theme of supporting youth, women, and resilient supply chains has resonated deeply, inspiring collective action and underscoring the crucial role of MSMEs in achieving sustainable development goals. Argentina’s Mission has set a remarkable precedent, and we are grateful for their vision and unwavering support.

Acknowledging Our Partners: We extend our heartfelt appreciation to all the partners who joined hands with us in making UN MSMEs Day a resounding success. Your collaboration, expertise, and resources have been instrumental in creating a meaningful and impactful event. We have fostered a global network of support for MSMEs and paved the way for inclusive and equitable economic growth.

Recognizing Dr. Ayman ElTarabishy: A special acknowledgment goes to Dr. Ayman ElTarabishy for his exceptional commitment and leadership in making MSMEs Day a focal point for all partners to join and engage. Dr. ElTarabishy’s unwavering dedication to advancing the cause of MSMEs has been instrumental in creating a thriving platform for knowledge-sharing, collaboration, and innovation. We are grateful for his tireless efforts in empowering MSMEs and advocating for their needs.

Photos and Videos: We are thrilled to announce that pictures and videos capturing the emotional moments of UN MSMEs Day are now available. Through this visual documentation, relive the inspiring discussions, insightful presentations, and engaging networking opportunities. These resources will serve as a reminder of the collective commitment and a catalyst for continued action in supporting worldwide MSMEs.

UN MSMEs Day has been an incredible testament to the power of collaboration and the collective commitment to youth, women, and resilient supply chains. As we express our gratitude to all who attended, we extend our deepest appreciation to Argentina’s Mission, our esteemed partners, and Dr. Ayman ElTarabishy for their unwavering dedication. Let us continue to build upon the momentum generated by this event and foster an environment where MSMEs can thrive and contribute to sustainable economic development.

UN MSMEs Day.

Photos of the Day (click here)
Concept Note
Agenda

Videos now available at UN Web TV:
Part I | Part II

Galvanizing MSMEs: Empowering Women, Youth, and Resilient Supply Chains

Marking June 27 as the United Nations’ Micro, Small, and Medium-sized Enterprises Day (UN MSMEs Day), we take the opportunity to celebrate and reflect on the tremendous contributions of MSMEs to the global economy, particularly emphasizing on the roles of women and youth entrepreneurship and resilient supply chains.

MSMEs, which make up over 90% of global businesses, serve as the backbone of economies worldwide. This year, the UN MSMEs Day focuses on the theme of ‘Galvanizing MSMEs worldwide by supporting women and youth entrepreneurship and resilient supply chains’.

This highlights the importance of investing in female and young entrepreneurs, who bring fresh perspectives and innovative solutions to the business world. Empowering them not only boosts economic growth but also fosters social development.

Furthermore, the resilience of supply chains has proven critical, especially in the wake of the COVID-19 pandemic. MSMEs, playing key roles in these chains, require support to strengthen their resilience and capacity to withstand future shocks.

UN MSMEs Day is a call to action for governments, policy-makers, and businesses to create a conducive environment for these enterprises to flourish. It’s a day to champion the empowerment of women and youth in business and to strengthen supply chains, fostering a robust and resilient global economy. Let’s galvanize our efforts to support the critical drivers of sustainable development – the MSMEs.

Follow the Live Sessions at:

AM session: https://media.un.org/en/asset/k1f/k1fhw9tavo
PM session: https://media.un.org/en/asset/k17/k17v91jhnv

South Korea has established a reputation for its strong commitment to innovation, consistently ranking among the top countries worldwide in research and development (R&D), patents, creativity, and corporate-academic collaboration. The government has collaborated closely with industry partners “chaebols” such as SK Group and Samsung to foster a culture of innovation and drive technological advancements.

It was during the 1980s that South Korea first witnessed the emergence of startups. While South Korea may not have traditionally been renowned for entrepreneurship, the country has been experiencing a significant shift in recent years, demonstrating a growing entrepreneurial spirit. Evidence of this is seen in various aspects of South Korea’s evolving business landscape. For instance, the country has witnessed a surge in startups and venture capital investments and is now home to several unicorns and thousands of successful startups. This was made possible through government initiatives including tech incubator programs, the creation of a ministry of SME’s as well as considerable support for self-employment. All this created a favorable environment for entrepreneurship, allowing for newly opened ventures to scale across Asia. South Korean startups have gained global recognition, successfully launching innovative technologies and services in sectors such as technology, e-commerce, entertainment, and cosmetics. This emergence of a vibrant startup ecosystem and the recognition received by South Korean entrepreneurs are clear indicators of the changing perception and increasing prominence of entrepreneurship in the country.

What is even more promising is the focus on social entrepreneurship. Some research indicates that South Korea is among the countries that went the furthest in the promotion of social enterprise models. South Korea introduced the Social Enterprise Promotion Act in 2007, supporting the development of social enterprises. The active promotion of social enterprises has led to several successful ventures focused on job creation, health care, the environment, poverty reduction, education and more. These ventures are supported by a strong entrepreneurial ecosystem and infrastructure including incubators, accelerators, prize competitions, co-working spaces and communities such as K-Startup, Spark Labs, and Google for Startups Korea. Additionally, South Korea has a thorough social venture valuation model used to determine the innovation and growth potential of ventures.

It appears that the essential elements of a thriving ecosystem, including policy, physical infrastructure, financial support, corporate engagement, and robust networks, have been effectively established. So, what are the effects of such an ecosystem? Well, extensive research on the impact of social entrepreneurship in regional economic development within the country showcases how social entrepreneurship can serve as a viable model that holds relevance for application in other regions. A remarkable example of development through social ventures can be seen in the education sector. Social enterprises have introduced novel approaches to tackle educational inequality and enhance learning outcomes. Through utilizing technology, creative teaching methodologies, and community involvement, these initiatives have empowered underprivileged communities, narrowed the education gap, and created a skilled workforce for the future.

Many countries can learn a thing or two from this robust ecosystem.

Article written by: Emmanuel Moges, Venture Fellow at FedTech

Unlocking the full potential of innovative technologies like ChatGPT relies on asking well-formulated questions. It is akin to driving a high-performance sports car, where using only the first gear limits your ability to fully utilize its power. Similarly, many organizations face a similar dilemma, failing to tap into the true potential of the technologies they employ and yielding superficial outcomes. This is particularly relevant today with the emergence of controversial generative AI tools such as ChatGPT and Microsoft Bing.

Generative AI operates on the principles of the ancient Socratic Method, engaging in a dialogue of questions and answers between the user and the system. This interactive model, rooted in the teachings of Socrates over two millennia ago, forms the foundation of human-machine interaction. Notably, the roles of teacher and student can be reversed, with humans teaching machines and machines assuming the role of the teacher. To achieve objective and effective results, it is imperative to ask insightful questions in any given scenario. This need is heightened in our current era, where access to knowledge is abundant, resulting in a deluge of information that makes it challenging to discern what truly matters. When interacting with generative AI, this demand becomes even more crucial due to the technology’s unparalleled ability to consolidate vast amounts of information from diverse sources.

Therefore, I strongly emphasize the significance of asking good questions, paying attention to subtle variations that can significantly impact understanding, particularly when engaging with generative AI. Factors such as tone, format, purpose, limitations, and more should be considered. Additionally, as the conversation progresses, incorporating multiple interactions and considering these variations will yield more refined responses. A compelling example of the importance of generating meaningful interactions with generative AI can be observed in the recent valuation of job postings for AI prompt engineers in the United States, with average annual salaries reaching approximately $0.32 million. This analogy can be likened to the story of the genie in the lamp, wherein making intelligent requests along the way is crucial to avoid misinterpretation, which can lead to unexpected and sometimes detrimental outcomes.

Posing well-crafted questions enables greater speed and efficiency. Moreover, asking the right questions grants the freedom to harness the full potential of available technologies, akin to fully utilizing the capabilities of a sports car. To delve deeper into collaboration and interaction with generative AI, one can explore search engines, consult an extended generative AI advisor, or engage with human consultants. Importantly, it is worth noting that this article was generated in the traditional manner, without the known addition of artificial intelligence.

Through asking good questions, we can foster the coexistence of Homo sapiens and “homo artificialis,” this evolving new species.

Written by: Henrique C. Mariano, Founder of Creatinsights, member of Insper Angels and Angels Investor Club.

The benefits of a multi-cultural, multi-disciplinary, immersive environment for entrepreneurship education are increasingly recognized and supported by academic research. Numerous academic papers from around the world have delved into this topic, featuring entrepreneurs from diverse regions such as the United States, India, China, the Netherlands, and more. This approach to entrepreneurship education not only strengthens the understanding of the topic but also potentially the outcomes of entrepreneurial pursuits. Participants from past research studies and ICSB Academy members have reported gaining a deeper understanding of what it takes to launch a successful venture, receiving valuable feedback, and accessing a strong entrepreneurial ecosystem through their participation. Through embracing this three-pronged model to entrepreneurship education ICSB’s 2023 Academy offers students several advantages.

This approach to entrepreneurship education fosters diverse perspectives by bringing together individuals from various cultural backgrounds. This diversity enhances creativity, encourages innovative thinking, and enables students to consider alternative solutions to entrepreneurial challenges. Additionally, the immersive environment cultivates cultural sensitivity and a global mindset. Students gain a greater understanding of different cultures, customs, and business practices, preparing them to navigate the complexities of international markets and form cross-cultural partnerships.

The immersive aspect of the program, including site visits and various challenges, further reinforce the benefits of this approach. Participants are exposed to real-world scenarios, enabling them to apply their knowledge and skills in practical settings. The final pitching competition provides a platform for participants to showcase their innovative ideas, gain valuable feedback, and potentially bring their visions to life. This experiential learning supports social impact and facilitates deep learning. The cohort-based approach, where participants are grouped together and assigned a coach, adds another layer of support and guidance. This structure promotes peer learning, encourages a sense of community, and allows for personalized mentorship throughout the program.

Participants of this year’s Academy benefit from the collective wisdom and experience of their peers and mentors, enhancing their entrepreneurial journey. The multi-disciplinary nature of the Academy promotes collaboration and increases knowledge transfer among participants. Working in teams comprising individuals with diverse skill sets and knowledge from different disciplines facilitates effective teamwork, communication, and cross-cultural understanding. This collaboration not only enhances the learning experience but also paves the way for potential future partnerships.

Through embracing this entrepreneurship education model this year’s ICSB Academy promises to be an exceptional opportunity for aspiring entrepreneurs to grow, learn, and forge lasting connections.

 Article written by Emmanuel Moges, Venture Fellow at FedTech