Photonic Tensor Cores Boost Machine Learning Capacity for Optical Feeds and 5G

Photonic Tensor Cores Boost Machine Learning Capacity for Optical Feeds and 5G

Photonic Tensor Cores Boost Machine Learning Capacity for Optical Feeds and 5G

Saturday, July, 25, 2020, by  EE Times

A new approach to performing neural network computations for machine learning using photonic tensor cores instead of graphics processing units (GPUs) suggests 2-3 orders higher performance can be achieved for processing optical data feeds. It also indicates that photonic processors have the potential to augment electronic systems and may perform exceptionally well in network-edge devices in 5G networks.

The work has been published in the Applied Physics Review journal, in a paper, “Photon-based processing units enable more complex machine learning,” by Mario Miscuglio and Volker Sorger from the department of electrical and computer engineering at George Washington University in the United States.

In their approach, a photonic tensor core performs multiplications of matrices in parallel, improving speed and efficiency of deep learning. In machine learning, neural networks are trained to learn to perform unsupervised decision and classification on unseen data. Once a neural network is trained on data, it can produce an inference to recognize and classify objects and patterns and find a signature within the data.

The photonic TPU stores and processes data in parallel, featuring an electro-optical interconnect, which allows the optical memory to be efficiently read and written, and the photonic TPU to interface with other architectures.

“We found that integrated photonic platforms that integrate efficient optical memory can obtain the same operations as a tensor processing unit, but they consume a fraction of the power and have higher throughput and, when opportunely trained, can be used for performing inference at the speed of light,” said Mario Miscuglio, one of the authors.

Most neural networks unravel multiple layers of interconnected neurons aiming to mimic the human brain. An efficient way to represent these networks is a composite function that multiplies matrices and vectors together. This representation allows the performance of parallel operations through architectures specialized in vectorized operations such as matrix multiplication.

Photonic tensor core and dot product engine
(a) The photonic tensor core (PTC) is constituted by a 16-dot product engine that inherently and independently performs row by column pointwise multiplication and accumulation. (b) The dot product engine performs the multiplication between two vectors. The ith row of the input matrix is given by WDM signals, which are modulated by high-speed (e.g., Mach–Zehnder) modulators. The jth column of the kernel matrix is loaded in the photonic memory by properly setting its weight states. Availing light-matter interaction with the phase- change memory, the inputs, opportunely spectrally filtered by micro-ring resonators (MRR), are weighted in a seemingly quantized electro-absorption scheme (i.e., amplitude modulation), thus performing element-wise multiplication. The element-wise multiplications are incoherently summed up using a photodetector, which amounts to a MAC operation (Dij). (Image: Mario Miscuglio and Volker Sorger)

The more intelligent the task and the higher accuracy of the prediction desired, the more complex the network becomes. Such networks demand larger amounts of data for computation and more power to process that data. Current digital processors suitable for deep learning, such as graphics processing units (GPUs) or tensor processing units (TPUs), are limited in performing more complex operations with greater accuracy by the power required to do so and by the slow transmission of electronic data between the processor and the memory.

The researchers showed that the performance of their TPU could be 2-3 orders higher than an electrical TPU. Photons may also be an ideal match for computing node-distributed networks and engines performing intelligent tasks with high throughput at the edge of a networks, such as 5G. At network edges, data signals may already exist in the form of photons from surveillance cameras, optical sensors and other sources.

“Photonic specialized processors can save a tremendous amount of energy, improve response time and reduce data center traffic,” said Miscuglio. For the end user, that means data is processed much faster, because a large portion of the data is preprocessed, meaning only a portion of the data needs to be sent to the cloud or data center.

Making the case for optical versus electrical

The paper presents a case for taking the optical route for carrying out machine learning tasks. It said in most neural networks (NNs) which unravel multiple layers of interconnected neurons/nodes, each neuron and layer as well as the network interconnectivity is essential for the task for which the network has been trained. In their connected layer, NNs strongly rely on vector matrix math operations in which large matrices of input data and weights are multiplied, according to the training. Complex, multi-layered deep NNs require a sizeable amount of bandwidth and low latency to satisfy the vast operation required to perform large matrix multiplication without sacrificing efficiency and speed.

So how do you efficiently multiple these matrices? With general purpose processors, the matrix operations take place serially while requiring continuous access to the cache memory, generating the von Neumann bottleneck. Specialized architectures such as GPUs and TPUs help reduce the effect of these von Neumann bottlenecks enabling some effective machine learning models.

GPUs and TPUs are particularly beneficial compared to CPUs, but when used to implement deep NN performing inference on large 2-dimensional datasets such as images, they can be power-hungry and require longer computation runtime (greater than tens of milliseconds). Smaller matrix multiplication for less complex inference tasks are still challenged by a non-negligible latency, predominantly due to the access overhead of the various memory hierarchies and the latency in executing each instruction in the GPU.

The authors of the paper suggest that given this context, it is necessary to explore and reinvent the operational paradigms of current logic computing platforms, in which matrix algebra relies on continuous access to memory. In this respect, the wave nature of light and related inherent operations, such as interference and diffraction, can play a major role in enhancing computational throughput and concurrently reducing the power consumption of neuromorphic platforms.

They suggest that future technologies should perform computing tasks in the domain in which their time varying input signals lay, exploiting their intrinsic physical operations. In this view, photons are an ideal match for computing node-distributed networks and engines performing intelligent tasks over large data at the edge of a network (e.g., 5G), where the data signals may exist already in the form of photons (e.g., surveillance camera, optical sensor, etc.), thus pre-filtering and intelligently regulating the amount of data traffic that is allowed to proceed downstream toward data centers and cloud systems.

This is where they explore the approach using a photonic tensor core (PTC) able to perform 4 × 4 matrix multiplication and accumulation with a trained kernel in one shot (i.e., non-iteratively) and entirely passively; in other words, once a NN is trained, the weights are stored in a 4-bit multilevel photonic memory directly implemented on-chip, without the need for either additional electro-optic circuitry or off-chip dynamic random-access memory (DRAM). The photonic memories feature low-loss, phase-change, nanophotonic circuits based on wires of G2Sb2Se5 deposited on a planarized waveguide, which can be updated using electrothermal switching and can be read completely optically. Electrothermal switching is enabled by tungsten heating electrodes, which clamp the phase change memory (PCM) wire.

Photonic tensor core performance
Tensor core performance comparison. Electronic data-fed (left column) photonic tensor core (PTC) offers 2–8 × throughput improvement over Nvidia’s T4 and A100, and for optical data (e.g., camera) improvements are ∼60× (chip area limited to a single die ∼800 mm2). (Table: Mario Miscuglio and Volker Sorger)

The authors said this work represents the first approach toward the realization of a photonic tensor processor storing data and processing in parallel, which could scale the number of multiply-accumulate (MAC) operations by several orders of magnitude while significantly suppressing power consumption and latency compared to the state-of-the-art hardware accelerators delivering real-time analytics.

Unlike digital electronics, which rely on logic gates, in integrated photonics, multiplication, accumulation, and more in general linear algebraic operations can be performed inherently and non-iteratively, benefiting from the intrinsic parallelism provided by the electromagnetic nature of the signals and efficient light matter interaction. In this regard, integrated photonics is an ideal platform for mapping specific complex operations one-to-one into hardware, and in some cases algorithms, achieving time complexity.

The Future of Leadership

The Future of Leadership

The Future of Leadership

Saturday, July, 18, 2020

By engaging with the human spirit and, further, embodying this engagement, leaders become servants to the very people that they seek to guide.

As I am transitioning into a new leadership position, I am confronted with the higher truths of leadership and how they unfold within an entrepreneurial orientation and, further, a humane entrepreneurial orientation (as found in the theory and practice of Humane Entrepreneurship, or HumEnt). Leadership grasps the critical importance of creating workplace climate and culture, thus determining the state of the Humane Entrepreneurship at any given enterprise.

Since performance is often considered the result of environmental characteristics and an organization’s internal structure and systems, we must look to the climate and culture creating mechanisms at play within organizations. Leadership is one of significant, if not total, importance. 

Within the examination of leadership, effective leadership most often refers to the “ability of a firm’s top managers to select and apply the ‘correct’ strategic approach or effectively implement an appropriate strategy” (Kim et al. 2018). In motivating employees, or “followers,” to carry out activities determined by leaders, such leadership must provide “desirable rewards for effective performance or undesirable consequences for poor performance” (Hollander 1992). Termed “transactional leadership,” this is typically categorized into “social exchange” (Graen and Uhl-Bien 1995). Conversely, “transformational leadership” works based on inspiring individuals to “perform at exceptional levels” (Bass 1985). In this case, a leader inspires their followers by creating an ecosystem of similar values, beliefs, and goals, so that followers feel a sense of ownership and commitment to their work.

In either case, this top-level leadership determines organizational performance. Leadership within organizations that are humanely and entrepreneurially orientated serves “more complex and difficult roles than traditional leaders” (El Tarabishy and Sashkin 2006). These specific roles involve the typical leading requirements of encouraging employees and followers to engage with their work as well as their own innovative and proactive projects.

Within an entrepreneurial spirit, which itself belongs to the principles of innovation, leadership involves discovering new ways to connect with one’s employees, and therefore, entrepreneurship is deeply seated in the great adventure of connecting to the human spirit. It is this relation, namely, that if successfully fused, it can seamlessly generate a culture of efficacy, empathy, progression, innovation, creativity, and determination.

In understanding this quite spiritual force at play within-firm success, our definition of Humane Entrepreneurship must consider an even greater appreciation of appropriate leadership strategies that will eventually direct us to a type of leadership that functions more authentically and aligns more closely to the human person.

If leaders can be a driving force for organizational performance, we might consider servant leadership as a final solution to our incomplete leadership equation. In understanding that an organization based and, even, created in light of humane entrepreneurship will generate enormous wealth and increase employment opportunities, the role of the leader in this climate and culture-creating effort must also come from a human-focused center.

The servant-leader is the servant first. It begins with the natural feeling that one wants to serve, to serve first. Then conscious choice brings one to aspire to lead. That person is sharply different from one who is leader first, perhaps because of the need to assuage an unusual power drive or to acquire material possessions. The difference manifests itself in the care taken by the servant first to make sure that other people’s highest priority needs are being served. The best test, and difficult to administer, is: Do those served grow as persons? Do they, while being served, become healthier, wiser, freer, more autonomous, more likely themselves to become servants? And, what is the effect on the least privileged in society? Will they benefit or at least not be further deprived?” (Greenleaf 2016).

In my understanding of building a workplace climate and culture that is both cyclical and just, servant leadership seems to be the missing, next step in our high-performance puzzle. Despite society’s desire and sincere belief that followers work most efficiently by submitting to orders, the application of the principles of Humane Entrepreneurship, and specifically those components of servant leadership, flips this idea on its head, by stating that employees will produce higher quality work at greater efficiency when they are lifted as individuals first and as employees second. By engaging with the human spirit and, further, embodying this engagement, leaders become servants to the very people that they seek to guide.

Servant leadership can, then, be thought to be the way of the future. In signaling to our teams and employees that their advancement, autonomy, and growth, both professionally and personally, is of utmost significance in our lives, we might just initiate a new wave of enterprise for our firms, nations, and society at large.

Article by:

Dr. Ayman El Tarabishy
President & CEO, ICSB
Deputy Chair, Department of Management, GW School of Business 

Resources

Bass, B. M. (1985). Leadership and Performance beyond Expectations. New York: Free Press.

El Tarabishy, A, and M. Sashkin (2006). “Entrepreneurial Leadership: Exploration of a New Construct,” Paper presented at the Bi-Ennial Gallup National Leadership Conference, Washington, DC, October.

Graen, G. B., and M. Uhl-Bien (1995). “Relationship-Based Approach to Leadership: Development of Leader-Member Exchange (LMX) Theory of Leadership over 25 Years: Applying a Multi-Level Multi-Domain Perspective,” The Leadership Quarterly 6(2), 219–247.

Greenleaf, K. (2016). “The Servant as Leader,” Center for Servant Leadership. Available at (click here)

Hollander, E. P. (1992). “Leadership, Followership, Self, and Others,” Leadership Quarterly 3(1),43–54.

Kim, K., A. El Tarabishy, Z. Bae (2018). “Humane Entrepreneurship: How Focusing on People Can Drive a New Era of Wealth and Quality Job Creation in a Sustainable World,” Journal of Small Business Management 56(S1), 10–29.

JSBM Special Issue: Humane Entrepreneurship from Research to Practice

JSBM Special Issue: Humane Entrepreneurship from Research to Practice

JSBM Special Issue: Humane Entrepreneurship from Research to Practice

Wednesday, July, 15, 2020

Humane Entrepreneurship from Research to Practice

The UN Declaration of the Micro and Small Business (MSMEs) Day, spearheaded by the International Council for Small Business (ICSB), has been a critical milestone in the fulfillment of ICSB’s mission to support entrepreneurs and small business is progressing towards inclusive economic growth. The Declaration, while highlighting the complexity and the multidimensionality of the entrepreneurial role, recognizes the role of MSMEs in the achievement of the UN – Sustainable Development Goals (SDGs).

The ICSB Forums held at the United Nations Headquarters in New York, together with the organization of a broad portfolio of congresses and conferences all around the world, have been valuable opportunities to connect and celebrate organizations and individuals committed to helping MSMEs move in the direction of creating more decent jobs while protecting the environment as well as their local communities. This movement fostered a new type of research activity around the concept of the Humane Approach to Entrepreneurship. In particular, thanks to the pioneering work of Prof. Ki-Chan Kim and Ayman El Tarabishy, an international group of researchers was assembled to define the concept (humaneentrepreneurship.org) better. This was intended as a model for firms’ growth based on entrepreneurial orientation, leadership, and fair human resource management. Furthermore, in a pair of articles published by JSBM (56-S1, 2018), the Humane Entrepreneurship concept was at first defined as a means to create both financial wealth and new high-quality jobs (Ki Chan et al., 2018), and, subsequently, as a strategic posture defined by the capability to provide leverage on Entrepreneurial Orientation, and at the same time,  on orientation towards executive and employees welfare and orientation towards social and environmental sustainability (Parente et al. 2018, Parente et al. 2020).

Today, management and entrepreneurship research is theory-driven to a much larger extent. A significant challenge for Humane Entrepreneurship research, therefore, is to prove the existence of Human Entrepreneurship Orientation (HumEnt) and define a measurement scale for performing analysis with a solid theoretical grounding. This special issue is a starting point to make suggestions as to exactly how this should be done. We do note, however, that strategy research increasingly deals with dynamic issues that are mostly entrepreneurial. Potentially, Humane Entrepreneurship research can find its ideal habitat within these proactive approaches in strategy research.

The focus on orientations is a well-grounded perspective from which to study entrepreneurship at the firm level (Miller and Friesen, 1982; Covin and Slavin, 1991; Lumpkin and Dess, 1996), and is in line with the Theory of Planned Behaviour (TBP) (Ajzen, 1991), which states that behavioral intentions guide our decision pathways.

From this point of view, Humane Entrepreneurship (HumEnt) can be viewed as a strategic posture that inspires new forms of entrepreneurial strategies for wealth creation (Ireland and Al, 2001). This can be compared to the triple bottom line approach that argues for jointly optimizing social, environmental, and economic returns (“people, planet, profits”). The inventor of that concept, John Elkington, recently noted that scholars and managers have struggled to operationalize it productively. Interestingly, his proposed operationalization looks much like the theme of humane entrepreneurship offered here (Kraaijenbrink, 2020 .) Another even older approach is from EF Schumacher’s classic Small is Beautiful: A Study of Economics as if People Mattered that argued that while humans enable any system, should systems also enable humans? One needs entrepreneurial thinking to make that happen. To Elkington’s point, how do we move from trade-offs between his 3 Ps toward synergies?

The concept of HumEnt as a new theoretical construct has its roots in well-established fields of studies in Management and Entrepreneurship. One of the primary inspirational sources can be found within Corporate Social Responsibility (CSR), a conceptualization that captures the idea that corporations have not only economical (and legal) obligations but some ethical and discretionary (philanthropic) responsibilities as well (Carroll, 1991). The CSR influence on the strategic entrepreneurship theory is not new at all; an example can be found in Hitt et al. (2011), where they argued that successful strategic entrepreneurial activity should create value for customers, stockholders, and other stakeholders.

From a broader perspective, the Humane Entrepreneurship concept is in line with a philosophical line of thought that argues over the influence of ethical dimensions in the emergence of orientations and behaviors of economic agents. Even if traces of this discourse can already be found in the works of enlightenment philosophers that defined the field of economy as a new scientific field in the 18th century,  more recently, there has been a rising interest in the role of ethics in management. The ethics perspective has to lead to a fine-grain distinction between immoral, amoral, and moral orientations in management (Carroll, 2001), while more recent work introduced the difference between egotistic, altruistic, and biospheric orientation (De Groot and Steg, 2008). On a positive side, Humanistic Management emerged as a managerial (and possibly entrepreneurial) orientation characterized by “management which emphasizes the human condition and is oriented to the development of human virtue, in all its forms, to its fullest extent” (Melé 2003).

Humane Entrepreneurship, as a strategic posture, is still in its infancy state and, similar to concepts focusing on entrepreneurship at the firm-level, needs an effort of clarification about the epistemology of firm-level orientations, real entrepreneurial events, and organizational performances, and the structure of the links between them (Kantur, 2014).

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Special Issue Editor(s)

KiChan Kim, Catholic University
kckim.kckim@gmail.com

Roberto Parente, Salerno University
rparente@unisa.it

Alex DeNoble, San Diego State University
adenoble@sdsu.edu

Jeffrey Hornsby, The University of Missouri–Kansas City
hornsbyj@umkc.edu

New ICSB Board of Directors

New ICSB Board of Directors

Welcome to the New ICSB Board of Directors

Monday, July 13, 2020

Welcome to the New ICSB Board of Directors

Monday, July 13, 2020

Welcoming to a New Dawn for ICSB

Almost two months ago, I presented my vision for a “New Dawn for MSMEs and Startups.” As the world begins its new normal post-COVID-19, ICSB is also beginning its new normal for a prosperous future built on the organization’s four core principles, which include research and teaching, education, and policy. As my time as ICSB’s President comes to an end. I would like to welcome you all into this New Dawn for ICSB. 

Looking at this past year, it seems truly incredible at the pace of change. Together, the ICSB community has accomplished truly incredible feats. To name a few:

  • We are now a community of ICSB members that are truly global.
  • Our current Knowledge-Hubs (KHUBs) include UnRaf, Houston Community College, Arab Academy, Rowan University, George Washington University, Chrome, San Diego State University, Compania School, Lisa Lab, and the Institute of Public Accountants.
  • We have successfully educated our first SDG Certificate Cohort, two Social Entrepreneurship Certificate Cohorts, one Where to Play Cohort, and one Navigating Market Opportunities Cohort.
  • We have participated in hosting or co-hosting the California Entrepreneurship Educators Conference (1128 Registrants), the ICSB 1st Virtual Family Business Conference, MSMEs Day Celebration and Day of Action Conferences (June 25th and 27th).
  • MSMEs Day Celebration and Day of Action reached over 3,948 People through ICSB’s Facebook.
  • We have published over 50 webinars on ICSB TV, compiling over 9,762 views and reaching over 1,000 hours of viewed webinars.

I wanted to share these statistics to portray how truly incredible this organization is. Despite the multiple internal and external setbacks faced by ICSB this year, we have endured. We have embodied what we seek to support: the opportunity for all. It has certainly been a great pleasure of mine serving you, the ICSB community. My colleagues and this community are absolutely remarkable, and that is why it is my great pleasure to pass this capable organization over to a new board to build upon this past year’s foundations. I can not wait to watch ICSB thrive in the year to come.

As per our outgoing board meeting on July 9th, I am pleased to announce that I will continue to work with and for ICSB as the Chair of the Board of Directors. This organization’s success has become a passion of mine. As it is the community and those within it have found a place into my heart, I would like to express my true appreciation and deep gratitude to our board for allowing me the opportunity to sit as the inaugural Chair of the ICSB Board under our 2020 bylaws.  

As your Board Chair, I would like to present and congratulate ICSB’s new Board of Directors:

  • Winslow Sargeant, Incoming Chair of the Board
  • Rita Grant, Board Member
  • Vicki Stylianou, Board Member
  • Jordyn Murphy, Board Member
  • Jeff Alves, Board Member
  • Alex DeNoble, Board Member
  • Amr AbouElazm, Board Member
  • Hermawan Kartajaya, Board Member
  • Ricardo Alvarez, Board Member
  • Charles Matthews, Board Member

I would also like to thank all our outgoing board members who I am sure will remain loyal members of ICSB.

I can think of no better or more equipped group of individuals to lead this organization towards its fullest potential. I congratulate each and every one of you and look forward to continuing to work as your Chair. 

I would also like to take this opportunity to announce our new President and CEO of ICSB. Please join me in congratulating Dr. Ayman El Tarabishy as he transfers from his role as Executive Director of ICSB to President and CEO. Throughout my year working as President, Ayman has proved himself a dedicated servant to ICSB, a collaborative colleague, and a dear friend. After watching Ayman’s dedication and passion, I can think of no better person to lead us into our “New Dawn” as one strong, united ICSB.
Welcome to the new world of ICSB!
 
Ahmed Osman
Chairman of the ICSB Board

ICSB Board Positions:

ICSB HQ Staff:

Untech, el despertar de un medicamento Argentino

Untech, el despertar de un medicamento Argentino

Untech, El Despertar de un Medicamento Argentino

Monday, July 6, 2020

Untech, El Despertar de un Medicamento Argentino

Monday, July 6, 2020

Soñar realidades, realizar sueño: cuando un investigador emprende

Aceleradora Litoral, junto a Universidad Nacional del Litoral, invitan a esta presentación, dirigida a investigadores y emprendedores de base científico tecnológica de todo el mundo.

La charla se realizará a través de plataforma virtual el martes 7 de julio a las 17:30hs y  estará a cargo del Dr. Alberto Ramos,  Co-fundador la empresa de base tecnológica Untech, encargada de desarrollar y llevar al mercado internacional un medicamento capaz de cicatrizar heridas crónicas.

El Dr. Ramos es Químico (UNSa), Bioquímico (UNT), Doctor en bioquímica (UNT-UNLp), postdoctorado en Biotecnología Farmacéutica e Inmunología (UFRGDS) y Especialista en Docencia Universitaria (UNCuyo).  Con sus investigaciones en heridas crónicas ha ganado premios Internacionales durante 4 años consecutivos, publicando diversos trabajos en las revistas de mayor impacto de la especialidad y libros para editoriales de España, Japón y EEUU. Es el autor del libro en Amazon “Facilitando la transferencia de Biotecnología”, en donde propone un método de diseño de investigación que maximiza las probabilidades de transferencia. Por su trabajo, fue galardonado con el premio Ten Outstanding Young Persons por la Junior Chamber International.

En su camino emprendedor junto a UNTECH, la empresa fue galardonada por múltiples premios y concursos otorgados por prestigiosas instituciones como la Universidad Austral, Everis, Massachussets Institute of Technology (MIT) Samsung, Instituto Balseiro y Stanford University y fue elegida como una de las promesas Argentinas por la revista Forbes y en Technology Korea summit (Corea del Sur) como la mejor Startup Argentina.

A lo largo de la charla, el Dr. Ramos compartirá sus experiencias en el ecosistema emprendedor de base científica tecnológica, abriendo un espacio de construcción e inspiración para emprendedores e investigadores.

Inscripción gratuita AQUÍ

http://www.aceleradoralitoral.com.ar/untech/

Para consultas: info@aceleradoralitoral.com.ar

El Desafío de Las PyME

El Desafío de Las PyME

El Desafío de Las PyME

Monday, July 6, 2020

El Desafío de Las PyME

Monday, July 6, 2020

Impacto territorial-sectorial del coronavirus y oportunidades en el nuevo escenario

Conferencia Online- MARTES 07 DE JULIO, 15hs.
www.observatoriopyme.org.ar

THE TOP 10 Micro, Small, and Medium Enterprises Trends for 2020

THE TOP 10 Micro, Small, and Medium Enterprises Trends for 2020

THE TOP 10 Micro, Small, and Medium Enterprises Trends for 2020

Monday, July, 6, 2020

THE TOP 10 Micro, Small, and Medium Enterprises Trends for 2020

Monday, July, 6, 2020

Micro-, Small, and Medium-sized Enterprises (MSMEs) Enter a New Decade with Guarded Optimism!

2020 and a dawn of a new decade welcome MSMEs with many exciting opportunities for growth and prosperity, yet it comes with hazards and challenges. Recognized globally for their contributions to innovation and improving economic conditions, MSMEs are the number one job creators across the world.

Last year, ICSB reported that one of the biggest challenges inhibiting the growth of MSMEs was not technology or macro-level issues but with the entrepreneur or small business owner and the power of belief or the lack thereof. Other trends on the 2019’s covered common prevailing topics like the impact that the world’s 1.8 billion youth have on the economy. The population of young people (ages 10 to 24) in the world is at an all-time high.

The other major issue projected in 2019 was that global trade wars will have a major impact on MSMEs. The gloves have come off between the two largest economies in the world, and the imposition of tariffs by each country has plunged the world economy into turmoil.

For 2020, we see major trends continuing yet with three new remarkable changes to the landscape for MSMEs. It is astonishing what a difference a year makes! Here are ICSB’s 2020 Top Ten Trends for MSMEs: Please scroll down to read the Top Ten Trends (Read more…).

Call for Insights: SME Finance Outlook 2030

Call for Insights: SME Finance Outlook 2030

Call for Insights: SME Finance Outlook 2030

Wednesday, July 1, 2020 · Global SME Finance Forum

Call for Insights: SME Finance Outlook 2030

Wednesday, July 1, 2020 · Global SME Finance Forum

To celebrate the new decade, this year’s Global SME Finance Forum will look much farther forward, to imagine where we might be in SME financing a decade from now. We will test the limits of our prescience by predicting how products, delivery channels, institutions and enabling environments might look 10 years from now.

Following our practice of leveraging as much knowledge sharing as we can from our membership and our wider public audience, we will launch a public “Call for Insights” on what SME finance will look like in 2030. Best articles will be shared in a special report to be issued at the conference, and the authors will be considered for speaking roles at the event.

Submission Guidelines for Participants

What will SME financing look like in 2030? What will profoundly influence its ecosystem? Will unexpected players dominate the market? How different will SME financing be in 10 years from now?

With the start of this new decade, the SME Finance Forum seeks thought-provoking, creative and impactful insights to help shape the debate on the future of finance for SMEs. We are encouraging participants to share their unique visions in 500-1,000-word essays.

Authors of all submissions that are selected by our panel of judges will receive a complimentary ticket (worth US$2,000) to the Global SME Finance Forum 2020 in Bangkok, October 26-28 – where we will launch a new publication containing the insights. The most outstanding authors will be invited to address this meeting, and to share their perspectives with senior leaders from the World Bank and IFC (either during the event or at the Annual/Spring Meetings of the IMF and the World Bank Group). 

Possible questions to consider (although any and all visions are encouraged):

  • Who will be the main providers of SME financing in 2030?  How will that compare to the dominant institutions of today? 
  • Will FinTech companies and traditional financial institutions be permanent competitors or durable partners in providing solutions for SMEs?
  • How will AI, Machine Learning and robots change the role of people in SME financing?
  • How will the role of governments and policy evolve to deal with innovations to come?
  • What will the SME finance gap look like in 2030, and why?

Submission requirements:

 To learn more about our selection criteria, please review our Frequently Asked Questions.

UN marks 75-year milestone anniversary of founding Charter

UN marks 75-year milestone anniversary of founding Charter

UN marks 75th milestone anniversary of founding Charter

Wednesday, July 1, 2020 · UN Affairs

UN marks 75th milestone anniversary of founding Charter

Wednesday, July 1, 2020 · UN Affairs

Adopted by Member States as the Second World War was coming to a close, the UN chief noted that the world today was marking the milestone anniversary “as global pressures are spiraling up”.  

The Charter was signed in San Francisco on 26 June 1945 and came into force on 24 October 1945. 

Conceived above all as a means to save future generations from the scourge of war, the Charter calls for the Organization to maintain international peace and security; promote social progress and better standards of life; strengthen international law; and promote human rights.

“The Charter’s vision stands the test of time and its values will continue to carry us forward”, said the UN chief. “It remains our touchstone for a world mired in a pandemic, torn by discrimination, endangered by climate change and scarred by poverty, inequality and war”. 

Standing strong

Against a backdrop of a global reckoning with racism, environmental degradation, increasing cyberattacks, nuclear proliferation, corruption and pushback on basic human rights, he noted that back in 1945, the delegates in San Francisco – who had also lived through a global pandemic, depression and war – “seized their opportunity to plant the seeds of something better and new”. 

“Today, we must do the same”, said the top UN official. “To achieve that watershed moment, we need to reimagine multilateralism, give it teeth to function as the founders intended, and ensure that effective global governance is a reality when it is needed”. 

And inclusive multilateralism today also requires the “essential voices” of civil society, cities, the private sector and young people to shape the world we want.

Drawing inspiration 

Yet there is also “much to encourage us and drive us onward”, he said, such as the general level of solidarity shown in responding to the pandemic, the embracing of the Sustainable Development Goals (SDGs), and the recent activism of racial justice protesters and others, towards advancing equality, climate action, and a green economy.

Paying tribute to the service and sacrifice of peacekeepers, staff and others who gave their lives advancing UN values, Mr. Guterres said: “I am inspired by so much that has been built and achieved across 75 years”.

“Now is the time to persevere, press ahead, pursue our goals, show responsibility for our world, and take care of each other…It is up to us to rise to the test of this pivotal moment for our future”.

Imagining a better world

The penholders of the Charter “dared to imagine a better world defined by peace and equality”, General Assembly President Tijjani Muhammad-Bande told the commemoration.

“As we work towards the future we want, and the UN we need, we must be results-focused”, he asserted.  “Now more than ever, we need a strong UN development system and effective collaboration between the UN and international financial institutions”.  

In pursuit of inclusive multilateralism, the Assembly president maintained that we must continue to create space for civil society and “ensure the full participation of voices that have gone unheard for too long”, such as women, youth, indigenous persons and people with disabilities. 

“This is a moment of reckoning for our shared planet and shared future. This is a time for action, ambition and partnership”, he spelled out. 

In closing Mr. Muhammad-Bande pointed out that three-quarters of a century ago, sceptics doubted the resolve of UN Members States, saying, “cynicism did not prevail then, nor will it now. 

“‘We the peoples’ remain nations, united guided by the principles of our Charter”, he upheld. 

Stay engaged, unified

Mona Juul, President of the UN Economic and Social Council (ECOSOC) pledged “to continue engaging… to ensure that ECOSOC remains as relevant today and in the future, as it was when first envisioned in the Charter 75 years ago”. 

“Today” she said, “the world is shifting beneath our feet”, calling the COVID-19 pandemic “a wake-up call for us to strengthen international collaboration”.

“75 years ago today, the UN Charter was signed in San Francisco”, the chief for UN Political and Peacebuilding Affairs Rosemary DiCarlo said. “A declaration of unity of purpose after the ravages of the Second World War, it set out our mission: ‘to save succeeding generations from the scourge of war’ [and] guides us to this day”.

Financial inclusion for MSMEs and women’s economic empowerment

Financial inclusion for MSMEs and women’s economic empowerment

Financial inclusion for MSMEs and women’s economic empowerment

Monday, June, 29, 2020

Financial inclusion for MSMEs and women’s economic empowerment

Monday, June, 29, 2020

Great opportunities in access to finance for MSMEs and the empowerment of women entrepreneurs

The importance of micro-, small, and medium-sized enterprises (MSMEs) in national economies is well known, as well as is their global impact, since, by number, they dominate the world business stage. But notwithstanding the wide acknowledgment of MSMEs’importance to national economies, they still face difficulties that need to be addressed, such as informality, low productivity, and limited access to finance. When Argentina, with the support of the International Council for Small Business (ICSB), decided in 2017 to present a resolution to the General Assembly of the United Nations establishing June 27 as MSMEs Day, the idea behind it was to showcase the importance of these enterprises in the achievement of the 2030 Agenda for Sustainable Development and raise awareness about the difficulties these enterprises face.

In this context, it is important to highlight two main aspects that are frequently interlinked. The first one is access to finance and financial inclusion. The second one is the empowerment of women (Read more…).