Obama to officially open global entrepreneurship summit on Saturday

The Global Entrepreneurship Summit (GES) kicked off on Friday at the United Nations Offices in Nairobi with Youth and Women day.

The summit convened approximately 150 established youth and women entrepreneurs.

The selected groups of the entrepreneurs had an opportunity to share their success stories, take part in skills trainings, participate in a pitch competition and hear from speakers including celebrated musician Akon, World renowned chef Jose Andres, Fubu owner and founder, Daymond John and Kiva Executive Chair Julie Hanna.

The sessions kicked off with opening remarks from the Under Secretary for Public Diplomacy and Public Affairs, US department of State.

Foreign Affairs and International Affairs Cabinet Secretary, Amina Mohammed said the GES was an opportunity for sharing ideas.

“Today is not only about bottomlines for investors and businesses. It is also about better lives for individuals and societies,” Amb Mohammed said.

She said 30 per cent of Public Procurement in Kenyan Government goes to youth and women businesses.

“The government has support structures for women and the youth. It is not enough yet but the government plans to do more to support start-ups,” Amb Mohammed said.

Among the trainings that were provided during the Youth and Women day included those on; Scaling to compete in domestic, regional and global value chains, branding and marketing, building culture by breaking barriers and encouraging innovative thinking in companies and communities.

The Overseas Private Investment Corporation (OPIC), which is the US Government Development Finance Institution signed a mandate letter to begin financing discussions with local company Mawingu Networks a provider of Solar Powered wireless internet across rural Kenya.

Opic’s president and CEO Elizabeth Littlefield signed the mandate alongside Microsoft Head of Legal and Corporate Affairs for the Middle East and Africa, Anthony Cook.

Managers from the Mawingu Networks were however not at the function after they failed to secure accreditations to attend the Global Entrepreneurship Summit.

Mawingu provides connectivity access to areas that cannot economically access the internet.

The Mawingu and Opic Sh400 million deal will enable infrastructure sourcing as founders await regulator to come up with a law that will guide use of Tv whitespace to generate Internet.

Another highlight of the first day of the sixth GES was the pitch competition where 30 Youth and Women from around the world competed for a chance to win Sh3 million in cash and additional prizes.

Five conference rooms will be used for different conference sessions throughout Saturday and Sunday.

Security was tight at the UNON and only accredited staff, participants, delegates and security officers were allowed into the headquarters.

US President Barack Obama is expected to officially open the summit on Saturday.