The theme of this years Global Entrepreneurship Week (GEW) was connections, but can connections work for you? And if so what is the value it can bring to your start-up?
On the Thursday of GEW a, standing room only, event was held at the House of Lords, it was a joint effort between Young Brits and YBI and was a shining example of the advantages that networking and connections can bring when done in the right way. The event focused on the international dimension, it pulled together young entrepreneurs from the UK who have recently attended major summits that have been run across the globe by the G20 Young Entrepreneurs Alliance and the European Confederation of Young Entrepreneurs as well as over 100 attendees and even the Prime Ministers Enterprise Advisor, Lord Young, asked to attend!
The key question that was asked, was can attendance at international summits for entrepreneurs really add value to your business. Tomasz Letniowski, Founder of Traductio, (attended G20 YEA Summit, Australia 2014), had this to say, “attending these summits offer unparalleled opportunity to network with influential business leaders from all over the world. However it is important to remember that once the connections are made you must look at how you maintain them.” Amy Barker, Founder of Monks & Co, (attended European Confederation Summit Greece 2014), went on to say, “being included in these international events have provided our business with incomparable networking opportunities with some inspirational established businesses. Networking with such advanced entrepreneurs aspire us to push further in our own enterprise and have provided contacts which have helped develop our business strategy’s further.” Nathaniel Peat, Founder of Gennex, (attended G20 YEA Summit, Canada 2010), summed it up well by giving a practical example of the benefit, “these types of summit have assisted the international development of my company directly, meeting like minded people, learning best practices, getting a contact database and establishing business relationships. As a result my company has now expanded into Africa the Caribbean and is operating with partners in Asia, Europe and soon the USA.”
A few other boarder topics came up a number of time during discussions, and one was superbly articulated by Manuel Pinuela, CTO, Drayson Technologies, (attended G20 YEA Summit, Australia 2014), “It was great to hear across the panel that having the ability and the resilience to take risks and tolerate failure is becoming an important and recurring point to improve the entrepreneurship culture around the world.” Perhaps unsurprisingly the theme of mentoring, access to finance, coordinated support and access to market also came up during the sessions and it was extremely positive hear panellists and audience members mentioning the Start Up Loans scheme that is helping startups get access to finance and the IoDs Young Director Forum that is doing a lot of work around mentoring and support.
Finally, at a time of political sensitivity around Europe, it was extremely positive to have at the event a strong presence from the European entrepreneurship scene and to hear their insights/ thoughts on the UK and Europe. This was best summed up by Dimitris Tsigos, who is not only the President of the European Confederation of Young Entrepreneurs but is also founder of a tech start up in Athens, Greece and has also recently launched his business in the UK. Dimitris had this to say, “The UK represents an amazing success story of governmental policies for promoting high growth and innovative entrepreneurship, being a true role model for Europe and the World. I was delighted to be involved in discussing the various ways international cooperation of Young Entrepreneurs can help them and their ventures take off, including the amazing opportunities that are possible for all young entrepreneurs if the UK and Europe and continue to work and grow together.“
It was a real pleasure to be involved in such a successful event, one where there was a tangible buzz in the air, and one where the networking went on until the early hours! But let me finish with the words of another one of the great entrepreneurs who kindly took part. Daniel Rajkumar, Founder of Rebuilding Society, (attended G20 YEA Summit, Russia 2013), “participation by members of the House of Lords along with a strong European contingent shows formidable government support for global entrepreneurship. May the inspiration motivate us all to do more & long may these positive initiatives continue.”
Many thanks to everyone who took part and to all those who attended. If you want to be involved in delegations to future international summits please contact me directly on: email@example.com
– Alex Mitchell, Director, Young Brits