World Bank Group Convenes Over 560 International Entrepreneurs to Spur Global Job Creation
Press release
30 May, 2011
At infoDev’s 4th Global Forum on Innovation and Technology Entrepreneurship, the World Bank Group is bringing together entrepreneurs, business incubator managers and government leaders from over 80 countries to learn from each other and help promote an enabling environment for innovation and entrepreneurship in developing countries. Since 2004, infoDev’s network of 410 business incubators in 107 countries has already helped over 25,000 small and medium enterprises create 270,000 jobs.
The focus of the Global Forum is on mobile applications, agribusiness and climate technology, with specially-tailored training programs for managers of business incubators and mobile application labs (mLabs). With funding from the Government of Finland, and technical assistance from Nokia, infoDev has established five new regional mLabs in Armenia, Kenya, Pakistan, South Africa and Vietnam that will train around 1,000 application developers and generate up to 50 new mobile applications over the next three years. infoDev will also establish Climate Innovation Centers in several countries, starting with Kenya, to stimulate the growth of at least 50 climate technology start-ups and SMEs.
At the Forum, 50 jury-selected SMEs from 34 countries that are focused on mobile applications, agribusiness and climate technology will compete for “Access to Markets and Finance Awards” to accelerate their growth through mentoring and financing. In addition, experts will discuss the financing gap below $1 million for technology entrepreneurs and brainstorm about initiatives to meet this need.
Stressing infoDev’s mission to promote developing countries’ growth, Janamitra Devan, Vice President for Financial and Private Sector Development at the World Bank Group said that, "SMEs power developing countries' recovery and are often where the most innovative and ground breaking business ideas can start. The Forum's themes of mobile applications, agribusiness and climate technology are important elements in our efforts to promote sustainable development."
H.E. Minister Paavo Väyrynen, (2007-2011) Minister for Foreign Trade and Development of Finland, stated that, “Creation of a system for science, technology, and innovation is fundamentally important with regard to sustainable development and economic growth.”
Valerie D'Costa, infoDev Program Manager added that "infoDev measures its entrepreneurship success not just in knowledge products and projects completed, but in how many jobs we help create. This is a simple but tough indicator that keeps us focused on our mission to help create the innovative and sustainable companies that improve lives."
Additional information:
Marja-Leena Kultanen, tel: + 358 9 1605 6592, marja-leena.kultanen(a)formin.fi
Pertti Ikonen puh. +358401408938, pertti.ikonen(a)formin.fi
Oliver Griffith, puh: +33 6 2410 2924, ogriffith(a)ifc.org
Nadine Ghannam, puh: +1 202 473-3011, nsghannam(a)ifc.org
About the World Bank Group
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit www.worldbank.org(Link to another website.) (Opens New Window), www.miga.org(Link to another website.) (Opens New Window), and www.ifc.org(Link to another website.) (Opens New Window).
About infoDev
infoDev is a technology and innovation-led development finance program of The World Bank Group. It promotes innovative enterprises to foster sustainable inclusive growth, competitiveness, and employment, by supporting the commercialization and adoption of technology, and improving the enabling environments for innovation and entrepreneurship.
About the Ministry for Foreign Affairs of Finland
The Ministry for Foreign Affairs promotes the security and welfare of Finland and the Finns. It strives to attain a secure and fair world. The Ministry and its nearly one hundred diplomatic missions on the world’s continents work on behalf of Finns and the Finnish economy and society. The Ministry for Foreign Affairs serves the leaders of the Republic, the Finnish Parliament and the other Ministries. Development policy is an integral part of Finland’s foreign and security policy. Development policy contributes to the global effort to eradicate poverty through economically, socially and ecologically sustainable development.