Entrepreneurship at Home & Abroad

“In reaffirming the greatness of our nation, we understand that greatness is never a given. It must be earned. Our journey has never been one of short-cuts or settling for less. It has not been the path for the faint-hearted - for those who prefer leisure over work, or seek only the pleasures of riches and fame. Rather, it has been the risk-takers, the doers, the makers of things - some celebrated but more often men and women obscure in their labor, who have carried us up the long, rugged path towards prosperity and freedom.”

--President Barack Obama, Inauguration Speech (January 20, 2009)

Judy Estrin, CEO of Jlabs and self-professed serial entrepreneur, used this quote from President Obama’s inaugural speech to start a discussion on common qualities of entrepreneurs, emphasized the words “risk-takers” and “doers.” At two recent conferences, the Women in Leadership Conference and the Asia Business Conference, I heard entrepreneurs discuss the traits that they believe contributed to their success. I heard many common qualities, including:



Looking at this list, I wonder about the implications of our challenged U.S. educational system on entrepreneurship in this country. If the above are the qualities that contribute to entrepreneurial success, are we building the foundation for future generations of entrepreneurs and innovators in our country? I’ve read how certain school districts are modifying curriculums to better prepare students for standardized achievement tests, by so called “teaching for the test.” Won’t this type of education suppress creativity? I have also read that grade inflation has become rampant in some school districts, which certainly doesn’t build tenacity or commitment in students. Structured curriculums emphasizing math and science at the expense of art, music, history, or literature stifle innovation and creativity as well. Will future generations of Americans exhibit these qualities that today’s entrepreneurs have found key to their success?

I also wonder about the implications for entrepreneurship in other countries. At the Asia Business Conference, speaker Jimmy Hexter touted the importance of China to the international business community, citing Chinese startups that now compete with multi-national companies. However, I would be curious to know what implications the Chinese political system and culture have on entrepreneurship there. For example, I recently read a New York Times article about Chinese citizens subverting the Chinese Government’s rampant censorship by using double-entendres to convey political messages that escape censorship algorithms. How well can entrepreneurs truly thrive in an environment that lacks transparency and true knowledge sharing? In addition, during the entrepreneurship panel in the Asia Business Conference, panelists noted that failure is not acceptable in many Asian cultures. If qualities that American entrepreneurs site as contributing to their success are difficult to find in China, how will Chinese entrepreneurs innovate the way Mr. Hexter proposes?

I feel fortunate to have had the opportunity to hear the thoughts of so many seasoned entrepreneurs at these two events! I don’t have much stake in China, but I do hope that the U.S. continues to provide children with educational experiences that will inspire and grow future generations of entrepreneurs. I believe that the quality of the entrepreneurial environment will be critical to our future success as a nation.

-- Lauren


Here are some links to interesting articles I read recently in the New York Times:

Chinese subversive responses to censorship
President Obama’s Educational Policy
David Brooks Op-Ed Educational Policy

Here are the entrepreneurs I heard speak at these two events:
Women in Leadership Conference: Judy Estrin- CEO Jlabs; Wendye Robbins- President & CEO Limerick BioPharma; Danae Ringelmann- Chief of Finance & Customer Development, IndiGoGo; Ann McCormick- CEO, Learning Friends
Asia Business Conference: Liam Casey, CEO PCH International; Saeed Amidi- CEO Plug and Play Tech Center; Umair Khan- CEO Secret Builders; Yangbin Wang- CEO Vobile; Yumiko Yamaguchi0- US Office Manager, Medical Create