“The Next Generation of Global Entrepreneurs” Inspires Young Professionals in Foreign Policy

Young Professionals in Foreign Policy (YPFP) and Orrick, Herrington & Sutcliffe LLP hosted four groundbreaking panelists for “The Next Generation of Global Entrepreneurs” the evening of April 29, following the conclusion of the Presidential Summit on Entrepreneurship. Panelists included Analisa Balares, CEO & Founder of Womensphere; Ellen Gustafson, Executive VP & Co-Founder of FEED Projects; Robert Lalka, Global Partnerships Liaison at the State Department; and David S. Rose, CEO of Angelsoft.

Stating that it was the “most prestigious” panel that he had participated in, moderator Benjamin Stone, an entrepreneur in his own right, led the discussion. Ranging from the complications of social entrepreneurship to the realities of cause-marketed products, the discussion provided varied insights to more than 70 YPFP members and delegates from the Presidential Summit.

The panelists agreed on three bases for successful entrepreneurship: risk, a unique offering and the ability to sell an idea. Lalka stated that the unifying aspect of jobs, opportunities, and healthy families encourage entrepreneurs worldwide, but successful ventures in Muslim-majority countries lag behind other countries. Rose confirmed that since a culture of entrepreneurship is not present, investment from successful entrepreneurs and locally-based angel groups is limited.

According to Balares, entrepreneurs are natural problem-solvers.  Rose called them “creative destroyers by nature.” Gustafson argued that entrepreneurship is reaching a new age of awareness. As sustainability earns value with consumers, entrepreneurs are building socially responsible ventures that are “destroying the destroying mechanisms of business.” Gustafson also declared the need for better certification systems for production, encouraging an enterprising audience member to create one.

As the sole government representative, Lalka exemplified the “intrapreneur,” an individual working as an agent of change within a resistant bureaucracy. Earning praise for his dedication, Rose used this service as the first example of true social entrepreneurship. Second was a self-sustaining venture that does not turn a profit, including the first microlenders. Rose also applauded Gustafson for her development of a for-profit venture that holds fast to a social commitment, expressing his disregard for social entrepreneurs with a “piece of the pie” approach as an investor.

Lalka stated that as 45% of the world’s people are under the age of 30, and the vast majority of capital in developing countries has shifted from government aid to private investments, US foreign policy must find a sustainable strategy for handling demographics and the flow of capital. Under Secretary Clinton, the State Department is now focused on building strong partnerships, particularly in Muslim-majority countries.

The panelists concluded their remarks with advice to YPFP members. Gustafson said to find the issue which they are most passionate about, as she did by thinking about what news articles drew her interest. Balares encouraged YPFP members to bring an entrepreneurial mindset to their work in foreign policy, and to view each problem as an opportunity seeking their own creative insight. Rose instructed members to consider the context in which they are working, which he believes is a post-American world. Lalka noted that capitalism is a double-edged sword. Moving forward, the US must enhance its strengths in the business world, including the community college system, angel investors and the prominence of small business to wield that sword properly.