GES 2017- THE IMPORTANCE OF MENTORING IN ENTREPRENEURSHIP
The eighth annual Global Entrepreneurship Summit(GES) was hosted for the first time by India in Hyderabad on 28-30 November, 2017. The summit was conducted by India in partnership with USA and the US senior Presidential Advisor, Ivanka Trump was present at the summit as the US delegation. The summit was very unique because it had the theme of ‘Women First, Prosperity for All’ and women represented 52.5 per cent of the entrepreneurs, investors and ecosystem supporters at the GES 2017.
In their speeches, Ivanka Trump and PM Modi primarily focused on women entrepreneurship among other issues. This summit was dedicated to the women entrepreneurs who have brought development and innovation to their countries and the world at large. Ms Trump, a successful entrepreneur herself, talked about the challenges a woman faces in trying to build a career. She rightly pointed out that women have to compete and work harder than men to succeed at work, all while still being the backbone of her family and catering to it’s needs.
“As a former entrepreneur, employer, and executive in a male-dominated industry, I have seen firsthand that all too often, women must do more than their male counterparts to prove themselves at work, while also disproportionately caring for their families at home”, she said.
Mentioning the huge increase in women entrepreneurship in USA, she said that it’s still not enough. She mentioned that women don’t have access to the right resources and guidance required to become entrepreneurs- “When it comes to networks and mentorship, roughly half of women in the United States say they have difficulty finding a mentor” she said. She mentioned how important it is for entrepreneurs to get the right guidance and mentoring saying “Yet, mentorship is critical to success. Entrepreneurs need professional guidance to help them start and grow their businesses”.
Furthering her point, she said that the US government is working on providing mentoring for men and women equally through a new program. “In the United States, we are fostering mentorship through programs such as SCORE – a nationwide initiative where successful men and women coach those who want to become their own CEOs” , she told the crowd.
She also announced a recent initiative by USA, a program to provide resources to the women entrepreneurs of the developing countries including capital and mentoring saying “This summer, at the G20 conference, the United States was a founding member of a bold, new initiative with the World Bank – the Women Entrepreneurs Finance Initiative, or WeFi. This facility provides access to capital, networks, and mentorship for women in developing countries.”
The importance given by Ms Trump to the issue of mentoring in women entrepreneurship is something that is often overlooked. Entrepreneurs needs guidance to face the challenges that are thrown their way and for women it is of the utmost significance since they have to face more complicated challenges in the first place which is very difficult to handle without professional guidance.
We, at Mentoring N More, realise this need for women to be empowered through entrepreneurship and that they need the right guidance to make this powerful journey. Through our women mentoring and entrepreneurship mentoring programs, we guide men and women to bring out their full potential and use their resources to build their own firms and be independent while bringing development to the country and society. As said by PM Modi in his speech at the GRE, 2017, “We believe women empowerment is vital to our development”.