hello everyone thank you for all being here and for the incredibly warm welcome
on behalf of the United States and the a hundred and fifty other countries
represented in this room thank you for hosting the Global Entrepreneurship
summit here in Hyderabad a city that is quickly emerging as the
innovation hub of India and Thank You Prime Minister Modi for joining us here
today and that for all that you are doing to build India as a thriving
economy a beacon of democracy and a symbol of hope to the world what you are
achieving here is truly extraordinary from your childhood selling tea to your
election as India's Prime Minister you've proven the transformational
change is also though
and now you're bringing that palace to hundreds of millions of people across
your country thank you to the people of India I want to congratulate you as you
celebrate the 70th anniversary of your independence you are celebrating it as
the world's largest democracies and one of the fastest growing economies on
earth through your own enterprise entrepreneurship and hard work the
people of India have lifted more than 130 million citizens out of poverty a
remarkable improvement and one I know will only continue to grow under the
leadership of Prime Minister Modi all of you are helping India's middle class
reach its goal of nearly 500 million people by 2030 you have opened new
universities across the country your doctors and scientists are discovering
medical cures and life-saving technology your engineers in your architects who've
built modern wonders of grace your skies an Indian spacecraft have traveled to
the moon and to Mars the people of India inspire us all
this is the first time India has hosted the Global Entrepreneurship summit it is
a symbol of the strength and friendship between our two people and the growing
economic and security partnership between our two nations as President
Trump said earlier this year India has a true friend in the white
house
I would like to thank the State Department for co-hosting this
incredible gathering I would also like to thank governor narasimham and all
elected Indian officials who are here with us tonight for welcoming us to your
beautiful country
it's incredible to be in this ancient city brimming with transformative
technology now your tech centers may may even outshine your world-famous biryani
lady CEOs like Microsoft Satya Nadella went to school right here in Hyderabad
just a few kilometers away key hubs brand new facility is set to open next
year and will become the largest incubator in Asia in this city of pearls
the greatest treasure is you the dreamers the innovators entrepreneurs
and leaders who never give up never abandon your aspirations and always
strive for a better tomorrow today we come together to celebrate what is
happening here in India what is happening in the United States and all
over the world entrepreneurs are revolutionizing our
economies and improving our societies you are rewriting the rules you have the
inspiration and drive to serve our communities through the projects you
start and the businesses you build you have the grit the perseverance and the
will looks to succeed each of you started with an idea you've worked long
days and nights to code the next robot create the next app find the next cure
and discover the next breakthrough to improve the lives of millions of people
some mayor tried to convince you that the risks are too great
the rewards too small but you are here today because you are not afraid to fail
you want to own your future so I want to congratulate you on that you have
already accomplished
and I especially want to congratulate the women entrepreneurs here with us
today
Thank You this year's summit is focused on a theme that is key to our future
women first prosperity for all I'm proud to say that for the first time ever
women make up the majority of the 1500 entrepreneurs selected to attend this
summit I see all of you out there only when women are empowered to thrive
will our families buy economies and our societies reach their fullest potential
as a former entrepreneur employer and executive in a male-dominated industry
I've 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 after my father's election I saw an opportunity to leave
my businesses for the privilege of serving our country and empowering all
Americans to succeed our administration is advancing policies that enable women
to pursue their careers and care for their families policies that improve
workforce development and skills training and policies that lift
government barriers and fuel entrepreneurship so that Americans can
turn their dreams into their incredible legacies in the last decade women have
made remarkable strides in starting new businesses globally between 2014 and
2016 entrepreneurship activity amongst women
has increased by 10 percent in the United States within the last decade the
number of women-owned firms has grown by 45 percent even more promising minority
women have started nearly 8 and 10 new woman owned businesses
today more than 11 million women in the United States owned businesses they
employ nearly nine million workers and generate over a trillion dollars in
revenue
many women become entrepreneurs and job creators out of necessity some weren't
given the flexibility they needed at work to care for their families others
lacked professional sponsors or weren't given a fair shot at a promotion instead
women like the many here today are charting their own courses and achieving
incredible feats fueling the growth of women led businesses isn't simply good
for society it's good for our economy one study estimates that closing the
gender entrepreneurship gap worldwide could grow our global GDP by as much as
two percent the woman in this room can lead the way in closing that gap and
ushering in a new era of greater prosperity
yet despite the soaring rate of female entrepreneurs women still face steep
obstacles to starting owning and growing their businesses we must ensure women
entrepreneurs have access to capital access to networks and mentors and
access to equitable laws in developing countries 70% of women owned small and
medium-sized businesses are denied access to capital the result has been a
nearly 300 billion dollar annual credit deficit for women entrepreneurs in the
developing world in the United States a Harvard Business Review report found
that investors asked men questions about their potential for gains whereas they
asked women questions about their potential for loss this could in part
explain why women entrepreneurs receive less than 3% of venture capital funding
in 2016 we are working hard to reverse this trend
the US Small Business Administration for example increased lending to women by
over 500 million dollars this year alone
when it comes to networks and mentorship roughly half of women in the United
States say they have difficulty finding a mentor yet mentorship is critical to
success as each of you knows entrepreneurs need professional guidance
to help them start and grow their business in the United States we are
fostering mentorship through programs such as score a nationwide initiative
were successful men and women coach those who want to become their own CEOs
and when it comes to equitable laws while many developed in developing
countries has made tremendous strides there's still much work to be done in
some countries women are not allowed to own property travel freely or work
without the consent of their husbands in even more countries the cultural and
family pressure is so great that women do not feel the freedom to work outside
of the home our administration is striving to promote greater opportunity
for women around the world both through our domestic reforms and our
international initiatives this summer at the g20 conference the United States was
a founding member of a bold new initiative with the World Bank the women
entrepreneur finance initiative also known as we by
this facility provides access to capital networks and mentorship for women in
developing countries we Phi is the first facility to support women entrepreneurs
of this scale and we anticipate it will be able to leverage in excess of 1
billion dollars in public and private financing this facility also seeks to
address the legal and regulatory barriers that limit opportunities for
women entrepreneurs in the last decade USAID has promoted women's
entrepreneurship through a number of programs including providing
microfinance loans to women in Afghanistan and bringing internet access
to women in Nigeria and Kenya USAID administrator mark green is here with us
today where are you mark thank you mark I want
to thank Mark and the entire US delegation for their tireless work to
improve the lives of millions both domestically and abroad
further as each and every one of you can attest this summit is yet another
powerful example of the u.s. initiative that connects entrepreneurs around the
world with investors who believe in your mission and will champion your success I
want to thank the US business leaders who have traveled all the way to
Hyderabad for this inspiring event I also want to congratulate the more than
350 American entrepreneurs who are selected to be with us here today who
represents America's greatest talent
I think I found your section thank you at home our administration is committed
to empowering women entrepreneurs through domestic reforms in the past 11
months we have expanded apprenticeship programs and prioritized STEM education
to ensure that women and men has their opportunities to master the skills that
drive progress in the 21st century we have dramatically reduced job crushing
regulations which disproportionately hurt entrepreneurs and small business
owners and we are laser focused on passing long overdue tax cuts this will
provide much-needed relief to working families and to businesses of all sizes
si this year for the first time ever the President's budget included a proposal
to establish a nationwide program for paid family leave we are committed to
supporting women and men who work both inside and outside of the home
when women work it creates a unique multiplier effect women are more likely
than men to hire other women to give them access to capital mentorship and
networks women are also more likely to reinvest their income back into their
families and their communities here in India I want to applaud Prime Minister
Modi for his firm belief that the progress of humanity is incomplete
without the empowerment of women
just consider if India closes the labor force gender gap by half your economy
could grow by over a hundred and fifty billion dollars in the next three years
as we kick off this three-day summit I encourage everyone here to come together
learn from each other and find new ways to lift barriers in our society so that
women are free to innovate empowered to succeed and able to leave our children a
brighter future as we strive for change we must never forget that the best hope
for our future is far greater than any single government policy the source of
our success is found in the spirit the drive and the talents of our people here
with us today from San Francisco is Dara das
Dara spent over a decade working in underserved communities around the world
she witnessed firsthand that many times people need very simple items a bucket
for carrying water a splint to treat an injury apart to fix a generator Dara
co-founded field-ready to provide life-saving supplies through 3d printing
today Dara's company responds disasters all over the world and delivers
humanitarian aid the cutting edge technology through her innovative
solutions Dara's saving lives and bringing hope to
thousands of communities thank you Dad please stand up there
brushless kimmieb or Takara joins us from Bangalore India when her son began
having seizures at a young age she decided to create her own solution to
better monitor his help stand up she invented a smart globe that
predicts manages and detects different diseases and disorders using artificial
intelligence now her company Tara blue aims to make
specialty health care accessible and even the most remote places in India
Rajesh Lakshmi your courage and determination is truly remarkable
graduations
also here with us today is rayon caramel OVA from Azerbaijan grandly send up you
all might believe this but rayon is just 15 years old but that has not stopped
her from founding a company that harvests energy from rainwater rayon has
a powerful motto light up one house at a time gram each
home you light up is illuminating the world we are inspired by your brilliance
in your hard work thank you
these women represent the vision the ambition the grit of every entrepreneur
here today you are saving lives creating jobs and bringing hope to our
communities you're transforming our societies one business and one customer
at a time you prove to the world that we have the power to rise above the
challenges of our day and to pioneer new pathways forward and to leave our mark
on this moment in history just think about how much better the world would be
if all of us men and women are empowered to dream big aim high and work together
towards a more just and prosperous future a future where mothers and
fathers can work hard to build a better life for their family where boys and
girls can go to school discover their talents and pursue their ambitions and
where people of all nations can live and work together in dignity and in peace
this is the future we can will and must build together and this is the promise
of the visionaries gathered in this room today thank you
Thank You MERS Ivanka Trump
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