Accenture-G20 Young Entrepreneurs’ Alliance (YEA) study reveals that 10 million new jobs can be created by fostering technology-enabled ecosystems (entrepreneurs, large companies and other bridgemakers) and business-friendly government policies.
The study is based on an online survey of 1,080 young entrepreneurs in all G20 countries as well as inputs from workshops, online forums and expert interviews. It shows that entrepreneurs consider themselves a key driver of the global economy. Almost 62 percent of the surveyed entrepreneurs expect to post revenue growth of more than 5 percent, and 85 percent say they are critical to creating jobs for young people in their country.
The study confirms that young entrepreneurs have been the frontrunners in innovation and digital technology adoption to achieve strong growth and job creation. Ninety-one percent of the surveyed entrepreneurs who say innovation is important to them plan to create jobs in 2014. For example, social, mobility, analytics and cloud (SMAC) technologies enable entrepreneurs to build new business models, participate in the sharing economy and create solutions that answer critical needs, such as remote health monitoring, at an affordable cost.
This report, developed for the G20 YEA Summit 2014, focuses on:
Three factors—open innovation, globalization, and access to skills and talent—that play a critical role in helping entrepreneurs achieve the scale required to create jobs and grow
How large companies and other enablers called bridgemakers can support start-ups in their growth journey
Policy actions that can create a more nurturing environment for entrepreneurs and help them achieve their business goals.