Colombia, Chile lead world in launching new businesses

Global Business

Colombia and Chile are leading the world in entrepreneurship. According to a report by the World Economic Forum, the two developing countries scored higher than the United States when it came to the number of people working to launch new businesses. CCTV’s Michelle Begue reported this story from Colombia.

Colombia, Chile lead world in launching new businesses

Colombia, Chile lead world in launching new businesses

Colombia and Chile are leading the world in entrepreneurship. According to a report by the World Economic Forum, the two developing countries scored higher than the United States when it came to the number of people working to launch new businesses. CCTV's Michelle Begue reported this story from Colombia.
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In 2013, Fabio Ramon dreamed up a business idea and his 26-year-old son Simon quickly jumped to the task of making it a reality.

“In Latin America, 15 percent of waste is re-used, and 85 percent is discarded. But the reality is more than 80 percent of that discarded trash can be re-used. That is where there is a business opportunity,” Ramon said.

The Ramon family and a partner created Ecociclus, an online platform for waste disposal, where companies can put up their trash for sale, and others can buy it.

“Because in developing countries, not everything is established and assimilated. So, I believe it is much easier here to bring about change. Ecociclus is trying to to change the dynamics and cycles of company waste,” Ramon said.

Seeing new business opportunities and acting on them is what Colombians are doing best according to a study that compares startup activities in 44 countries.

The study, conducted by the World Economic Forum and the Global Entrepreneurship Monitor, said Colombia scored the highest in early-stage entrepreneurial activity with entrepreneurs expected to create 20 or more jobs in the coming years.

Chile over the last decade launched a suite of public-private initiatives that helped improve entrepreneurship, according to the World Economic Forum website. One of the best known is Start-Up Chile, that aims to create one of the biggest start-up communities in teh world by giving selected entrepreneurs a work visa and $40,000 seed capital from the government.


Victor Salama of NFTE discusses youth entrepreneurship

Much of the drive for global entrepreneurship lies in the world’s young people. CCTV American’s Michelle Makori interviewed CCTV America interviewed Victor Salama, about how to encourage startups among youth. Salama is vice president of business and international partnerships at the Network for Teaching Entrepreneurship, an organization that creates programs that help young people from low-income communities to stay in school, recognize business opportunities, plan for successful futures.

Victor Salama of NFTE discusses youth entrepreneurship

Victor Salama of NFTE discusses youth entrepreneurship

Much of the drive for global entrepreneurship lies in the world's young people. CCTV American's Michelle Makori interviewed CCTV America interviewed Victor Salama, about how to encourage startups among youth. Salama is vice president of business and international partnerships at the Network for Teaching Entrepreneurship, an organization that creates programs that help young people from low-income communities to stay in school, recognize business opportunities, plan for successful futures.
Download Video