PRNewswire/ AllWorld Network, the creator of the Saudi 100 and South Africa 100 lists of fast growth companies, kicked off the convening of its first summit toaccelerating growth entrepreneurship in the Middle East and Africa. Co-hosted by the United NationsOffice for Partnerships and the Business Council for International Understanding, the event bringsbusiness, government and media leaders together with twenty-five fast growth entrepreneurs, winnersof the Saudi Fast Growth 100 and the US Inner City 100, and applicants to the South Africa FastGrowth 100 collectively, these 25 entrepreneurs have created 12,000 jobs.
AllWorld seeks toidentify all of the emerging world's top growth entrepreneurs in the next three years and toaccelerate their growth by giving them the visibility and networking opportunities that allhigh-potential companies require to grow to full scale.
AllWorld Chairman Professor MichaelPorter of the Harvard Business School commented "The Saudi Fast Growth 100 and South Africa FastGrowth 100 companies, led by dynamic men and women, represent the leading edge of a new approach tocompetitiveness." Companies that make a 100 ranking have to be private businesses growing at least40% a year, for five or more years.
The entrepreneurs are spending four days in the US to shareideas, meet with leaders to advance growth entrepreneurship as a global priority, sharpen theirgrowth strategies with Porter and other world renowned professors at Harvard, and participate in anintensive 24-hour leadership session designed for them by the Pinnacle Training Institute. Joiningthe entrepreneurs are the Founding Partners of the Saudi 100, the Saudi Arabian General InvestmentAuthority, the National Commercial Bank (the largest bank in the Middle East), AlWatan newspaper,Siraj Capital and Sukoon International.
"We are at the twilight of one economic era and the dawnof another," said Anne Habiby, co-founder of AllWorld Network. "The old model of economicdevelopment has reached its limit and micro-enterprise does not have the scale to power countriesforward. The next model of economic development is growth entrepreneurship, which can create a newwave of prosperity."
"As these companies grow, the upside is immeasurable," said Deirdre M.Coyle, Jr., co-founder of AllWorld Network. "They create a much needed tax base, they hire andadvance employees at a rapid rate, they influence their governments to improve the businessenvironment and transparency, and they create hope for the future. They are both economic growthdrivers and agents of positive change in regions that can benefit the most from both."
"For afast-growth CEO, selection to the AllWorld lists brings global visibility," said Peter Tichansky,President of the Business Council for International Understanding. "They deserve it. Theseentrepreneurs are building the next great companies. We want to support them."
"A robust privatesector that delivers economic growth, employment and wealth creation is essential for reducingglobal poverty and making progress toward achieving the Millennium Development Goals," said AmirDossal, Executive Director of the United Nations Office for Partnerships. "The United NationsOffice for Partnerships is pleased to be part of this leadership initiative to engage some ofworld's most dynamic emerging entrepreneurs to discuss how to unlock the growth potential of theMiddle East and Africa."
Joining AllWorld Network in this effort are global partners: the UnitedNations Office for Partnerships, The World Bank Institute, Endeavor SA, the Harvard UniversityCorporate Social Responsibility Initiative, the Business Council for International Understanding,the Center for Strategic Competitiveness at IIT-Stuart School of Business, and the leadershiptraining institute Pinnacle, Ltd.