While there are a growing number of funding opportunities and resources for entrepreneurs in the Mediterranean region, there are still significant constraints to raising capital, including access to larger funding, diversification of funding sources, skills gaps and communication with investors.
This meeting adds to the broader conversation about the barriers and pathways to scale that entrepreneurs experience when trying to grow their businesses in the Mediterranean. It is a unique opportunity, connecting startups with investors and successful companies, both in the Mediterranean region and globally. The meeting provides an opportunity for Mediterranean startups and entrepreneurs to: showcase themselves to investors and the press, access experienced entrepreneurs, investors and experts, unlock funding and to discover key ideas.
With a growing ecosystem, the Mediterranean region is poised to become a hub for international outsourcing companies looking for new talent, multilingual content and innovation. The final session of the event explores the role of development finance institutions and the private sector in supporting the region's digital ecosystem to become the Silicon Beaches of the Mediterranean. These developments have produced impressive numbers in the region's start-up financing landscape.
In the economic boom expected in the post-pandemic period, Mediterranean countries must work hard to ensure that the right laws and regulations are in place to attract entrepreneurs and investors. They must also work towards creating the concept of a "Mediterranean Start-up Zone" where countries in the region not only support entrepreneurship, but think and act with an entrepreneurial spirit.
The venture capital landscape is constantly evolving and the technology space is more difficult to navigate than ever. While early-stage investment is always a risky proposition, the prospect of finding and backing a tech start-up with the potential to achieve massive valuations and even change the world as we know it is huge. The pandemic has wreaked havoc on the global economy and further exposed the digital divide. The Mediterranean region will lead economic growth as the digital ecosystem is built.
COVID-19 has brought hundreds of thousands of businesses to the brink. Adding to the challenge is that the economic impact of COVID-19 disproportionately affects those least able to withstand it. Digital technology has helped some to avoid the worst and has even enabled many to succeed. However, many challenges remain. The region desperately needs to restore jobs and create new jobs fit for the future.
Eager to attend the largest gathering of innovations and innovators in the Mediterranean? 💡— ASCAME 🌍 (@ascameorg) October 18, 2022
That's the Mediterranean #Digital & Innovation Forum in #MedaWeek22! Discover opportunities to boost digitally enabled entrepreneurship.
Programme & speakers👉https://t.co/gtqMruS08X pic.twitter.com/lZ4IbvnpSO
Education is a powerful force that accelerates economic growth, improves inequality in income distribution, promotes social mobility and reduces poverty, all of which must be on the global policy agenda. The education systems of many Mediterranean countries do not produce graduates with the necessary skills. This means that we have a generation of graduates who are not properly educated and trained to contribute productively to the economy. The region's most urgent economic priority is to create sufficiently productive employment opportunities for young people. Young people are ready to move society and the economy forward.
However, without quality education and training opportunities, they will not be able to join the 21st century workforce. The most important key to innovation is education. In addition to investing in physical infrastructure, governments need to balance spending and invest in intangible assets such as education and research and development. Universities need to bridge the gap between the classroom and business with practical programmes that develop entrepreneurial skills.
Investments in human capital must be developed and strengthened for the benefit of all. A company can only exist and remain innovative if it takes its role in education seriously. Mediterranean countries have long focused on growing their economies, but now they are also beginning to prioritise education, often with impressive results. In the various dimensions of this new economic and social leadership, now is the time to rethink higher education, raise awareness and develop potential future students.