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GEM D007 PART1 Stich.Indd Global Entrepreneurship Monitor 2015/16 GLOBAL REPORT Donna Kelley Slavica Singer Mike Herrington ►►► AUTHORSAUTHORSAUTHORS FOUNDINGFOUNDING ANDAND SPONSORINGSPONSORING INSTITUTIONSINSTITUTIONS AUTHORSAUTHORS BabsonBabson College,College, BabsonBabson Park,Park, MA,MA, UnitedUnited StatesStates LeadLead SponsoringSponsoring InstitutionInstitution andand FoundingFounding InstitutionInstitution UniversidadUniversidad deldel Desarrollo,Desarrollo, Santiago,Santiago, ChileChile SponsoringSponsoring InstitutionInstitution UniversitiUniversiti TunTun AbdulAbdul Razak,Razak, MalaysiaMalaysia SponsoringSponsoring InstitutionInstitution TecnológicoTecnológico dede Monterrey,Monterrey, MexicoMexico SponsoringSponsoring InstitutionInstitution LondonLondon BusinessBusiness School,School, London,London, UnitedUnited KingdomKingdom 2015/16 GLOBAL REPORT FoundingFounding InstitutionInstitution DonnaDonna KelleyKelleyKelley,,, Ph.D.Ph.D.Ph.D. BabsonBabson College,College,College, USA, USA,USA, Frederic FredericFrederic C. C.C. DISCLAIMERSDISCLAIMERS HamiltonHamilton ChairChairChair ofofof Free FreeFree Enterprise EnterpriseEnterprise AlthoughAlthough GEMGEM datadata werewere usedused inin thethe preparationpreparation ofof thisthis report,report, theirtheir interpretationinterpretationinterpretation andandand useuseuse areareare thethethe solesolesole responsibilityresponsibilityresponsibility ofofof thethethe authors.authors.authors. TheThe authorsauthors wouldwould likelike toto expressexpress theirtheir gratitudegratitude toto allall participatingparticipatingparticipating GEMGEM 20152015 nationalnational teamsteams forfor theirtheir crucialcrucial rolerole inin conductingconducting thethe GEMGEM surveysurvey inin theirtheir respectiverespective economies.economies. TheThe usualusual disclaimerdisclaimerdisclaimer applies.applies.applies. TheThe authorsauthors wouldwould likelike toto extendextend specialspecial thanksthanks toto JonathanJonathan Carmona,YanaCarmona,Yana LitovskyLitovsky andand AliciaAlicia CodurasCoduras forfor theirtheir contributioncontribution toto thethe datadata collectioncollection proceduresprocedures andand datadata analysis.analysis. SpecialSpecial thanksthanks gogo toto RothkoRothko MarketingMarketing forfor theirtheir helphelp andand patiencepatience withwith thethe typesettingtypesetting ofof thisthisthis report.report.report. ©© 20162016 byby DonnaDonna Kelley,SlavicaKelley,Slavica Singer,Singer, MikeMike HerringtonHerrington andand thethe GlobalGlobal EntrepreneurshipEntrepreneurship ResearchResearch AssociationAssociation (GERA)(GERA) SlavicaSlavica SingerSingerSinger,,, Ph.D.Ph.D.Ph.D. JJJ JJJ StrossmayerStrossmayerStrossmayer University UniversityUniversity in inin Osijek,Osijek, Croatia,Croatia,Croatia, UNESCOUNESCOUNESCO Chair ChairChair in inin EntrepreneurshipEntrepreneurshipEntrepreneurship MikeMike HerringtonHerringtonHerrington,, , Ph.D. Ph.D.Ph.D. UniversityUniversity ofofof CapeCapeCape Town, Town,Town, South SouthSouth Africa, Africa,Africa, and andand thethethe GlobalGlobalGlobal EntrepreneurshipEntrepreneurshipEntrepreneurship Research ResearchResearch AssociationAssociationAssociation rothko.co.za GEMGEMGEM 2015/162015/162015/16 GlobalGlobalGlobal ReportReportReport 010101 rothko.co.za ► SPONSORS ► SPONSORS GEM SPONSORS and continues to sponsor the Babson eldest son, YAB Dato’ Seri Mohd Najib bin international sites and liaison offices in 12 economic system. In 2015, ICSB and College Entrepreneurship Research Tun Abdul Razak, current prime minister countries and more than 250,000 alumni GERA signed a formal M.O.U. to create ► Babson College Conference (BCERC), the largest of Malaysia. UNIRAZAK recognized in Mexico and around the world. a global partnership around the GEM Babson College is a founding academic research conference focused the imperative for Malaysia’s future project. This includes a GEM track at institution and lead sponsor of the exclusively on entrepreneurship and entrepreneurs to equip themselves with It has been awarded institution-wide the annual ICSB World Conference and Global Entrepreneurship Monitor the Successful Transgenerational the proper tools and expertise to survive national and international accreditations hosting of the GERA Board of Directors, (GEM). Located in Wellesley, Entrepreneurship Project (STEP) a and flourish in today’s modern competitive for its high school, undergraduate and among other engagements. Massachusetts, USA, Babson is global family business research project. economic climate. graduate academic programs. In 2013, recognized internationally as a leader it became the first university in Latin The ICSB organization brings together in entrepreneurial management For more information, visit Thus UNIRAZAK founded The Bank Rakyat America to acquire QS 5-Star rating, educators, researchers, policy makers education. U.S. News and World www.babson.edu School of Business and Entrepreneurship positioning it among the 38 universities and practitioners from around the world Report has ranked Babson #1 in (BRSBE) a unique school, dedicated worldwide with this distinction, according to share knowledge and expertise in entrepreneurship education for 18 ► Universidad del Desarrollo to providing quality education in to the British ranking agency Quacquarelli their respective fields. Council members years in a row. True to the spirit and enterprising drive entrepreneurial and business leadership Symonds (QS). It conducts scientific and representing education, industry, of its founders, the Universidad del in Malaysia. BRSBE was formed with technological applied research in strategic financial institutions and government, Babson grants B.S degrees through its Desarrollo is today one of the prestigious the view that entrepreneurial activity is areas to meet the nation’s social, provide a worldwide network of ideas and innovative undergraduate program, and universities in Chile. The project one of the pillars of a strong and vibrant economic and environmental demands. experience exchange on management offers MBA and M.S degrees through its started 25 years ago in Concepción, a economy. Although big business is vital assistance for small business. ICSB FW Olin Graduate School of Business. southern city of Chile with 100 business for economic health and prosperity, a The Eugenio Garza Lagüera currently has seventeen (17) chapters The School of Executive Education administration students. Twenty five years strong cadre of SMIs and SMEs is also Entrepreneurship Institute promotes and affiliates around the world. You can offers executive development programs later, the facts speak for themselves. essential to ensure a diverse economy entrepreneurship and innovation-based learn more about the affiliates and their to experienced managers worldwide. Its rapid growth has become an and to provide the required support culture in all the students, communities activities at http://www.icsb.org/. Babson’s student body is globally diverse, expression of the university’s main facet: to big business and the community. and regions throughout academic hailing from 45 U.S. states and 57 entrepreneurship. The UDD MBA program In fact, the dramatic economic entrepreneurship programs and a network As the official journal of the ICSB, the economies (non-U.S. students comprise is rated one of the best in South America development in Asia over the past two of business incubators (high impact, Journal of Small Business Management more than 20% of undergraduates and also leader in entrepreneurship decades highlights the importance of basic and social incubators), business (JSBM) is recognized as a primary and 40% of full-time MBA students). education, according to America understanding entrepreneurship in the accelerators, technology parks network, instrument for projecting and supporting Students can choose from over 100 Economia magazine, an achievement region. In this regard, UNIRAZAK through centers for entrepreneurial families, the goals and objectives of this entrepreneurship courses offered each that once again represents the BRSBE is ideally poised to play both a venture capital development activities, organization, which include scholarly year, taught by 17 tenure or tenure- 'entrepreneurial' seal that is embedded national and regional role in developing and the Enlace E+E Mentor Network. research and the free exchange of ideas. track faculty, all with entrepreneurship in the spirit of the university. Today entrepreneurship and meeting challenges experience, seven faculty from other the university has more than 13,521 unique to Asia. The entrepreneurship initiatives The ICSB World Conference, hosted every divisions around the college, and highly undergraduates, 3,023 postgraduates contribute to the generation of jobs and June for the last 60 years, serves as a accomplished business leaders serving as and over 11,752 graduates from 26 For more information visit to strengthening the national economy meeting place for people working and/or adjunct faculty. careers that cover all areas of human www.unirazak.edu.my and social development by means of researching in the field of small business knowledge. UDD also has 15 research knowledge transfer to create develop and management and entrepreneurship. ICSB Entrepreneurial Thought and Action (ETA) centers in many disciplines. One of this ► Tecnológico de Monterrey grow companies. It acts in favor of a more conferences combine the theoretical and is at the center of the Babson experience, research centers, the Entrepreneurship Tecnológico
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