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IVLP – Entrepreneurship… made in the USA!

In this blog post we are sharing with you some exciting news and conclusions about entrepreneurship – this time with a twist, outside the Greek borders!

Konstantinos Vassakis, co-founder and Yang of Bizrupt, was selected and participated last August in the International Visitor Leadership Program (IVLP) of the US State Department. The program aimed to investigate the factors and methodologies that make entrepreneurship an engine for prosperity and stability, emphasizing the development of small businesses (Entrepreneurship as the Engine of Prosperity and Stability – Small Business Development).

Konstantinos from our team traveled together with 21 other distinguished participants from all over the world to three regions of America: Washington D.C., Des Moines (Iowa) and Chicago (Illinois). As part of the program, they visited innovation hubs and accelerators of international scope, universities, successful businesses, as well as organizations that support entrepreneurship and innovation.

Through the visits, meetings, discussions and presentations of the program they had the opportunity to interact with people and organizations of the local entrepreneurship ecosystems, to gain knowledge and exchange experiences on strategies and policies that promote entrepreneurship and innovation, as well as the utilization of mature research results for the commercialization of new technologies and the support and facilitation of the development of small and medium enterprises.

The IVLP highlighted the determinants of achieving prosperity and economic growth in the regions of the United States, and took all of this new knowledge to bear and apply best practices to the Cretan ecosystem.

Some things we keep from Konstantinos’ trip to the USA.

  1. Entrepreneurship is everywhere. Its contribution is not questioned, nor is there any prejudice against it. It is commonly accepted for everyone regardless of gender, race, age.
  2. There is a culture of entrepreneurship and innovation. The fear of failure is gone! From an early age, everyone is encouraged to try new things, which can bring change.
  3. There is a common strategy and vision by all members of the entrepreneurship ecosystem for the economic development and prosperity of their regions. There is a strong interaction between them and synergies are developed towards the achievement of this common goal.
  4. To achieve the development of an area it is very important to ensure the presence of large businesses, which can offer high-paying jobs and an urban environment that attracts young people and families to live a beautiful life. Des Moines has managed to increase its population by 20% in recent years, through the development of the above two elements.
  5. The direct support of entrepreneurship and innovation by organizations, the state, but also through the support of the state towards private initiatives is obvious.
  6. An important role in the development of new startup companies is played by the existence of several initiatives, each of which focuses on a different industry or phase of the development of the idea, contributing to the essential practical support and development of business ideas in promising startup companies.
  7. The effort in businesses to ensure equality and inclusion among all team members, is evident. For this reason, some companies have a special department that ensures the achievement of these goals.

Having gathered so much useful information, from a huge country that knows how to make the right moves in supporting entrepreneurship and innovation, we are already in the process of integrating what we have learned into our own actions for 2023. As an organization, we want to provide the best possible support to individuals and groups of Crete who want to do business, so tune in to Bizrupt channels for our coming programs and events!