Obama, Zuckerberg talks entrepreneurship in Silicon Valley

U.S. President Barack Obama talks about entrepreneurship with Facebook founder Mark Zuckerberg and other entrepreneurs at the Global Entrepreneurship Summit in Stanford, California on June 24. (People's Daily Online/Han Shasha)

Stanford University, June 24, ----U.S. President Obama shared a stage in Silicon Valley with Mark Zuckerberg, founder and CEO of Facebook and other entrepreneurs on Friday to talk about entrepreneurship and innovation at the 2016 Global Entrepreneurship Summit.

Obama said at the summit that "In today’s world, where our economies have undergone dramatic shifts, where business don’t stop at borders, where technology and automation have transformed virtually every industry and changed how people organize and work, entrepreneurship remains the engine of growth. " He said, entrepreneurship is what gives people a chance to fulfill dreams and create something bigger.

 While Zuckerberg said that "To me, entrepreneurship is about creating change, not just creating companies. And the most effective entrepreneurs who I’ve met care deeply about some mission and some change that they're trying to create. And often they don't even start because they're trying to create a company."

Before they started the conversation, Obama took off his jacket and rolled up his sleeves, joking that although he couldn't wear a T-shirt like Zuckerberg, he would take off jacket so that he didn't look too formal. While Zuckerberg replied "Soon".

Moderated a panel, Obama asked other three young entrepreneurs from Egypt, Rwanda and Lima to share their stories.

 Jean Bosco Nzeyimana, founder and CEO of Habona Limited, a company that uses biomass and waste to develop eco-friendly fuels that are used in rural Africa told that " when I was growing up in the rural villages in Rwanda, I used to spend countless hours in the forest collecting firewood for my parents and fetching water. And that was not just me, but dozens of other children in Africa are facing the same challenges. They are involved in laborious activities to help their parents just to have a meal, instead of going to school."

He thought he could do something to help these families have access to other alternative fuels that they can use to replace charcoal that they have been using for many years. He later came up an idea that turned firewood into affordable and environmentally friendly products in form of briquettes and biogas. "It has been two years, and I have employed more than 25 people, giving them permanent jobs. And we are trying to expand to other areas of the country so that we can continue to improve sanitation, as well as providing these kind of alternative fuels, which can improve health and mitigate climate change in the country and Africa in general."

However, he could still recall all the hurdles in his company's early stage. He started his business when he was 19,an age that could not be easily trusted by local people. So he had to plays roles as his own employee, marketer, technical boss and others. "I had to be everything in the company so that I can build that kind of first impression so that I can impress a few people to come to me and help me run this cause."

While being young is not the only challenge for entrepreneurs. Others mentioned that funding is actually a common challenge for business starters.

"It turns out that starting your own business is not easy. You have to have access to capital. You have to meet the right people. You have to have mentors who can guide you as you get your idea off the ground. And that can be especially difficult for women and young people and minorities, and others who haven’t always had access to the same networks and opportunities," said Obama.