When the International Olympic Committee settled on Vancouver for the 2010 games, Bruce Dewar, MOT ’92, wanted to make sure the region could survive it. Host cities have suffered devastating economic fallout, and Dewar was determined that the Vancouver Games would give back to the community as much as it reaped.
As CEO of 2010 Legacies Now, he developed and supported projects to help British Columbia leverage the games to strengthen local communities—an effort that the International Olympic Committee has lauded as best practice. Today, seven years after the event, Dewar is still tapping the impact of the Games. In 2011 he launched a venture philanthropy organization called LIFT Philanthropy Partners that grew out of the new enterprise climate generated by the Olympic Games.
LIFT invests in building the capacity, sustainability, and impact of charities, nonprofits, and social enterprises working to remove barriers to health, education, and employment for vulnerable Canadians. Dewar, who is president and CEO, says that LIFT is improving the fabric of society. “We’re building self-sufficiency. We’re building confidence. We’re building support networks.”
Local governments across Africa should make every effort to promote entrepreneurship, says Flavian Marwa, SF ’10, but they shouldn’t enter the risky business of picking and backing winners. Founder of Sebelda Global Development Advisors and a consultant for the World Bank Group’s Africa region, Marwa is responsible for developing sustainable models of technology-based startup incubators with a focus on Africa.
“When governments provide seed money,” he says, “new enterprises tend to rely on it rather than learn to compete in the real marketplace. They lose their incentive to make it work when they know they can get capital infusions from the government.” Marwa believes that governments can best promote a healthy enterprise culture by partnering with industry to create mentorship programs. “Governments need to facilitate connections between young entrepreneurs and seasoned business leaders who can help them anticipate and navigate thorny patches,” he says.
Marwa also stresses the importance of promoting a healthy lending climate. He notes that government investment is critical, but not straight-out subsidies. “It costs investors a relatively steep sum of money to write a loan, and that discourages them from making the small-scale loans that would be appropriate to help a startup.” He believes that governments can offset loan origination costs with incentive programs—and similarly provide economic perks in the form of tax breaks or subsidies to motivate established businesses to invest in new enterprises.
How does an isolated nation like New Zealand become a major player in the international marketplace? The short answer is that they know how to weave. Lynne Dovey, SF ’02, who has spent the last four decades working for the New Zealand government in a range of policy roles, notes that the nation’s remoteness has inspired Kiwi entrepreneurs to embrace new ideas from around the world through trade relationships, scientific collaborations, and commercial partnerships.
But the country has a prodigious store of indigenous wisdom, Dovey says, and that knowledge is a vital part of the mix. Dovey says that the New Zealand government promotes a culture of entrepreneurship that leverages proprietary knowledge in areas that have become the nation’s province like biosecurity, healthcare, earthquake science, and renewable energy. Into that approach it integrates a healthy dose of ancient, homegrown Māori wisdom, the body of knowledge first brought to New Zealand by the Polynesian ancestors of present-day Māori. Woven together, these components have made for a thriving enterprise climate.