National Team Introductions

1. 2011 Annual Meeting • National Team Introductions

2. GEM ANGOLA • GEM Angola 2010 provided an extension on the inaugural GEM Angola 2008 – increasing the number of APS and NES interviews, and extending the geographical coverage of the APS • GEM Angola 2010 will be publicized through the business magazine Exame. The GEM Angola team will contribute articles focused on entrepreneurship through 4 consecutive months, leading to GEM Angola being the cover story in the June 2011 edition, the proposed month for the GEM Angola 2010 launch

3. GEM BELGIUM • Longitudinal analyses of GEM data shows a verystable low TEA forBelgium, invitingscrutinyfrompolicy makers • Recent concerns have been raised about the consistency between GEM and administrative data on start-ups and self-employment data, and the inability of GEM data to be used for identifying significant differences over time or between neighbouring countries. This has impelled the Belgian GEM team to use GEM data together with other data sources to provide a holistic picture of the state of entrepreneurship in the country. GEM proves to be especially powerful as a means to assess and understand self-perception of entrepreneurial activity. • Belgians see significantly more opportunities • The number of Belgians (in general) that perceive good opportunities for starting a business has increased significantly compared to 2009: 39,58% instead of 14.5%. • Trying a new survey vendor: impact on data • As a result of ongoingquestionsabout data and requestsfrom GERA to increasecall-backs we changedsurvey vendor and improved the quality of oursurvey data collection. At first sight, there are no significant changes as a result of the increased callbacks, but interpreting evolutions between 2009 and 2010 should be done with care.

4. GEM ARGENTINA 1) 1999 – 2010: Consolidation of Entrepreneurial Ecosystem When GEM began in Argentina in 1999: • Successful entrepreneurs weren’t known • Little support for entrepreneurship programs • Entrepreneurship not considered a key driver of economic and social development Today: • Growing activity of universities, NGOs, private institutions, local governments for development/promotion of entrepreneurship through education, investment and policies 2) Entrepreneurs by Opportunity prevail over Necessity 2010 TEA : 14.20% => a decrease from 2009 TEA (14.68%), close to 2007 levels (14.4%). There is a POSITIVE TREND behind this result: • In 2010 opportunity consolidated as the main motivation over necessity: • 63% of early-stage ventures motivated by opportunity (2009: 50%) • Entrepreneurs by necessity decreased to 36% in 2010 (2009: 47%)

5. GEM AUSTRALIA Comparing Landline & Mobile (Cell) Samples • Differences in the demographic composition (e.g., age, gender) of the samples can not be explained by different ownership rates alone • Systematic differences in the response rates  biased prevalence rates • Representativity of samples in danger  looking for cooperation partners

6. GEM BARBADOS The Cave Hill School of Business and other factions of the University of the West Indies have been involved in the FINPYME project - a diagnostic methodology developed by the Inter-American Investment Corporation (IIC) to assess SMEs, to help them become more competitive and improve their access to potential sources of financing. To date the initiative has been launched in Bahamas, Barbados, Belize, Central America, Dominican Republic, Jamaica and Trinidad&Tobago with 176 diagnostics having been completed. Objective strategic diagnostic reviews on the SMEs have been conducted and action plans have been formulated to increase their competitiveness. In 2011, CHSB will continue a number of projects in the area of entrepreneurship research: • The development of an Entrepreneurial Online Portal with the IDB which will include baseline studies and help to assess the current state and required needs to improve performance; • The Jobs Opportunity for Scale Up project with USAID which will include case studies and baseline studies; • FINPYME ExportPlus with the IIC; and • The Barbados Entrepreneurial Foundation’s research activities associated with its five pillars – Government Policy, Mentorship & Networks, Business Facilitation, Finance Availability, and Talent & Education .

7. GEM BOLIVIA • Universidad CatólicaBoliviana

8. GEM BRAZIL • Instituto Brasileiro da Qualidade e Produtividade (IBQP)

9. GEM CHILE CHILE IN ACTION GEM project continues growing: 11 regions (from 15) and is the most extensive social science research in the country! NOTABLE FINDINGS • 2010 TEA: 16.83%. • High grow expectations is important: 22.57% of TEA > 10 jobs in 5 years. • In Chile, the effects of the crisis are relatively controlled, but the 27F Earthquake has several implications: in some regions 7.8% felt that the main reason for leaving their entrepreneurial venture was the result of the earthquake. GEM IN ACTION After 20 years, there is a change in the coalition ruling the country. This new government, within other aspects, has as its objective the creation of 100,000 new ventures.To achieve this goal we are working together on several government programs that will support entrepreneurs.

10. GEM CHINA • Tsinghua University

11. GEM COLOMBIA 2006,2007,2008,2009, 2010 In 2010, Regional studies 10.800 sample

12. GEM CROATIA Unexpected research finding: Very low ratio between Opportunity vs. Necessity based entrepreneurs, persistent over years Expected, but not pleasant finding: How difficult it is to change eco-entrepreneurial system – policy commitment, system design, and implementation require vision, leadership, knowledge and patience – very difficult to find among policy makers (at the same time) Most important team activity: Finding money

13. GEM DENMARK GEM member for 12 years – since the start 2010 GEM Report “Training and Network Organization” downloadable via Denmark microsite on GEM site

14. GEM ECUADOR Significant Findings from GEM 2009 1. Those who have closed a business before, in general, were more optimistic regarding • Ease of starting a new business in 2009 • Growing a business in 2009 • Low SEA (0,48) • Innovation confidence index: in both consumer (CIC) and organization (OIC), men showed more confidence than women. ESPAE Research 1. Entrepreneurial education: competencies and attitudes 2. Business planning as an antecedent of dynamic business: special topic since 2008 3. Knowledge spilloverfrom big domestic firms and multinationals

15. GEM FINLAND GEM FINLAND Some findings Continuous absence of high-growth orientedas well as innovative entrepreneurs Finnish adult population is alert to entrepreneurialopportunities, but they have low intentions The overall entrepreneurial activity is aboutthe average among all GEM countries “New” aspect Changes in entrepreneurial attitudes among young (academic) adults

16. GEM GERMANY • Leibniz UniversitätHannover

17. GEM GREECE The TEA rate in the crisis

18. GEM GUATEMALA • Universidad Francisco Marroquin

19. GEM HUNGARY While the 2008 crisis hit Hungary very badly the different measures and factors of entrepreneurship show a contradictory picture. While the TEA index increased from the 2006-2008 6-6.6% to 9.03% and 7.13% in 2009 and in 2010, respectively, the percentage of the population recognizing good business opportunities fell to a historically low 2,8%(!) by 2009 - meaning that the increase of entrepreneurial activity does not necessary mean positive changes. The change of the informal investor prevalence rate: over the 2006-2008 time period the business angel rate was 0.88% that increased to 4,73% and 4,06% in 2009 and 2010. The narrowing possibilities of bank loans were, at least partially, compensated by new informal investors. This finding implies that the “reserve army” of the informal investors could be much higher than we have thought previously.

20. GEM IRAN • University of Tehran

21. GEM IRELAND Team members: Dr Colm O’Gorman, Professor of Entrepreneurship, Dublin City University and Paula Fitzsimons, founder of Fitzsimons Consulting, specialising in entrepreneurship and growth • The foreword to the annual Irish GEM report has been written and launched by successive Ministers for Enterprise in recent years. • GEM is quoted regularly in Ministers’ speeches, frequently cited by policy makers and used to support policy initiatives. • GEM has been particularly influential in influencing research, policy initiatives and media interest in women's entrepreneurship. There has been a gender chapter included in the annual report in recent years • GEM in Ireland has a strong reputation with journalists and is widely referenced when issues relating to entrepreneurship are covered in the media • The Irish GEM report is used as a teaching aid in many third level colleges and frequently referenced by third level students.

22. GEM ISRAEL Team: National Director: Prof. Ehud Menipaz, The Abe and Sol Krok Chair in Entrepreneurial Management, and Chairman, The Ira Center for Business, Ben Gurion University National Coordinator: Mr. YoashAvrahami Team members: Prof. Miri Lerner, Dr. MiriYemini, Mr. DovBarak Sponsors: The Ira Center for Business, SamiShamoon College of Engineering, ATEC Most Significant Finding: TEA Regional 50% (Approx.) of national TEA Key GEM Indicators • Nascent 3.25 • New Firm 2.60 • Established Business Owners 3.12 • TEA(Total Early Stage Activity) 5.71 • TEA Negev Oversample N500 3.00 • TEA Opportunity-Based 69.00 • TEA Necessity-Based 31.00 • Male Entrepreneurs 61.50 • Female Entrepreneurs 38.50

23. GEM JAMAICA JAMAICA has successfully conducted five Adult Population Surveys (APS); 2005, 2006, 2008, 2009 and 2010. The findings over the five years reflected numerous challenges largely attributed to the high cost of imported fuel and low productivity of the labour force. The TEA for 2010 was 10.54%, down from 23.6% in 2009. The year 2010 was a challenging one for most businesses. Except for Retail Trade, Hotel and Restaurant, nearly all other business sectors declined.

24. GEM KOREA • Joined the project in 2008, led by Gyeongnam National University of Science and Technology (GnTech) (formerly Jinju National University) with financial support from the Small and Medium Business Administration (SMBA) and 4 Companies of Korea. • Team members produced the following research papers in 2010: An Empirical Study on the Change of Female Entrepreneurial Propensity in Korea, The Korean Venture Management Review A Study on the Brand Awareness Establishment of Korean, Entrepreneurial Firms The Korean Venture Management Review Entrepreneurship in Korea: Global Entrepreneurship Monitor (GEM) Korea 2009 Journal of Korea Entrepreneurship • Opportunity-based entrepreneurship increased to 59% in 2010 from 54% in 2009 • Proportion of male entrepreneurs has grown from 75% in 2009 to 84% in 2010

25. GEM LATVIA Team • In GEM since 2005 • A small team • Background in Economics Findings • Economic boom turns into a deep • recession • TEA is countercyclical • Push-factors are very strong Other activities • PSED in Latvia • Survey of Innovative Businesses in • Latvia

26. GEM MACEDONIA • Team: Business Start-Up Center (Faculty of Mechanical Engineering, Ss. Cyril and Methodius University) and Macedonian Enterprise Development Foundation (MEDF). • TEA index is 7.88. Nascent entrepreneurs account for 4.76% of early-stage activity whilst 3.12% are new firm entrepreneurs. 7.58% from the total population are owner-managers of established businesses. • Men are more entrepreneurially active: 11.73% are male early-stage entrepreneurs (as opposed to 3.95% female). • Entrepreneurship due to necessity becomes even more important reason for entrepreneurial activity – 64% from early-stage entrepreneurs, opposed to entrepreneurship motivated by good business opportunities – 36%. • 1/3 from the surveyed say there will be good opportunitiesto start business in the country in the next 6 months whereas 25% from the surveyed entrepreneurs expect to hire more than 10 people in the next 5 years.

27. GEM MALAYSIA • The importance of government participation → too much assistance is counter productive • The sustainable economic conditions increases the need for opportunity driven entrepreneurship to motivate people - which explains Malaysia’s low TEA rate • Thus the requirement for knowledge and skills for innovation becomes increasingly higher → innovation orientation becomes crucial for Malaysia

28. GEM MEXICO • Monterrey Tec Entrepreneurship Program • GEM project • Incubators, technological parks • Mexico participating in 5 ocassions since 2001. • Interesting finding: • The gap reductiong between male and female TEA rates. • Male rate was two-fold that of female in 2001 • Difference of half point in 2010.

29. GEM MONTENEGRO • GEM Montenegro includes experts in fields of education, entrepreneurial policies, government policies, economic chamber for development, employment agencies. • Research Theme: High level of TEA index (14,9%). Highest of all Eastern Europe Economies in GEM 2010; also above the average TEA index of all efficiency driven economies (11,7%). • Key Finding: Above rate means that Montenegro need to improve the entrepreneurial climate in order to support those rising new firms, and increase the level of established business.

30. GEM NETHERLANDS • Starting one’s own business gains popularity in NL • An increasing share of the Dutch citizens starts a new business (7.2% in 2010). This brings NL in the top-3 of EU-countries participating in GEM. • Entrepreneurship and GEM gain popularity at universities • Due to increased attention for entrepreneurship at universities, GEM gains popularity. As such, GEM data and GEM publications are increasingly used: both in academic research and in entrepreneurship courses. • GEM applied to a new subject in 2009: user innovation • Not only producers, but particularly users develop innovations. A substantial share of the Dutch citizens (6.1%) are ‘user innovator’. User innovators more often start a new business and are more often innovative.

31. GEM NIGERIA

32. GEM PAKISTAN 2010

33. GEM PAKISTAN ENTREPRENEURIAL CHARACTERISTICS Pakistan’s first GEM 2010 study reveals that its main entrepreneurial characteristics are similar to its peers in the MENA region. The new business ownership rate (2.7 %) and female participation in entrepreneurship (1 female to 4.5 male) are among the lowest. IMPACT OF GLOBAL ECONOMIC DOWNTURN & OTHER CRISES Overall, new firm start-up as well as established business growth activity and related opportunities have been impacted negatively not only by the recent global economic crisis, but severely curtailed during the past several years due to the on-going ‘war on terrorism’ in the north western region of Pakistan bordering Afghanistan and the resulting precarious security situation in the rest of the country. The economic situation worsened further due to natural calamities including a major earth quake and recent widespread floods. In this scenario a precise impact of global financial crisis in light of these national catastrophic events is hard to discern. ENTREPRENEURSHIP FRAMEWORK CONDITIONS Internal market dynamics, physical and commercial infrastructure are adequate. However, absence of a national policy, related government programs, poor funding and education support are the key challenges.

34. GEM PALESTINE Team: Palestine national team includes a number of experts in the fields of; Economic Policy, Statistics, Mathematical Economics, and Entrepreneurship in Palestine. Research Problem (Theme): Fear of failure from doing business. Palestine is ranked among the top 10 GEM countries in fear of failure. This variable reduces the expectation of doing business in the future. Main Finding (by Logistic Regression): Above rate can be reduced by higher education, increasing the efficiency of social networks, and media coverage.

35. GEM PANAMA • Who are we? • City of Knowledge: A Tech Park with 65 innovative companies, 45 academic programs, and more than 50 NGOs. The Panama Business Accelerator (PBA), as an integral part of City of Knowledge, is in charge of the GEM study. The PBA, besides being an incubator for innovative start-ups, does consulting and training in entrepreneurship and innovation. • IESA: A Business School created in 1965, operating in Venezuela, Panama and Dominican Republic, and accredited by AACSB, AMBA and EQUIS • The Center for Entrepreneurs was created in 2003, and today is the main promoter of Venezuelan Entrepreneurship Ecosystem which involves more than 50 academic institutions, private and public sector organizations. • We have participated in the GEM study since 2009. • We had the lowest TEA and the highest opportunity driven start-ups index in Latin America in 2009.

36. GEM PERU • Center for Entrepreneurship, ESAN University • Oswaldo Morales, Keiko Nakamatsu, LilianaUehara, Jaime Serida • Current research • Using the theory of planned behavior to explain entrepreneurial behavior Attitude toward the behavior Behavioral beliefs Normative beliefs Subjective norms Intention Behavior Perceived behavioral control Control beliefs Ajzen, 1991

37. GEM POLAND APS – 2001, 2003, NES – 2004 University of Economics in Katowice • One of five state-owned universities of economics and management, founded in 1937 • Wide range of research and teaching: from social sciences to econometrics and IT • 15.5k students • Experienced team of entrepreneurship researchersincluding Ambassador of AoM Division of Entrepreneurship • Bachelor and Master courses in entrepreneurship • Cooperation agreements with over 170 higher education institutions worldwide Polish Agency for Enterprise Development • A governmental agency subordinate to the Ministry of Economy • Main objectives: • support entrepreneurship, especially SMEs, • support innovation, • human resources development. • Research and anlaysis: • Report on SME sector in Poland, issued each year, • Women entrepreneurship, • 2nd chance entrepreneurs, • Sustainable growth policy.

38. GEM PORTUGAL • GEM 2010 activities in Portugal included for the first time a specific analysis of entrepreneurship in the Azores islands, as well as the Portugal mainland. • This expansion reflects a growing trend in Portugal, in which regional programmes to support innovation and entrepreneurship are growing in importance. • The GEM Azores analysis is being timed to feed into the Azores Regional Government’s development of its 2011 Strategic Plan on Entrepreneurship in the Azores.

39. GEM ROMANIA Member: Babeș-Bolyai University, Cluj-Napoca - Faculty of Economics and Business Administration GEM member since 2007 same Vendor (Metro Media Transilvania), face-to-face APS • Main findings: • One of the lowest TEA rate among efficiency-driven economies • TEA between 4-5% in all 4 years • Relative low level of necessity entrepreneurship • Woman entrepreneurship: around 1/3 of total • One of the highest share of those who appreciate that it’s harder to start a business than one year ago (both 2009 and 2010) Main institutions interested in GEM data: National Bank of Romania, SME Development Agency, commercial banks

40. GEM - Russia GEM RUSSIA • Team: professional researchers in the field of statistics, economics and sociology from Higher School of Economics (HSE, Moscow) + Graduate School of Management SPbSU, (St. Petersburg), with active involvement of HSE students in the project • Research Problem (Theme): informal investment role in funding nascents The share of informal investors in Russia is one of the lowest among GEM countries. This circumstance reduces access to finance for nascent entrepreneurs - while access to formal sources is limited. • Main findings: (by Logistic Regression) The probability of being an informal investor equals 99,7% for a person who has entrepreneurial experience and estimates the EFC are good for start-ups (by Ordinary Regression) Early entrepreneurs with higher education, permanent employment, low demand for start-up capital and high return expectations attend to informal investors with a probability of 75,5%

41. GEM SAUDI ARABIA Team Members: Ms Munira Al Ghamdi – Team Manager Dr Hazbo Skoko – Principal Investigator Dr Norman S Wright – Co Investigator Dr Ricardo Santa – Senior Researcher Ms Wafa Al Debasi – Project Admin The 2010 data marked an increase in positive perceptions of cultural and societal support for entrepreneurship, the commercial infrastructure supporting new firms, R&D transfer, and the physical infrastructure in the Kingdom. • Perhaps most telling is that there is not a single category that has experienced a negative shift in score from 2009.

42. GEM SINGAPORE • We are a new team based at Nanyang Technological University (NTU) with diverse backgrounds: • Dr. Kim Yin Chan – career motivation and development • Dr. Sasha Chernyshenko – psychometrics and HR management • Dr. Moon-Ho Ringo Ho – statistical modeling • Dr. OlwenBredford – sociocultural psychology • Dr. AlexLin – Entrepreneur-in-residence • Mr. Y. Y. Lai – GEM project manager • We are currently conducting a longitudinal study of student career aspirations at NTU (sample size 10K) to understand the development of entrepreneurial motivations in the context of university education • Our university is one of the founding members of the World Entrepreneurship Forum

43. GEM SLOVAKIA Joined GEM in December 2010 The Faculty of Management (est.1991) is one of the thirteen faculties at Comenius University (founded in 1919), the oldest and the biggest Slovak university. It is the leading management and business administration school in Slovakia. The Organization EDUNIVERSAL has awarded the Faculty the Excellent Business School title three times. At the Faculty, the Entrepreneurship Consulting and Development Centers have been operating for over 5 years. Key activities : • improvement of entrepreneurship skills of students • business consulting activities for start-ups, SMEs and NGO. Key partner for GEM project in Slovakia will be The National Agency for Development of SME (NADSME). NADSME is a state institution reporting to the Ministry of Economy of Slovak Republic.

44. GEM SLOVENIA Findings from 2002 – 2009: • Overall high levels of egalitarianism • Low levels of fear of failure • High levels of self confidence regarding knowledge and experience for entrepreneurship despite on average high levels of mortality among nascent entrepreneurs • Low levels of women in entrepreneurship • Opportunity based entrepreneurship prevailing (motive: greater independence and increasing income) Impact: Slovenia GEM results are: • used by many government agencies as a reliable source when preparing analyses, in strategic documents, or making arguments: • used at universities in teaching entrepreneurship courses, especially at master and doctoral level; • published in Slovenian business daily FINANCE.

45. GEM SOUTH AFRICA • Joined GEM consortium in 2001 as first African country • Wrote a report every year although took a skip year for • APS in 2007 • TEA rate one of lowest amongst developing ( factor & • efficiency-driven) countries at an average of 5.5%. In 2010 • jumped by 62% to 8.9% probably due to the influence of • hosting the World Cup Soccer Tournament • Joined by other sub-Saharan African countries – Angola, • Zambia, Ghana and Uganda in 2010 – will produce a Sub- • Saharan African report Other North African countries also • participating and next year possibly Nigeria and Kenya?

46. GEM SPAIN The most developed observatory Research Lines 2009-10 Activities Some Findings • Gender • Innovation • Social Responsibility • Financing • Family E-ship • E & T • Foreign E-ship • Techno and Bio E-ship • Regional E-ship • Rural and urban E-ship • Cultural E-ship • Special Reports on: • Gender (Equality Ministry) • Innovation, CSR (Industry ministry) • Technological E-ship (Zaragoza City of Knowledge) • Biopharma E-ship (Amgen) • International Workshop: VI Edition in Ceuta 2011 • First GEM Metropolitan in a Capital City: Madrid • Women and men perceptions of success influence their respective entrepreneurial attitudes, intention and activity • The product is really the main focus of innovation, followed by its promotion • Institutional duties are more extended than social ones in SCR • Business angels show different characteristics compared to informal investors • Family precedents influence E-ship intention • Foreign E-ship is proportionally more active than autochthonous • Bio E-ship is highly innovative and faces different start up problems • Framework conditions explain the regional TEA differences ….and a long etc.

47. GEM SWEDEN Swedish Entrepreneurship Forum New team 2010 Team leader: professor Pontus Braunerhjelm (Sw Entrepreneurship Forum + Royal Institute of Technology). Members: Mikael Samuelsson (Stockholm School of Economics), Kristina Nyström (Royal Institute of Technology and RATIO), Per Thulin (Sw Entrepreneurship Forum + Royal Institute of Technology); Ulrika Stuart Hamilton (Swedish Entrepreneurship Forum) In 2010: Data collected for the first time since 2007 Seminar on GEM in May to inspire debate and create interest Conference on social entrepreneurship in December; special report author Siri Terjeson (Indiana University) did presentation in Sweden In 2011: Presentation of global report at “Small Business Days” (policy makers, researchers, SME sector) on January 27, by Pontus Braunerhjelm National report on Sweden and conference in the spring Plans for a European conference in Brussels together w SME organization UEAPME, focussing on entrepreneurship framework conditions to reach EU policy makers And last but not least: GEM session at ICSB conference in Stockholm June 2011.

48. GEM SWITZERLAND • SBA Fribourg

49. GEM SYRIA • In 2005, Syria launched major economic reforms to transition to a Social Market Economy, including providing a greater role for the private sector. • The GEM Syria National Team was formed in 2009 by the Syria Trust for Development and the Syrian Young Entrepreneurs Association (SEYA). • IDRC generously covered the costs of data collection for the APS and the preparation of a National report (due out in January 2011.) • Key Findings (2009): • TEA (8.5%) and EBO (6.7%) rates in Syria are low compared to other MENA and factor-driven economies (even controlling for GDP per capita). • However, Syrian adults’ attitudes and perceptions are quite positive: • 89% consider entrepreneurship a good career choice. • 89% perceive successful entrepreneurs as having high social status. • 56% indicated an intention to start a business in the next three years.

50. GEM Taiwan Team • Status • First Survey in 2002 • 2010 join again and will be continued in 2011… • Economic Growth and Development in Taiwan • Growth rate is more than 12% in 2010 • Per Capital Income exceed 18,000 USD in 2010 • GEM Survey we are In Group of Efficiency Driven Economy • APS Results • TEA=4.73% (2002) (suffering inadequate investigation problem ) • TEA=8.37% (2010) (may not include those entrepreneurs who are taking adventures in China Market) • NE(4.7%), BE(3.7%), EB (7.2%) • NES Results • Advantages: Pro Entrepreneurship Culture, Political Context, Physical Infrastructure • Disadvantages: Financial support, Education and Training, Government Policy • Conclusion and Suggestion