Diaspora Networks: A New Impetus to Drive Entrepreneurship
9 Pages Posted: 3 Jan 2014
Date Written: March 1, 2012
Promoting entrepreneurship abroad by engaging, designing, and implementing a comprehensive Diaspora strategy network constitutes an immense source of ‘soft power.’ Diaspora network is the new impetus to drive entrepreneurship and has the capacity to convert the brain drain into brain gain and brain circulation. Diasporas, through their confluence of education, network, and access to capital in home countries, are particularly advantageous for global entrepreneurs due to their international presence and the wide range of resources they can potentially make available to entrepreneurs. To effectively use Diaspora as a tool, policymakers need to create a favorable business climate through trade liberalization reforms, encourage flows of FDIs, ensure good governance through transparent financial and legal frameworks, and engage the network through an ecosystem that promotes entrepreneurship.
Keywords: entrepreneurship, diaspora, network, strategy, policy, global
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