Jordanian Entrepreneur Highlights Global, Local Startup Growth At Youth Summit In Russia

(MENAFN- Jordan News Agency)

Amman, Aug 31 (Petra) – Bilal Al Wadi, CEO of the Jordanian Association for Entrepreneurship and Director of the Center for Entrepreneurship and Innovation at Al-Zaytoonah University of Jordan, participated in the 4th Kazan Global Youth Summit 2025 hosted in Tatarstan, Russia.
Speaking at a session opened by President Rustam Minnikhanov and attended by youth ministers, university leaders, thought leaders and entrepreneurs from around the world, Al Wadi said entrepreneurship is no longer just an economic option but a key driver of global growth.
He noted that according to the Global Entrepreneurship Monitor (GEM), the number of entrepreneurs worldwide has surpassed 665 million this year, with over 300 million startups founded annually at a growth rate of nearly 21 percent. More than half of new ventures, he added, now follow sustainable business models that factor in environmental and social impact, while 80 percent of entrepreneurs rely on digital tools to expand markets and strengthen competitiveness.
With regard to Jordan, Al Wadi highlighted significant progress, citing the 2024-2025 GEM report, which showed a 34 percent rise in early-stage entrepreneurial activity, women's participation climbing to 20 percent, and the gender gap narrowing to just 3 percent. Jordan ranked second in the Arab world for entrepreneurial environment in 2025, he said, reflecting effective national policies and institutional support for youth-led ventures.
Al Wadi pointed out that global challenges, such as a rising fear of failure reaching 49 percent in 2024, call for evidence-based solutions. These include boosting digital skills and harnessing artificial intelligence and data analytics which increase startup success rates by over 30 percent alongside expanding access to alternative funding channels like crowdfunding and sustainable venture capital, which reduce early-stage failure rates by around 27 percent.
He added that long-term mentorship programs under expert supervision can raise startup survival rates in the first years by 40 percent, while international and regional cooperation drives growth 25 percent higher compared with local-only ventures.
Stressing the importance of adopting a "smart failure" culture, Al Wadi said treating failure as a learning experience builds resilience, enabling entrepreneurs to overcome crises and turn challenges into opportunities. He urged the creation of cross-border smart incubators and innovation hubs that bring together capital, research and advanced technologies, emphasizing that investment in entrepreneurship is an investment in a more sustainable future capable of addressing global challenges.

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