How many entrepreneurial ideas stop at the first "what if"? GEM data shows nearly 50% of those who took part in our Adult Population Survey never start a business for one reason: fear of failure.
This week, GEM is contributing to the 3rd Global Labor Market Conference (GLMC) in Riyadh, Saudi Arabia, and advancing the dialogue on how labor markets can become more resilient, inclusive, and future-ready. Speaking before a global audience of policymakers, business leaders, and researchers, our Executive Director Aileen Ionescu-Somers, Ph.D. shared three shifts needed to turn youth risk into economic opportunity, during yesterday’s panel “The Case for Failing:
- Experiential learning: Teaching entrepreneurship through action, not just theory, to build real-world confidence.
- Policy alignment: Updating policy and education to recognise entrepreneurship as a respected career path.
- Reducing barriers: Eliminating the bureaucratic and funding gaps that prevent young entrepreneurs from succeeding.
Under this year’s theme, “Future in Progress”, GLMC brings together over 10,000 participants, joined by 200 international speakers and 40+ labor ministers from 100 countries, serving as a critical forum for turning these insights into policy. Ensuring institutional frameworks support experimentation is key to helping the next generation build the resilience to fail forward and drive long-term economic impact.