Economy 2.0: Education and startups as social factors

According to recent statistics, we’ve come to understand that startups are expanding worldwide, bringing with them a new spirit of modernization and creativity, embracing much potential that is subsequently being translated into changes in the world’s economy. Innovative startups are playing an increasingly important role as a driving force of economic and social development. In addition, startups as small business ventures, with a focus on innovative ideas and services that can be brought about anywhere, offer additional tangible advantages and benefits for developing countries, countries facing specific challenges or countries who most need economic opportunities. A small startup idea can turn into a big innovative solution that can change the future of developing countries by affecting the long-term health of the economy.

Startups are increasingly seeing the potential in collaboration with universities as a powerful driver of innovation and entrepreneurial activity.

We are in the early stages of unprecedented change in our education system. Everything from the opportunities of the internet to the changing skill sets of the digital age are challenging our age-old institutions. It is inevitable that even some established institutions will be shaken as new educational methodologies supersede old models. In many ways, these changes are already happening. Millions of students take classes through online platforms like Udemy and Coursera.

Investing in social startups offers a unique combination of tangible economic benefits and positive social return; this means that such investments not only promote economic growth but also lead to positive changes in the communities where startups operate.

Investing in social startups often translate into the creation of new jobs and the stimulation of the local economy, which subsequently increases the standard of living of the community where the business is being developed. One of the most tangible benefits is the opportunity to solve complex social problems. This can be achieved by bringing together a combination of resources, skills and innovative ideas which can be deployed in collaboration and impact specific industry segments and beyond.

We thank Enrit Yzeiraj, Deputy Minister of Finance and Economy, Blerina Gjaci, lecturer at the Faculty of Economics, Patrik Fetahaj, startup ecosystem expert and all others that added value to the discussions with the participants.