Improving America's ties with the developing world is one of the Obama administration's major policy goals – and, to that end, the U.S. Agency for International Development is partnering with Cisco Systems to improve entrepreneurship education in emerging economies.
USAID will provide $1 million so budding entrepreneurs in emerging-market countries can attend Cisco's network-training programs or entrepreneurship classes.
Educational nonprofit World Learning will also play a role in the initiative, which aims to teach 2,500 young people how to harness their inner entrepreneur over the next two years.
The alliance, USAID deputy administrator Donald Steinberg said, "will help build sustainable businesses and train the business leaders of tomorrow."
Entrepreneurship education can not only provide young people with the education they need to join the innovation economy – it can help them solve structural economic and social problems in their home countries.
And the developing world will become increasingly important from a business standpoint, as well. IBM, like Cisco, recognizes emerging economies' growth potential – in the past five years, it has invested $300 million to build training centers and country offices in Africa.