PALO ALTO — Speaking to an eager audience of international entrepreneurs at Stanford University on Friday, President Barack Obama challenged the tech community to look beyond Silicon Valley to embrace diversity and forge global relationships.
Obama stressed international connections, despite the anxiety those relationships can create, during his seventh — and last — Global Entrepreneurship Summit. His appearance came on the day the world was reeling from Britain’s exit from the European Union.
“I believe we are better off in a world in which we are trading, and networking, and communicating, and sharing ideas,” Obama said. “But that also means that cultures are colliding, and sometimes it’s disruptive and people get worried. You’re the bridge. You’re the glue — particularly the young people who are here, who can help lead to a more peaceful and prosperous future that provides opportunity for everybody.”
Obama received a standing ovation when he took the stage, and had a tough time getting those in front to stop taking selfies and sit down. The attention continued on his way out of town — hundreds of people lined the road as the presidential motorcade left Stanford on its way to Moffett Field. For more than a mile along the Embarcadero in Palo Alto, summer campers in matching T-shirts waved, some holding American flags.
The annual summit is an opportunity for Obama’s administration to showcase its commitment to fostering global innovation. The three-day event brought in more than 700 entrepreneurs from 170 countries, as well as 300 investors, for pitch competitions, panels and networking.
In addition to the outgoing president, speakers included Facebook CEO Mark Zuckerberg, Google CEO Sundar Pichai, Secretary of State John Kerry, Uber CEO Travis Kalanick and Airbnb CEO Brian Chesky. On Friday attendees even got a visit from cast members of HBO’s TV series “Silicon Valley,” who kept the audience in stitches by mocking tech startup culture.
Budding international entrepreneurs said they were inspired by Obama’s speech, especially when he suggested that starting new businesses should be about more than making money.
“The social entrepreneurship, it’s helping other people to grow,” said Stephanie Carvajalino, who has a cookie company in her home country of Colombia.
Another entrepreneur from Colombia, Juan Camilo Basto, plans to share the lessons he’s learned here with his countrymen and women.
“We think this kind of event will drive our companies in new ways,” he said. “We’re getting huge contacts here.”
Obama took the opportunity Friday to comment on Britain’s vote to leave the European Union. The president said he spoke with Prime Minister David Cameron, who he called an outstanding friend and partner, and is confident that Britain is committed to an orderly transition away from the EU.
“One thing that will not change is the special relationship that exists between our two nations,” he said.
Obama also called attention to the United States’ improved relations with Cuba — a priority of his administration — by pointing to 11 Cuban entrepreneurs in the audience, the first Cubans to attend in the program’s history.
Emphasizing an issue acutely felt in the Bay Area tech community, Obama warned that as the world’s innovators forge ahead, they cannot leave women and minorities behind.
“You deserve the same chance to succeed as everybody else,” he said, speaking to underrepresented groups. “We’ve got to make sure that everybody has a fair shot to reach their potential. We can’t leave more than half the team on the bench.”
Obama congratulated more than 30 companies that signed a “Tech Inclusion Pledge” this week — including Airbnb, Lyft, Pinterest, Spotify and Zynga — promising to make their workforces more representative of the U.S. population by creating specific recruitment goals and publishing annual diversity metrics.
After his presentation, Obama hosted a panel discussion with Zuckerberg and three entrepreneurs — Mai Medhat of Egypt, Jean Bosco of Rwanda and Mariana Costa Checa of Peru.
“To me entrepreneurship is about creating change,” Zuckerberg said, “and not just creating companies.”
The conversation then turned to Facebook, and Obama asked Medhat about her experience with the site.
“I don’t know where to start exactly. In Egypt, we started a revolution off of Facebook,” she said, prompting cheers from the audience. But the government later blocked access to the site, she said.
Obama cautioned foreign governments against that type of restriction, saying it stifles innovation.
“What we are seeing around the world oftentimes is governments wanting the benefits of entrepreneurship and connectivity, but thinking that top-down control is also compatible with that,” he said. “And it’s not.”
Marisa Kendall covers startups and venture capital. Contact her at 408-920-5009 and follow her at Twitter.com/marisakendall.
