16th International Entrepreneurship Forum (IEF 2017): Sustainable Entrepreneurship & Economic Development

In 2017, King's College organized the 16th International Entrepreneurship Forum, which was an international conference run by the International Entrepreneurship Forum, partnered with Essex Business School (UK). This conference tried linking entrepreneurship to the SDGs, marking a pivotal moment in understanding how business ventures could contribute to global sustainability goals.

This conference brought scholars, practitioners, and academics together to discuss entrepreneurial sustainability and the factors that drive and impede its development. It also bridged the gap in conceptualization, empirical analysis, and reflective practice that impacts sustainable entrepreneurship and economic development. The gathering represented a significant step forward in creating dialogue between theoretical frameworks and practical implementation in the sustainability space.

The floor discussions and research mainly focused on several critical areas. The challenges of sustainable startups took center stage, with participants examining the unique hurdles faced by ventures trying to balance profit with purpose. The university's role in incubating sustainable ventures was extensively discussed, highlighting how academic institutions could serve as catalysts for environmentally and socially conscious entrepreneurship. Case studies on balancing profit and the planet provided real-world examples of businesses successfully navigating the tension between financial viability and environmental responsibility.

Though these discussions brought an optimistic view on sustainable ventures, the conference also identified significant gaps in the current ecosystem. A lack of a clear roadmap for implementing sustainable business models emerged as a major concern, with many participants noting the difficulty in translating sustainability principles into actionable business strategies. There was also limited focus on climate adaptation in entrepreneurship, suggesting that while businesses were beginning to consider environmental impact, climate resilience remained an underexplored area.

Similarly, the conference revealed the contemporary problem of big corporations being unable to solve all societal problems alone. This recognition challenged the prevailing notion that large-scale corporate initiatives could single-handedly address global sustainability challenges. Instead, it highlighted the need for a more distributed approach to social and environmental problem-solving.

Hence, in conclusion, it was emphasized that small businesses, paying attention to the triple bottom line — people, planet, and profit — should be the way ahead. This approach recognized that sustainable entrepreneurship required a holistic view that considered social, environmental, and economic impacts equally. And, companies should work hand in hand, together rather than differently for a sustainable future, emphasizing collaboration over competition in addressing global challenges.

The 16th IEF conference leveled up the floor discussion which was earlier hovering around the role and definitional clarity of social and sustainable entrepreneurship. The conference of 2017 tried diving into the challenges and role of other ecosystem partners in promoting sustainable entrepreneurship. This conference also emphasized that sustainable entrepreneurship thrives at the intersection of local context, collaborative policies, and innovative financing.

The insights from IEF 2017 remain relevant today as Nepal continues to build its own sustainable entrepreneurship ecosystem, reminding us that the path forward requires coordinated efforts from all stakeholders in the entrepreneurial community.