Incubating a New Spain Through the Promotion of Entrepreneurship

Advancing President Obama’s commitment to promote entrepreneurship worldwide, the U.S. Embassy in Madrid launched IN3 (IN-cubed) on June 18-20 in partnership with Google and Chamberi Valley, a Spanish entrepreneurship association. Aimed at promoting entrepreneurship and investment in Spain, IN3 was the first community event hosted at Campus Madrid, one of only a handful of Google spaces around the world where entrepreneurs can learn, connect and build companies that will change the world.

IN3 took place as the U.S. Embassy in Madrid continues to work to expand a global economic recovery and create jobs. Assisting entrepreneurs grow their businesses and achieve their full potential is in the interest of everyone who wants to help foster prosperity worldwide. The world is more interconnected than ever.  We’ve got unprecedented opportunities to help people access the capital, resources, and networks they need to succeed. 

Growth anywhere does some good everywhere.  By bringing together Spanish and American innovators, investors, and institutions, we helped to equip entrepreneurs with the tools they need to overcome the challenges of expanding their businesses -- from finance, to support networks, to mentors. The fact is that entrepreneurs create jobs and drive economic growth.  In the United States, 40 percent of our 17 trillion dollar economy is generated by companies that did not even exist 20 years ago. By deepening the connections between the Spanish and U.S. entrepreneurial ecosystems, we can grow our economies, create jobs, and support businesses that will have lasting impact.

IN3 provided Spanish entrepreneurs the opportunity to hear from leading U.S. counterparts and tech investors on how to overcome institutional and investment challenges that inhibit business growth.  It also offered U.S. entrepreneurs the chance to explore areas of potential collaboration with their Spanish counterparts and learn from their experiences expanding into other European and Latin American markets.  Ultimately, IN3 provided a forum where entrepreneurs and policy makers exchanged ideas on the best ways to promote the creation of new businesses and help successful companies grow.

Spanish Minister of Industry, Trade, and Tourism Jose Manuel Soria, King Felipe VI, Ambassador Costos, and Google Executive Chairman Eric Schmidt speak together at the opening of IN3 in Madrid, June 19, 2015. [State Department photo/ Public Domain]

I was honored to be joined at IN3 by the Administrator of the U.S. Small Business Administration Maria Contreras-Sweet, Google Executive Chairman Eric Schmidt, H.M. King Felipe VI of Spain, and leaders in Spain’s entrepreneurial community and the Spanish government.  Together, we showcased the importance of entrepreneurship and the crucial role entrepreneurs play in driving growth and creating jobs.

Spain is a country with a growing entrepreneurial spirit, a plethora of talent, and solid business networks.   The U.S. Mission to Spain is doing its part to help this new generation of entrepreneurs achieve their full potential through a variety of programs.  We have established a strong partnership with TeamLabs, an organization that teaches the concept of entrepreneurship and engages with thousands of high school students across all regions of Spain.  We have produced animated videos for youth called You®Company, which tell real life stories of Spanish and U.S. entrepreneurs, and explore entrepreneurial values of motivation, innovation, corporate social responsibility, failure, and critical thinking. 

We also organized an Alumni Mentoring Program, through which we link up business leaders, prominent entrepreneurs, and alumni of U.S. Embassy exchange programs from throughout Spain to coach aspiring entrepreneurs and help them build their network of contacts.

IN3 is another sustainable example of our ongoing commitment to empowering people, especially youth and women, through the promotion of entrepreneurship. We are planning a series of smaller IN3 events around Spain and in the United States, leading up to next year’s anniversary of IN3, because as the American experience proves, entrepreneurship is a vehicle for spurring economic growth and we are committed to supporting and promoting it.

About the Author: James Costos serves as U.S. Ambassador to Spain.

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boniface M.
July 18, 2015
Very usefl info and faster indeed for all my needs. I have not finished yet will continue. I work for an organization that support those in trouble thru disater by giving them ways of building reslience
IN3 Conference in Spain
Posted by James Costos
July 17, 2015


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