Entrepreneurship, Second Edition

1.3. Global Entrepreneurship Monitor

The Global Entrepreneurship Monitor (GEM) was conceived in 1997^[] to study the economic impact and the determinants of national-level entrepreneurial activity. With its coverage of more than 60 countries worldwide, GEM is the largest coordinated research effort ever undertaken to study population-level entrepreneurial activity. Member nations account for approximately 95% of the world's GDP and two-thirds of its population. Because of its worldwide reach and rigorous scientific method, GEM has become the world's most influential and authoritative source of empirical data and expertise on the entrepreneurial potential of nations. ^[]

^[] GEM in itself is an example of not-for-profit (social) entrepreneurship. It was conceived in 1997 by Babson College and London Business School professors. It was prototyped with bootstrap funding and volunteers and was officially launched in 1998 with research teams from 10 nations and supported with funding raised by each team from national sponsors. By 2009, it had evolved into an international consortium of more than 200 researchers from more than 60 nations, with a combined annual budget of about $4 million. It produces annual global reports on the overall state of entrepreneurship in those nations, country-specific reports, and reports on special topics such as female entrepreneurship, financing, and job creation. More than 100 global and regional reports can be read and downloaded at www.gemconsortium.org ...