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It would be great to see more programs targeted at entrepreneurs from developing countries actually in those countries themselves. There seems to be a big gap in FDI in developing countries between support for lifting micropreneurs out of poverty and major infrastructure projects supported by multinationals or the World Bank, and I doubt it's one which is generally well supported by local financial institutions or investors. And I suspect it's the smart ambitious locals that could generate the highest returns on that support if they got it. Ultimately the resulting business models may look different - fewer exit options than SV but also drastically lower medium-term funding requirements and untapped regional markets.

Then again, reforming the business environment in many developing countries to make it an attractive destination for modest-sized equity investments in SMEs might prove a even bigger challenge than reforming US immigration...




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