Credit Suisse 2017 Entrepreneurs Summit: The Critical Mission of Creating Wealth with Communities
Revitalizing communities to deliver both impactful and profitable returns is a critical topic among investors today, recently discussed at the Credit Suisse 2017 Entrepreneurs Summit.
Featured keynote speaker Dan Gilbert is the Founder and Chairman of Detroit, US based Quicken Loans Inc., which has closed nearly 300 billion dollars in home loan volume since 2013. He is also the Founder and Chairman of Rock Ventures LLC, the umbrella entity for his portfolio of business and real estate investments. Gilbert has been deeply committed to leading the transformation of the city of Detroit, and spoke about the applications of the city's success to urban centers everywhere: "Detroit is becoming an example to companies to make an impact in the community they're in… and that the business can become better because of it…. Wealth is created, and creating it with the community is absolutely critical. I think Detroit is a beautiful example of that."
Gilbert believes every city is unique. He recommends urban centers find the things that are indigenous to their local communities and focus on them in their efforts to turn around languishing cities. Gilbert and Detroit Mayor Duggan emphasized the importance of partnerships between investors, governments and business leaders as another key component for revitalizing cities.
Changing the Balance
Steve Case, Co-Founder of America Online, and the Chairman and CEO of venture capital firm Revolution LLC, in his speech pointed to the importance of bringing entrepreneurship to cities as a way to reinvigorate them. Case remarked that last year, nearly 80 percent of venture capital went to just three states in the US – California, New York, and Massachusetts. "Bringing people together to talk about the rebirth of Detroit [is essential] because what's happening in the city, largely with its startups, is hopefully a message that will carry across the country" and beyond.
Creating wealth with the community is critical
Dan Gilbert, Quicken Loans Founder & Chairman
Case focused on the importance of giving entrepreneurs everywhere an opportunity to build companies and create jobs. He supports exciting ideas in areas that don't see a lot of venture capital funding, raising awareness of these businesses, investing in them and making sure the startups have the opportunity to succeed with the right mentorship. Bringing more capital and entrepreneurship to cities that don't necessarily see it is another way that investors can give back to their communities while delivering profitable returns.
Credit Suisse Entrepreneurs Summit
The Credit Suisse Entrepreneurs Summit offers Ultra High Net Worth (UHNW) individuals and families a unique networking platform and access to some of the nation's most innovative entrepreneurs and political leaders. Approximately 40 UHNW families, political leaders and entrepreneurs attended this year's Summit in Detroit to discuss how to revitalize some of the US's hardest hit urban centers, create jobs, support innovation and become true partners in local communities. Credit Suisse's UHNW Group focuses on the needs of large active family offices and successful entrepreneurs, with a strong traditional investment banking franchise complemented by a dedicated lending platform.
For more highlights from the Summit, visit Credit Suisse's 2017 Entrepreneurs Summit website.