In a move designed to accelerate global innovation and foster the next generation of science and technology entrepreneurs, the U.S. Department of State and VentureWell have officially signed a Memorandum of Understanding (MOU) to enhance the Global Innovation through Science and Technology (GIST) Initiative. The agreement, formalized today by Acting Assistant Secretary of the Bureau of Oceans and International Environmental and Scientific Affairs, Jennifer Littlejohn, and VentureWell CEO Phil Weilerstein, marks a significant expansion in the scope and impact of GIST, a program that has supported young innovators in over 130 emerging economies since its inception.
The MOU transfers management and oversight responsibilities of the GIST Initiative to VentureWell, a leading nonprofit that has been instrumental in fostering entrepreneurial ecosystems around the globe. This public-private partnership is expected to provide new opportunities for young innovators by offering critical resources such as networking, mentorship, and skill-building training—all geared toward helping them develop startup solutions that tackle pressing global challenges.
Empowering Entrepreneurs to Address Global Challenges
The GIST Initiative has long been at the forefront of empowering science and technology entrepreneurs in emerging markets. By providing aspiring entrepreneurs with the tools they need to launch successful ventures, GIST has contributed to finding solutions in sectors ranging from healthcare and sustainable energy to agriculture and disaster response. Under the new partnership with VentureWell, the program is set to evolve, continuing to help innovators address economic and development challenges while advancing societal well-being.
“We are thrilled to partner with VentureWell, an organization that shares our vision of empowering the next generation of entrepreneurs,” said Acting Assistant Secretary Littlejohn. “The GIST Initiative has already made a tremendous impact in more than 130 countries, and this partnership will further enhance its ability to build capacity and resilience in startup ecosystems worldwide. Together, we are helping young innovators turn their ideas into transformative solutions.”
Since 2011, the GIST Initiative, managed by the Bureau of Oceans and International Environmental and Scientific Affairs, has helped over 20,000 young innovators in emerging economies take their ideas from conception to launch. By fostering entrepreneurial communities and providing opportunities for training, pitch competitions, and investor meetings, GIST has positioned itself as a vital resource for those seeking to use science and technology to solve critical global issues.
Building on Success with VentureWell
VentureWell’s role as an implementing partner for the GIST Initiative comes as no surprise given its proven track record. Founded in 1995, VentureWell has trained and funded over 18,000 science and technology innovators, leading to the creation of nearly 5,000 startups. These ventures have introduced groundbreaking technological advancements in diverse fields, including biomedicine, sustainable energy, and solutions for low-resource environments.
“We are proud to take on this new responsibility in partnership with the U.S. Department of State,” said Phil Weilerstein, President and CEO of VentureWell. “The GIST Initiative is an extraordinary program that has already empowered thousands of young entrepreneurs. With the resources, networks, and expertise that VentureWell brings to the table, we are confident that this partnership will help take GIST to the next level—providing even more innovative solutions to the world’s most pressing challenges.”
VentureWell’s history of supporting startups that have raised over $6.4 billion and impacted millions of lives globally makes it an ideal partner to guide the future of the GIST Initiative. Through international competitions, pitch events, and funding opportunities, VentureWell has created pathways for young innovators to access capital, gain international recognition, and scale their ideas.
A Vision for the Future
This new partnership signifies a deeper commitment to nurturing the future of science, technology, and entrepreneurship worldwide. By combining the Department of State’s global outreach and diplomatic expertise with VentureWell’s extensive entrepreneurial network and practical support, the GIST Initiative is poised for significant growth in the coming years. Together, the partners will continue to build and sustain the entrepreneurial ecosystems that enable innovators to thrive in their local contexts while driving global solutions.
Looking ahead, both organizations aim to provide expanded access to high-quality resources and enhance knowledge exchange among innovators, researchers, policymakers, and investors. By fostering these connections, they hope to facilitate the development of new technologies that can solve pressing global challenges, from climate change and public health to sustainable development and digital transformation.
A Partnership with Lasting Impact
The U.S. Department of State and VentureWell’s partnership under the GIST Initiative embodies a shared vision for a brighter, more sustainable future. As the global community continues to face complex challenges, the importance of innovation cannot be overstated. With this new MOU, young innovators and entrepreneurs will be better equipped than ever to create solutions that have the potential to change the world.
For more information about the Global Innovation through Science and Technology (GIST) Initiative, please visit https://www.state.gov/gist.